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Oreninc Index Falls Over Holiday-Shortened Weeks

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Oreninc Index Falls Over Holiday-Shortened Weeks

 

 

 

 

 

 

The Oreninc Index dropped for the two holiday-shortened weeks ending January 2, 2014. Total dollars and average deal size stumbled lower than any level previously in 2013, and there were no brokered or bought deals in either week. While obviously not an encouraging sign, the fact that these two weeks included three non-trading days explains the poor performance for the most part. Expect this valley to rise at least a little as we head into 2014.

 

                       

 

 

Summary (for the week ending January 2):

 

  • Deals announced fell to 32, a seven-week low.
  • No brokered deals were announced, a one-week low.
  • No bought deals were announced, a one-week low.
  • Total dollars announced fell to $18.1m, a multi-year low.
  • Average deal size decreased to $0.57m, a multi-year low.

 

 

Major Financing Openings (for the weeks ending December 26 and January 2):

 

  • Armistice Resources Corp. (TSX:AZ) opened a $5.65 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 36 months.
  • True North Gems Inc. (TSX-V:TGX) opened a $1.5 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 24 months.
  • Homestake Resource Corporation (TSX-V:HSR) opened a $1.25 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 36 months.
  • Solid Resources Ltd. (TSX-V:SRW) opened a $1.2 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 24 months.

 

 

Major Financing Closings (for the weeks December 26 and January 2):

 

  • Alexander Energy Ltd. (TSX-V:ALX) closed a $26.5 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 60 months.
  • Alphamin Resources Corp. (TSX-V:AFM) closed a $13.5 million offering on a strategic deal basis.
  • Brazil Resources Inc. (TSX-V:BRI) closed a $6.41 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 60 months.
  • Castle Mountain Mining Company (TSX-V:CMM) closed a $5 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal basis.

 

 

 

Oreninc also publishes the Oreninc Deal Log, a daily list of all financing activity in the TSX 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 January 8, 2014

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