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Oreninc Index Falls

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Oreninc Index Falls

 

 

 

 

 

 

The Oreninc Index fell for the week ending December 12, 2013. The five-week moving average fell more than it has in 13 weeks. Total dollars announced fell to $70.6m, a two-week low. Brokered dollars announced rose to $37.5m on two deals and, for the first time in seven weeks, no bought deals were announced. The Index appears to be cooling down as we head closer to the holidays and New Year.

 

                       

 

Summary:

 

  • Deals announced fell to 32, a four-week low.
  • Two brokered deals were announced for $37.5m, a three-week high.
  • No bought deals were announced, an eight-week low.
  • Total dollars announced dropped to $70.6m, a two-week low.
  • Average deal size stumbled to $2.2m, a two-week low.

 

 

Major Financing Openings:

 

  • Klondex Mines Ltd. (TSX:KDX) opened a $35 million offering underwritten by a syndicate led by GMP Securities L.P. on a best efforts basis. The deal is expected to close on or about December 17, 2013.
  • Explor Resources Inc. (TSX-V:EXS) opened a $8.19 million offering on a best efforts basis.
  • Azabache Energy Inc. (TSX-V:AZA) opened a $3.5 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 December 20, 2013.
  • American Vanadium Corp. (TSX-V:AVC) opened a $3 million offering on a strategic deal basis. The deal is expected to close on or about January 15, 2014.

 

 

Major Financing Closings:

 

  • DeeThree Exploration Ltd. (TSX:DTX) closed a $35.15 million offering underwritten by a syndicate led by Raymond James Ltd. on a bought deal basis.
  • Seabridge Gold Inc. (TSX:SEA) closed a $16.76 million offering underwritten by a syndicate led by Stonecap Securities Inc. on a bought deal basis.
  • Yangarra Resources Ltd. (TSX-V:YGR) closed a $12.48 million offering underwritten by a syndicate led by AltaCorp Capital Inc. on a bought deal basis.
  • Jayden Resources Inc. (TSX:JDN) closed a $2.51 million offering underwritten by a syndicate led by Gather Success Holdings Limited 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 December 18, 2013

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