ORENINC INDEX – Monday, June 19th, 2023

North America’s leading junior mining finance data provider

Last Week: 46.83

This week: 30.13

The Oreninc Index decreased in the trading week ending June 16^th, 2023, to 30.13 from 46.83 a week ago with only one new financing announced.

On to the money: the aggregate financings announced increased to $42 million, a 2-week high, with one new brokered financings and no new bought-deal financings announced. The average offer size increased to $1.9 million, a 4-week high, and the number of financings decreased to 22.

Gold closed the week lower at $1,970/oz from $1,977/oz a week ago. The US dollar index closed down at 102.28 from 103.56 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week lower at $37.20 from $37.41 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 241.34 from 242.97 last week.

In other commodities, Silver closed the week lower at $24.22/oz from $24.41/oz a week ago. Copper closed higher at $3.88/lb from $3.78/lb a week ago. Oil went lower as WTI closed higher at $71.80 a barrel from $70.17 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 34,372 from 33,877 a week ago. Canada’s S&P/TSX Composite Index closed higher at 19,988 from 19,892 the previous week. The S&P/TSX Venture Composite Index closed higher at 611.92 from 610.32 a week ago.

Summary:

Major Financing Openings:

• Premium Nickel Resources Ltd. (TSX-V:PNRL) opened a $16.25 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about June 28, 2023.
• Newcore Gold Ltd. (TSX-V:NCAU) opened a $5 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 12 months. The deal is expected to close on or about June 28, 2023.
• Anfield Energy Inc. (TSX-V:AEC) opened a $5 million offering underwritten by a syndicate led by Haywood Securities Inc. on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about July 6, 2023.
• Prospera Energy Inc. (TSX-V:PEI) opened a $3.02 million offering on a best-efforts basis.

Major Financing Closings:

• Emerita Resources Corp. (TSX-V:EMO) closed an $8 million offering underwritten by a syndicate led by Clarus Securities Inc. on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about June 13, 2023.
• Signal Gold Inc. (TSX:SGNL) closed a $6.69 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 18 months. The deal is expected to close on or about June 9, 2023.
• Bravo Mining Corp. (TSX-V:BRVO) closed a $5.27 million offering on a best-efforts basis. The deal is expected to close on or about June 15, 2023.
• Baselode Energy Corp. (TSX-V:FIND) closed a $5 million offering on a best-efforts basis.