ORENINC INDEX – Monday, January 9th, 2023

North America’s leading junior mining finance data provider

Last Week: 40.01

This week: 34.19

The Oreninc Index decreased in the trading week ending January 5th, 2023 to 34.19 from 40.01 a week ago as no new financings were announced in the first week of 2023.

On to the money: the aggregate financings announced increased to $15 million, a 2-week high, with no new brokered financings and no new bought-deal financings announced. The average offer size decreased to $0.8 million, a 2-week high, and the number of financings decreased to 20.

Gold closed the week higher at $1,859/oz from $1,826/oz a week ago. The US dollar index closed higher at 105.04 from 103.84 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $38.13 from $35.93 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 247.13 from 230.80 last week. The SPDR GLD ETF inventory closed the week higher at 912.41 tonnes from 912.41 tonnes last week.

In other commodities, Silver closed the week lower at $23.42/oz from $24.25/oz a week ago. Copper closed higher at $3.82/lb from $3.82/lb a week ago. Oil went higher as WTI closed lower at $73.97 a barrel from $78.61 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 32,929 from 33,221 a week ago. Canada’s S&P/TSX Composite Index closed higher at 19,506 from 19,258 the previous week. The S&P/TSX Venture Composite Index closed higher at 571.12 from 564.77 a week ago.

Summary:

• The number of financings decreased to 20.
• No brokered financing was announced this week.
• No bought-deal financing was announced this week.
• Total dollars increased to $15m, a 2-week high.
• The average offer upped to $0.8m, a 2-week high.

Major Financing Openings:

• Triumph Gold Corp. (TSX-V:TIG) opened a $75 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 0 months.
• St-Georges Eco-Mining Corp. (CSE:SX) opened a $05 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months.
• Baru Gold Corp. (TSX-V:BARU) opened a $5 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 12 months. The deal is expected to close on or about February 15, 2023.
• G2 Energy Corp. (CSE:GTOO) opened a $5 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 12 months. The deal is expected to close on or about January 30, 2023.

Major Financing Closings:

• Quebec Nickel Corp. (CSE:QNI) closed a $7 million offering underwritten by a syndicate led by EMD Financial Inc. on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about December 29, 2022.
• Meridian Mining UK Societas (TSX-V:MNO) closed an $86 million offering underwritten by a syndicate led by Beacon Securities Ltd. on a best-efforts basis. The deal is expected to close on or about December 6, 2022.
• Recharge Resources Ltd. (CSE:RR) closed a $97 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 24 months. The deal is expected to close on or about December 21, 2022.
• Sennen Potash Corp. (TSX-V:SN) closed a $76 million offering on a best-efforts basis.