ORENINC INDEX – Monday, July 10th, 2023

North America’s leading junior mining finance data provider

Last Week: 51.42

This week: 51.14

The Oreninc Index remained in the trading week ending July 7^th, 2023, at 51.41 from 51.42 a week ago as the average offer size jumped to a 12-week high.

On to the money: the aggregate financings announced increased to $72 million, a 7-week high, with three new brokered financings and no new bought-deal financings announced. The average offer size increased to $3.4 million, a 12-week low, and the number of financings decreased to 21.

Gold closed the week higher at $1,932/oz from $1,913/oz a week ago. The US dollar index closed lower at 102.27 from 102.90 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $35.06 from $34.33 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 228.34 from 227.18 last week.

In other commodities, Silver closed the week higher at $23.28/oz from $22.86/oz a week ago. Copper closed higher at $3.78/lb from $3.75/lb a week ago. Oil went higher as WTI closed higher at $73.86 a barrel from $69.56 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 33,735 from 33,853 a week ago. Canada’s S&P/TSX Composite Index closed higher at 19,831 from 19,818 the previous week. The S&P/TSX Venture Composite Index closed higher at 614.74 from 611.89 a week ago.

Major Financing Openings:

• Criterium Energy Ltd. (TSX-V:CEQ) opened a $22 million offering underwritten by a syndicate led by Research Capital Corporation on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months. The deal is expected to close on or about July 19, 2023.
• RTG Mining Inc. (TSX:RTG) opened a $12.18 million offering on a best-efforts basis. The deal is expected to close on or about July 12, 2023.
• Consolidated Uranium Inc. (TSX-V:CUR) opened a $10.35 million offering underwritten by a syndicate led by Red Cloud Securities Inc. on a best-efforts basis.
• West Red Lake Gold Mines Inc. (CSE:RLG) opened a $6 million offering on a best-efforts basis.

Major Financing Closings:

• Stillwater Critical Minerals Corp. (TSX-V:PGE) closed a $4.94 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months.
• European Energy Metals Corp. (TSX-V:FIN) closed a $2.25 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.
• Canuc Resources Corp. (TSX-V:CDA) closed a $2 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
• Zincx Resources Corp. (TSX-V:ZNX) closed a $1 million offering on a best-efforts basis.