ORENINC INDEX – Monday, February 7th, 2022

North America’s leading junior mining finance data provider

Last Week: 47.61

This week: 52.22

The Oreninc Index increased in the trading week ending February 4th, 2022 to 52.22 from 47.61 a week ago as financings activity picks up.

On to the money: the aggregate financings announced increased to $111 million, a 2-week high, with 7 new brokered financings and 3 new bought-deal financings announced. The average offer size increased to $4.6 million, a 2-week high, and the number of financings increased to 24.

Gold closed the week down at $1,807/oz from $1,831/oz a week ago. The US dollar index closed up at 97.27 from 97.27 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week up at $38.18 from $37.13 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 246.28 from 240.19 last week. The SPDR GLD ETF inventory closed the week higher at 1,017.75 tonnes, or 32.72 million ounces, from 976.21 tonnes last week.

In other commodities, Silver closed the week higher at $22.51/oz from $22.34/oz a week ago. Copper closed higher at $4.50/lb from $4.32/lb a week ago. Oil went higher as WTI closed higher at $92.31 a barrel from $86.82 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 35,089 from 34,726 a week ago. Canada’s S&P/TSX Composite Index closed hugher at 21,271 from 20,741 the previous week. The S&P/TSX Venture Composite Index closed lower at 854.47 from 838.33 a week ago.

Summary:

• Number of financings increased to 24.
• Seven brokered financing were announced this week for $47.7m, a 2-week high.
• Three bought-deal financing were announced this week for $35m, a 2-week high.
• Total dollars increased to $111m, a 2-week high.
• Average offer upped to $4.6m, a 2-week high.

Major Financing Openings:

• Wallbridge Mining Company Ltd. (TSX:WM) opened a $27.02 million offering on a best efforts basis.    The deal is expected to close on or about February 24, 2022.
• Osisko Development Corp. (TSX-V:ODV) opened a $12.54 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 60 months.
• Reunion Gold Corporation (TSX-V:RGD) opened a $10 million offering underwritten by a syndicate led by Paradigm Capital Inc. on a bought deal basis. The deal is expected to close on or about February 24, 2022.
• Rok Resources Inc. (TSX-V:ROK) opened a $10 million offering underwritten by a syndicate led by Echelon Capital Markets on a bought deal basis.  Each unit includes 1 warrant that expires in 36 months. The deal is expected to close on or about February 24, 2022.

Major Financing Closings:

• Talon Metals Corp. (TSX:TLO) closed a $33.95 million offering underwritten by a syndicate led by TD Securities Inc. on a bought deal basis.
• Lithium Chile Inc. (TSX-V:LITH) closed a $7.04 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 24 months.
• G2 Goldfields Inc. (TSX-V:GTWO) closed a $3.06 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 24 months. The deal is expected to close on or about January 28, 2022.
• Rise Gold Corp. (CSE:RISE) closed a $3.02 million offering on a best efforts basis.