ORENINC INDEX – Monday, January 16th, 2023

North America’s leading junior mining finance data provider

Last Week: 34.19

This week: 48.35

The Oreninc Index increased in the trading week ending January 13th, 2023 to 48.35 from 34.19 a week ago as metal prices steadily gain.

On to the money: the aggregate financings announced increased to $57.9 million, a 4-week high, with four new brokered financings and two new bought-deal financings announced. The average offer size increased to $2.3 million, a 5-week high, and the number of financings increased to 25.

Gold closed the week higher at $1,921/oz from $1,859/oz a week ago. The US dollar index closed lower at 102.20 from 105.04 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $40.40 from $38.12 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 260.30 from 247.13 last week. The SPDR GLD ETF inventory closed the week lower at 909.24 tonnes from 912.41 tonnes last week.

In other commodities, Silver closed the week higher at $24.32/oz from $23.42/oz a week ago. Copper closed higher at $3.82/lb from $3.82/lb a week ago. Oil went higher as WTI closed higher at $80.08 a barrel from $73.97 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 34,302 from 32,929 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,360 from 19,506 the previous week. The S&P/TSX Venture Composite Index closed higher at 615.11 from 571.12 a week ago.

Summary:

• The number of financings increased to 25.
• Four brokered financings were announced this week for $31m, a 5-week high.
• Two bought deal financings were announced this week for $15m, a 5-week high.
• Total dollars heightened to $57.9m, a 4-week high.
• The average offer upped to $2.3m, a 5-week high.

Major Financing Openings:

• Magna Mining Inc. (TSX-V:NICU) opened a $16 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on the best efforts The deal is expected to close on or about January 25, 2023.
• Augusta Gold Corp (CSE:G) opened a $10 million offering underwritten by a syndicate led by Eight Capital on a bought deal Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about January 18, 2023.
• Adventus Mining Corp. (TSX-V:ADZN) opened a $5 million offering underwritten by a syndicate led by Raymond James Ltd. on a bought deal The deal is expected to close on or about January 18, 2023.
• Freeport Resources Inc. (TSX-V:FRI) opened a $3 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 18 months.

Major Financing Closings:

• Guanajuato Silver Company Ltd. (TSX-V:GSVR) closed a $5.1 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 1, 2023.
• Mayfair Gold Corp. (TSX-V:MFG) closed a $4.3 million offering on a best-efforts basis. The deal is expected to close on or about December 31, 2022.
• South Star Battery Metals Corp. (TSX-V:STS) closed an $8.7 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 60 months.
• Salazar Resources Ltd. (TSX-V:SRL) closed a $3 million offering on a best-efforts basis.