The Oreninc Index finally showed some life for the week ending September 25, 2014. Total dollars announced rose to $147.1m, a three-week high. Brokered dollars rose to $49.4m on five deals, a three-week high; two bought deals were announced for $30.4, also a three-week high.
Deals were light again this week, with the big news in the space coming by way of falling metals prices. Both ends of the metal spectrum were down, with gold hitting its lowest price since January on Thursday before a strong rally late in the day, and iron ore hitting its lowest point in five years on Tuesday. BHP also announced consideration of a secondary listing of its recently announced spin out on the London Stock Exchange after investor backlash on its initial intentions to not do so.
While the Index is still not high enough to stay encouraged for very long, it’s good to see some real money announced and some bankers in the mix, as opposed to the total lack of activity that has existed since the beginning of the month. We’ll see if the upcoming first full week of fall will encourage companies to raise money and, more importantly, cause investors to have actual interest in what the juniors are saying.
Major Financing Openings:
Major Financing Closings:
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.
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