ORENINC INDEX – Monday, December 20^th, 2021

North America’s leading junior mining finance data provider

Last Week: 81.22 (Updated)

This week: 56.42

The Oreninc Index decreased in the trading week ending December 17th, 2021 to 56.42 from 81.22 a week ago as the appetite weakens just before 2021 comes to an end.

On to the money: the aggregate financings announced decreased to $115 million, a 2-week low, with one new brokered financings and no new bought-deal financings announced. The average offer size increased to $2.7 million, a 4-week high, and the number of financings decreased to 42.

Gold closed the week up at $1,784/oz from $1,784/oz a week ago. The US dollar index closed down at 96.10 from 96.10 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week down at $40.57 from $40.57 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 242.04 from 242.04 last week. The SPDR GLD ETF inventory closed the week higher at 982.64 tonnes, or 31.59 million ounces, from 984.38 tonnes last week.

In other commodities, Silver closed the week lower at $22.16/oz from $22.16/oz a week ago. Copper closed higher at $4.28/lb from $4.28/lb a week ago. Oil went higher as WTI closed higher at $71.67 a barrel from $71.67 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 35,971 from 35,971 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,890 from 20,890 the previous week. The S&P/TSX Venture Composite Index closed lower at 908.99 from 908.99 a week ago.

Summary:

• Number of financings lessened to 42.
• One brokered financing was announced this week for $2.5m, a 12-week low.
• No bought-deal financing was announced this week.
• Total dollars decreased to $115m, a 2-week low.
• Average offer increased to $2.7m, a 4-week high.

Major Financing Openings:

• Skeena Resources Limited (TSX-V:SKE) opened a $30.91 million offering on a best efforts basis. The deal is expected to close on or about December 23, 2021.
• Gratomic Inc. (TSX-V:GRAT) opened a $20.02 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 6 months.
• West High Yield Resources Ltd. (TSX-V:WHY) opened a $14.5 million offering underwritten by a syndicate led by GloRes Securities Inc. on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 18 months.
• Nighthawk Gold Corp. (TSX-V:NHK) opened a $5.63 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 36 months.

Major Financing Closings:

• Alpha Lithium Corp. (TSX.V:ALLI) closed a $25.01 million offering underwritten by a syndicate led by Echelon Wealth Partners Inc. 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 December 1 2021.
• Falco Resources Ltd. (TSX-V:FPC) closed a $17.28 million offering underwritten by a syndicate led by CIBC Capital Markets on a bought deal basis.  Each unit includes a 1/2 warrant that expires in 48 months.
• Brixton Metals Corp. (TSX-V:BBB) closed a $12.21 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 36 months. The deal is expected to close on or about December 15, 2021.
• Frontier Lithium Inc. (TSX-V:FL) closed a $12 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a bought deal basis. The deal is expected to close on or about December 15, 2021.