The Oreninc Index stayed at its flattest level in over two years for the week ending April 24, 2014. Breaking away from its usual volatility, the Index has stayed at a consistent level for the last five weeks. Total dollars announced fell to $50.1m, a four-week low. Brokered deals also fell, going to three deals for $29m, a four-week low; bought deals were up to $25m on one deal, a two-week high. The Index’s level remained unusually steady compared to previous weeks, a trend that will likely return to its more typical fluctuations.

Summary:

• Deals announced rose to 28, a three-week high.
• Three brokered deals were announced for $29m, a four-week low.
• One bought deal was announced for $25m, a two-week high.
• Total dollars announced fell to $50.1m, a five-week low.
• Average deal size dropped to $1.8m, a three-week low.

Major Financing Openings:

• Yangarra Resources Ltd. (TSX-V:YGR) opened a $25 million offering underwritten by a syndicate led by AltaCorp Capital Inc. on a bought deal basis. The deal is expected to close on or about May 15, 2014.
• Ximen Mining Corp. (TSX-V:XIM) opened a $4 million offering underwritten by a syndicate led by Richardson GMP on a best efforts basis.
• Superior Copper Corporation (TSX-V:SPC) opened a $3.25 million offering  on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
• Emperor Oil Ltd. (TSX-V:EM) opened a $2.1 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.

Major Financing Closings:

• Aureus Mining Inc. (TSX:AUE) closed a $16.76 million offering underwritten by a syndicate led by GMP Securities L.P. on a best efforts basis. Each unit includes a 1/2 warrant that expires in 30 months.
• Richmont Mines Inc. (TSX:RIC) closed an $11.67 million offering underwritten by a syndicate led by Macquarie Capital Markets on a bought deal basis.    
• Marlin Gold Mining Ltd. (TSX-V:MLN) closed a $5 million offering on an insiders-only basis.    
• Petrolia Inc. (TSX-V:PEA) closed a $3 million offering underwritten by a syndicate led by Laurentian Bank 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.