ORENINC INDEX – Monday, October 11th 2021

North America’s leading junior mining finance data provider

Last Week: 56.99 (Updated)

This week: 41.76

The Oreninc Index decreased in the trading week ending October 8th, 2021 to 41.76 from 56.99 a week ago as the average offer falls to $2.5 million.

On to the money: the aggregate financings announced decreased to $65 million, a 2-week low, with 4 new brokered financings and no new bought-deal financings announced. The average offer size decreased to $2.5 million, a 2-week low, and the number of financings increased to 26.

Gold closed the week down at $1,757/oz from $1,758/oz a week ago. The US dollar index closed up at 94.07 from 94.04 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $40.78 from $38.35 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 240.49 from 228.28 last week. The SPDR GLD ETF inventory closed the week higher at 1,000.79 tonnes, or 32.17 million ounces, from 998.17 tonnes last week.

In other commodities, Silver closed the week higher at $22.70/oz from $22.53/oz a week ago. Copper closed higher at $4.27/lb from $4.18/lb a week ago. Oil went higher as WTI closed higher at $79.35 a barrel from $75.88 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 34,746 from 34,327 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,416 from 20,150 the previous week. The S&P/TSX Venture Composite Index closed higher at 877.48 from 865.88 a week ago.

Summary:

• Number of financings decreased to 26.
• Four brokered financing were announced this week for $17m, a 2-week low.
• No bought-deal financing was announced this week.
• Total dollars lessened to $65m, a 2-week low.
• Average offer fell to $2.5m, a 2-week low.

Major Financing Openings:

• EMX Royalty Corp. (TSX-V:EMX) opened a $16.5 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 24 months.
• Aurania Resources Ltd. (TSX-V:ARU) opened a $8 million offering on a best efforts basis.    The deal is expected to close on or about October 20, 2021.
• Tudor Gold Corp. (TSX-V:TUD) opened a $7 million offering underwritten by a syndicate led by Research Capital Corp. on a best efforts basis.  The deal is expected to close on or about November 1, 2021.
• Otso Gold Corp. (TSX-V:OTSO) opened a $6.34 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 60 months.

Major Financing Closings:

• American Manganese Inc. (TSX-V:AMY) closed a $20 million offering underwritten by a syndicate led by Alliance Global Partners on a best efforts basis.  Each unit includes 1 warrant that expires in 36 months. The deal is expected to close on or about April 10, 2021.
• Perpetual Energy Inc. (TSX:PMT) closed a $20 million offering on a best efforts basis.
• Lumina Gold Corp. (TSX-V:LUM) closed a $18.99 million offering on a best efforts basis.    The deal is expected to close on or about October 4, 2021.
• Sabina Gold & Silver Corp. (TSX:SBB) closed a $13.47 million offering on a best efforts basis. The deal is expected to close on or about September 30, 2021.