The Prospector News

Oreninc Index Jumps to Seven-Week High

You have opened a direct link to the current edition PDF

Open PDF Close
Industry Analysts

Share this news article

Oreninc Index Jumps to Seven-Week High

 

 

 

 

 

Note: The Oreninc Index image below has been inverted from previous weeks. The weekly state of the market is now the purple line and the five-week moving average is the grey area.

 

 

 

The Canadian resource financings markets continue to slump even as the Oreninc Index reaches a seven-week high during the week ending May 2, 2013. The major driver of this week’s Index was a single large offering. Had that offering not occurred, the week would have been flat. While it is nice to see large companies still being able to raise money, the Index bump is likely not a positive indication for mining juniors.

 

 

 

 

Summary:

 

  • Total deals announced climbed to 31, a six-week high.
  • One brokered deal was announced for $90 million dollars.
  •  One bought deal was announced.
  • Total dollars announced increased to $128 million, a seven-week high
  •  Average deal size increased to $4.1 million, a four-week high.

 

 

Major Financing Openings:

 

  • Whitecap Resources Inc. (TSX:WCP) opened a $110.01 million offering underwritten by a syndicate led by GMP Securities L.P. on a bought deal basis.
  • Tyhee Gold Corporation (TSX-V:TDC) opened a $2.4 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.
  • Abzu Gold Ltd. (TSX-V:ABS) opened a $2 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 12 months.
  • Western Pacific Resources Corp. (TSX-V:WRP) opened a $2 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 18 months.

 

 

Major Financing Closings:

 

  • Pretium Resources Inc. (TSX:PVG) closed a $40 million offering on a best efforts basis.
  • CGX Energy Inc. (TSX-V:OYL) closed a $37.01 million offering underwritten by a syndicate led by GMP Securities L.P. on a best efforts basis. Each unit includes 1 warrant that expires in 60 months.
  • Storm Resources Ltd. (TSX-V:SRX) closed a $29.29 million offering underwritten by a syndicate led by FirstEnergy Capital Corp on a bought deal basis.
  • Kootenay Silver Inc. (TSX-V:KTN) closed a $4.75 million offering on a best efforts basis.

 

 

Posted May 9, 2013

Share this news article

MORE or "INDUSTRY ANALYSTS"


Mickey Fulp - Mercenary Alert: Is Zinc Still a Four-Letter Word?

Read the Report Here Mercenary Alert: Is Zinc Still a Four-Letter Word? ... READ MORE

June 15, 2017

Top 10 Financings of May 2017

May saw 125 financings close in the Canadian financial markets for C$366.5 million including 64 fina... READ MORE

June 15, 2017

ORENINC INDEX jumps as gold gets political again

ORENINC INDEX – Monday, June 12, 2017 North America’s leading junior mining finance data provide... READ MORE

June 13, 2017

The Week of June 5th to June 11th, 2017 "A Brief Look Back Into Tomorrow"

The new North American trading week began on Monday June 5th with... READ MORE

June 12, 2017

The Week of May 29th to June 4th, 2017 "A Brief Look Back Into Tomorrow"

The new North American trading week began on Monday, May 29th wit... READ MORE

June 6, 2017

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions