ORENINC INDEX – Monday, April 18th 2022

North America’s leading junior mining finance data provider

Last Week: 69.15

This week: 47.68

The Oreninc Index decreased in the trading week ending March 14th, 2022 to 47.68 from 69.15 a week ago as financing appetite falls.

On to the money: the aggregate financings announced decreased to $95 million, a 3-week low, with 7 new brokered financings and 6 new bought-deal financings announced. The average offer size increased to $5.3 million, a 2-week high, and the number of financings decreased to 18.

Gold closed the week higher at $1,974/oz from $1,945/oz a week ago. The US dollar index closed higher at 100.32 from 99.80 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week up at $51.03 from $48.42 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 304.20 from 312.74 last week. The SPDR GLD ETF inventory closed the week higher at 1,099.49 tonnes, or 35.49 million ounces, from 1088.75 tonnes last week.

In other commodities, Silver closed the week higher at $25.85/oz from $24.82/oz a week ago. Copper closed flat at $4.72/lb from $4.72/lb a week ago. Oil went higher as WTI closed higher at $106.95 a barrel from $98.26 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 34,450 from 34,723 a week ago. Canada’s S&P/TSX Composite Index closed lower at 21,855 from 21,874 the previous week. The S&P/TSX Venture Composite Index closed higher at 892.50 from 888.21 a week ago.

Summary:

• Number of financings decreased to 18.
• Seven brokered financing were announced this week for $51m, a 4-week high.
• Six bought-deal financing were announced this week for $45m, a 4-week high.
• Total dollars decreased to $95m, a 3-week low.
• Average offer increased to $5.3m, a 2-week high.

Major Financing Openings:

• Nighthawk Gold Corp. (TSX-V:NHK) opened a $25 million offering underwritten by a syndicate led by Sprott Capital Partners 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 March 5, 2022.
• Alexco Resource Corp. (TSX:AXR) opened a $13.08 million offering on a best efforts basis.    The deal is expected to close on or about April 13, 2022.
• EMX Royalty Corp. (TSX-V:EMX) opened a $12.58 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 60 months.
• Gold Mountain Mining Corp. (TSX-V:GMTN) opened a $12 million offering underwritten by a syndicate led by Eight Capital 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 21, 2022.

Major Financing Closings:

• Fireweed Zinc Ltd. (TSX-V:FWZ) closed a $13.16 million offering on a best efforts basis.
• Alexco Resource Corp. (TSX:AXR) closed a $13.08 million offering on a best efforts basis.    The deal is expected to close on or about April 13, 2022.
• EMX Royalty Corp. (TSX-V:EMX) closed a $12.58 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 60 months.
• Canada Silver Cobalt Works Inc. (TSX-V:CCW) closed a $6.04 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 April 14, 2022.