The Prospector News

Oreninc Index Falls to Eleven-Week Low

You have opened a direct link to the current edition PDF

Open PDF Close
Industry Analysts

Share this news article

Oreninc Index Falls to Eleven-Week Low

 

 

 

 

 

 

The Oreninc Index fell to an 11-week low for the week ending March 26, 2015. Total dollars announced fell to $20.9m on 15 deals, 11- and two-week lows respectively. No brokered deals were announced for the first time in 11 weeks. No bought deals were announced for the third time in five weeks.


 

 

 

Deals were light, with the major deal of the week being Ivanhoe Mines Ltd.’s (TSX:IVN) agreement to sell China’s Zijn Mining Group a 9.9% stake in the miner. Commodities were fairly positive for the week, with oil and gold enjoying gains related to the political crisis in Yemen.

 

 

 

In addition to the poor weekly performance, the Index’s five-week moving average hit a multi-year low, highlighting just how bad this first quarter has been. When the only strength of the week is increasing commodity prices due to an uncertain political crisis that is unlikely to spark some sort of long-term pricing trend, you know we are in a bad place.

 

 

 

 

 

 

Summary:

 

  • Number of financings dropped to 17, a two-week low.
  • No brokered financings were announced for the first time in 11 weeks.
  • No bought deal financings were announced for the third time in five weeks.
  • Total dollars fell to $20.9m, an 11-week low.
  • Average offer size decreased to $1.4m, a seven-week low.

 

 

Major Financing Openings:

 

  • Rockhaven Resources Ltd. (TSX-V:RK) opened and closed a $4.41 million offering on a best efforts basis.
  • Red Eagle Mining Corporation (TSX-V:RD) opened a $3.2 million offering on a strategic deal basis.
  • Sennen Potash Corp. (TSX-V:SN) opened a $3 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 60 months.
  • Fura Emeralds Inc. (TSX-V:FUR) opened a $2.7 million offering 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 April 15, 2015.

 

 

Major Financing Closings:

 

  • Savary Gold Corp. (TSX-V:SCA) closed a $3 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.
  • New Zealand Energy (TSX-V:NZ) closed a $1.77 million offering on a best efforts basis.
  • Lydian International Ltd. (TSX:LYD) closed a $1.36 million offering on a strategic deal basis.
  • Maya Gold & Silver Inc. (TSX-V:MYA) closed a $1.2 million offering 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 April 1, 2015

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