ORENINC INDEX – Monday, June 21st 2021

North America’s leading junior mining finance data provider

Last Week: 84.75

This week: 66.42

The Oreninc Index decreased in the trading week ending June 18th, 2021 to 66.42 from 84.75 a week ago with only 3 new announced brokered placements announced.

On to the money: the aggregate financings announced decreased to $121 million, a 2-week high, with 3 new brokered financings and no new bought-deal financing announced. The average offer size increased to $3.7 million, a 2-week low, and the number of financings remained decreased to 33.

Gold closed the week lower at $1,769/oz from $1,879/oz a week ago. The US dollar index closed higher at 92.32 from 90.56 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week lower at $47.73 from $53.21 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 271.08.37 from 307.37 last week. The SPDR GLD ETF inventory closed the week higher at 1,053.06 tonnes, or 33.85 million ounces, from 1,043.16 tonnes last week.

In other commodities, Silver closed the week lower at $25.96/oz from $28.14/oz a week ago. Copper closed down at $4.15/lb from $4.52/lb a week ago. Oil went higher as WTI closed higher at $71.64 a barrel from $70.21 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 33,290 from 34,479 a week ago. Canada’s S&P/TSX Composite Index closed lower at 19,997 from 20,029 the previous week. The S&P/TSX Venture Composite Index closed higher at 946.83 from 979.70 a week ago.

Summary:

• Number of financings decreased to 33.
• Three brokered financings were announced this week for $69m, a 2-week low.
• No bought-deal financing was announced this week.
• Total dollars decreased to $121m, a 2-week low.
• Average offer lessened to $3.7m, a 2-week low.

Major Financing Openings:

• Nouveau Monde Graphite Inc. (TSX-V:NOU) opened a $35 million offering underwritten by a syndicate led by Evercore ISI on a best efforts basis. The deal is expected to close on or about June 23, 2021.
• Major Precious Metals Corp. (CSE:SIZE) opened a $10 million offering on a best efforts Each unit includes a 1/2 warrant that expires in 24 months.
• E79 Resources Corp. (CSE:ESNR) opened a $8 million offering on a best efforts
• Fabled Silver Gold Corp. (TSX-V:FCO) opened a $6 million offering underwritten by a syndicate led by Research Capital Corp. on a best efforts Each unit includes 1 warrant that expires in 24 months. The deal is expected to close on or about July 12, 2021.

Major Financing Closings:

• Dore Copper Mining Corp. (TSX-V:DCMC) closed a $64 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal basis.   The deal is expected to close on or about June 9, 2021.
• Sable Resources Ltd (TSX:SAE) closed a $5 million offering underwritten by a syndicate led by Sprott Capital Partners LP on a bought deal basis.   The deal is expected to close on or about June 15, 2021.
• Kuya Silver Corp. (CSE:KUYA) closed a $2 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about June 16, 2021.
• Southern Silver Exploration Corp. (TSX-V:SSV) closed a $9 million offering underwritten by a syndicate led by Red Cloud Securities Inc. on a bought deal The deal is expected to close on or about June 14, 2021.