The Oreninc Index continued to creep up slightly for the week ending April 3, 2014. While not showing any significant gains, the increase in performance is a positive development. Dollars announced increased to $60.7m, a three-week high. Eight brokered deals were announced for $30.2m, and three bought deals were announced for $23.2m, both three-week highs. Although the Index improved for the second straight week, the five-week moving average fell to its lowest mark in six weeks; it may stay at this level for the foreseeable future as the big dollar financings start to melt away.

Summary:

• Deals announced rose to 36, a three-week high.
• Eight brokered deals were announced for $30.2m, a three-week high.
• Three bought deals were announced for $23.2m, a three-week high.
• Total dollars announced jumped to $60.7m, a three-week high.
• Average deal size increased to $1.7m, a three-week high.

Major Financing Openings:

• Silver Bear Resources Inc. (TSX:SBR) opened an $11 million offering on a best efforts basis. The deal is expected to close on or about June 30, 2014.
• Richmont Mines Inc. (TSX:RIC) opened a $10.15 million offering underwritten by a syndicate led by Macquarie Capital Markets on a bought deal basis. The deal is expected to close on or about April 23, 2014.
• Mason Graphite Inc. (TSX-V:LLG) opened a $10 million offering underwritten by a syndicate led by Macquarie Capital Markets Canada Ltd. on a bought deal basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about April 30, 2014.
• Xinergy Ltd. (TSX:XRG) opened a $5.47 million offering on a best efforts basis.

Major Financing Closings:

• Gear Energy Ltd. (TSX:GXE) closed a $63.5 million offering underwritten by a syndicate led by FirstEnergy Capital Corp. on a bought deal basis.   
• Fission Uranium Corp. (TSX-V:FCU) closed a $28.75 million offering underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis.   
• Mountain Province Diamonds (TSX:MPV) closed a $28.24 million offering underwritten by a syndicate led by BMO Capital Markets on a bought deal basis.    
• Pilot Gold Inc. (TSX:PLG) closed a $20 million offering underwritten by a syndicate led by National Bank Financial Inc. 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.