The Oreninc Index held steady for the week ending January 29, 2015. Total dollars announced dropped to $68.3m, a three-week low. Two brokered and bought financings were announced for $34.9m, both three-week lows.
The only deal of note during the week was completed by Tarsis Resources Ltd. (TSX-V:TCC) and Sandstorm Gold Ltd. (TSX:SSL), pursuant to which Tarsis acquired eight gold properties in Nevada for 1.5m shares. The deal was initially announced on November 21, 2014. Commodities were down, with gold dropping over $35 an ounce on Thursday on news the US Federal Reserve was on track to lift interest rates later this year. Iron ore and copper also had an awful week, continuing their falls.
Although steady in recent weeks, it may be difficult for the Index to remain at this level if metal and oil prices continue to struggle.
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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