The Oreninc Index jumped to a five-week high for the week ending May 14, 2015. Total dollars announced exploded to $243.7m, a 30-week high. Five brokered financings were announced for $106.1m, a five-week high; Two bought deals were announced for $69m, also a five-week high.
Deal-making was relatively quiet this week, with Crocodile Gold (TSX:CRK) and Newmarket Gold Inc. (TSX-V:NGN) agreeing to merge to form a new mid-tier gold producer being the largest of note. Crocodile and Newmarket shareholders will own 80% and 12% stakes in NewCo respectively (the remaining 8% will be sold in a corresponding private placement). Iron ore continued its rise, and gold had a fantastic week, ending the period well above the $1,200 level.
Although deal-making dropped off a bit this week, the Index’s solid performance over the previous three weeks, mixed with gold and iron ore prices, is a positive way to head into the generally quieter summer months.
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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