The Prospector News

Oreninc Index Falls

You have opened a direct link to the current edition PDF

Open PDF Close
Industry Analysts

Share this news article

Oreninc Index Falls

 

 

 

 

 

The Oreninc Index fell to a four-week low for the week ending September 11, 2014. Total dollars fell to $58.3m, a four-week low. Two brokered deals were announced for $5.5m, a four-week low; no bought deals were announced for the second time in six weeks.

 

 

 

Deals for the week were stronger, with Agnico-Eagle Mines (TSX: AEM) agreeing to buy Cayden Resources (TSX-V: CYD) for $205m. Taseko Mines (TSX: TKO) agreed to buy Curis Resources (TSX: CUV) in an all-stock deal valued at $80m. Both deals are still subject to shareholder approval.

 

Junior financing activity is down, but it appears that majors are at least out and trying to make things happen. While too early to tell if this is just a summer hang-over or a real issue, it is not a good sign that a high number of deals with a low number of overall dollars were announced. Juniors may be out trying to raise money, but it seems they just aren’t able to find investment appetite.

 

 

 

 

Summary:

 

  • Deals announced rose to 34, a six-week high.
  • Two brokered deals were announced for $5.5m, a four-week low.
  • No bought deals were announced, a two-week low.
  • Total dollars fell to $58.3m, a four-week low.
  • Average deal size crashed to $1.7m, a 12-week low.

 

 

Major Financing Openings:

 

  • Blackdog Resources Ltd. (TSX-V:DOG) opened a $21 million offering on a best efforts basis.    
  • MNP Petroleum Corp. (TSX-V:MNP) opened an $8.1 million offering on a best efforts basis. Each unit includes a 1/2 warrant.
  • Branco Resources Ltd. (TSX-V:BNL) opened a $4.25 million offering on a best efforts basis.    
  • True North Gems Inc. (TSX-V:TGX) opened a $3 million offering on a best efforts basis.    

 

 

Major Financing Closings:

 

  • Belo Sun Mining Corp. (TSX:BSX) closed a $6.5 million offering on a best efforts basis.
  • High North Resources Ltd (TSX:HN) closed a $4 million offering underwritten by a syndicate led by GMP Securities L.P. on a best efforts basis.    
  • International Northair Mines Ltd. (TSX-V:INM) closed a $4 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 36 months.
  • Golden Minerals Company (TSX:AUM) closed a $3.5 million offering underwritten by a syndicate led by Roth Capital on a best efforts basis.

 

 

Oreninc also publishes the Oreninc Deal Log, a daily list of all financing activity in the TSX, TSX-V and CSE resource sectors. Visit http://oreninc.com to see which companies and sectors to watch. Oreninc also writes custom reports for companies on effective capital raising strategies to help companies maintain long-term shareholder value.

Posted September 18, 2014

Share this news article

MORE or "INDUSTRY ANALYSTS"


Mickey Fulp - Mercenary Alert: Is Zinc Still a Four-Letter Word?

Read the Report Here Mercenary Alert: Is Zinc Still a Four-Letter Word? ... READ MORE

June 15, 2017

Top 10 Financings of May 2017

May saw 125 financings close in the Canadian financial markets for C$366.5 million including 64 fina... READ MORE

June 15, 2017

ORENINC INDEX jumps as gold gets political again

ORENINC INDEX – Monday, June 12, 2017 North America’s leading junior mining finance data provide... READ MORE

June 13, 2017

The Week of June 5th to June 11th, 2017 "A Brief Look Back Into Tomorrow"

The new North American trading week began on Monday June 5th with... READ MORE

June 12, 2017

The Week of May 29th to June 4th, 2017 "A Brief Look Back Into Tomorrow"

The new North American trading week began on Monday, May 29th wit... READ MORE

June 6, 2017

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions