The Prospector News

Oreninc Index Falls to Least Active Week Since January

You have opened a direct link to the current edition PDF

Open PDF Close
Industry Analysts

Share this news article

Oreninc Index Falls to Least Active Week Since January

 

 

 

 

 

The Oreninc Index fell for the week ending July 25, 2014. The main culprit for the drop was the number of deals announced, 18, a 28-week low. Total dollars announced fell to $101.5m, a two-week low. Five brokered deals were announced for $77.1m, also a two-week low; one bought deal was announced for $13m, a two-week high. While total dollars are down, the decrease is dwarfed by the drop in the number of deals announced, resulting in an average deal size of $5.64m, a six-week high that ranks this week as the third highest of 2014 for deal size.

 

 

 

Deal making seems to have cooled along with the private placement activity, giving us the impression that golf courses and swimming pools were more active than board rooms this week. As we have been saying, this is prototypical of summer activity, but gives less credence to the idea that this summer has been better overall than last; at this point, it is becoming less and less true every week. We’ll see if the summer can finish off strong in August, giving the industry some confidence as it heads into fall, where both activity and expectations will likely be up, if not necessarily in equal amounts.

 

 

 

 

Summary:

 

  • Deals announced crashed to 18, a 28-week low.
  • Five brokered deals were announced for $77.1m, a two-week low.
  • One bought deal was announced for $13m, a two-week high.
  • Total dollars fell to $101.5m, a two-week low.
  • Average deal size jumped to $5.6m, a six-week high.

 

 

Major Financing Openings:

 

  • Pretium Resources Inc. (TSX:PVG) opened a $52.97 million offering underwritten by a syndicate led by Scotia Capital Inc. on a best efforts basis.    
  • Denison Mines Corp. (TSX:DML) opened a $13.04 million offering underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis. The deal is expected to close on or about August 12, 2014.
  • Camex Energy Corp. (TSX-V:CXE.H) opened a $11 million offering underwritten by a syndicate led by Delano Capital on a best efforts basis.    
  • Cassidy Gold Corp. (TSX-V:CDX) opened a $10.17 million offering on a best efforts basis.    

 

 

Major Financing Closings:

 

  • Oryx Petroleum Corporation Limited (TSX:OXC) closed a $64.13 million offering underwritten by a syndicate led by BMO Capital Markets on a best efforts basis.    
  • Terrace Energy Corp. (TSX-V:TZR) closed a $20.02 million offering underwritten by a syndicate led by Canaccord Genuity on a bought deal basis.    
  • Seabridge Gold Inc. (TSX:SEA) closed a $13.8 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a bought deal basis.    
  • Rubicon Minerals Corporation (TSX:RMX) closed a $12 million offering underwritten by a syndicate led by TD Securities on a bought deal 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 August 5, 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