ORENINC INDEX – Monday, December 11th, 2023

North America’s leading junior mining finance data provider

Last Week: 53.49 (Updated)

This week: 113.06

The Oreninc Index increased in the trading week ending December 8^th, 2023, to 113.06 from 53.49 as the index sees a positive number not seen in a long time!

On to the money: the aggregate financings announced increased to $197 million, a 38-week high, with eight new brokered financings and two bought-deal financings announced. The average offer size increased to $2.9 million, a 5-week high, and the number of financings increased to 69.

Gold closed the week lower at $2,014/oz from $2,089/oz a week ago. The US dollar index closed higher at 104.01 from 103.27 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week lower at $36.44 from $39.444 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 229.47 from 245.20 last week.

In other commodities, Silver closed the week lower at $23.27/oz from $25.85/oz a week ago. Copper closed lower at $3.83/lb from $3.93/lb a week ago. Oil went lower as WTI closed lower at $71.23 a barrel from $74.07 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 36,247 from 36,254 a week ago. Canada’s S&P/TSX Composite Index closed lower at 20,331 from 20,524 the previous week. The S&P/TSX Venture Composite Index closed lower at 537.50 from 546.02 a week ago.

Major Financing Openings:

• Argonaut Gold Inc. (TSX:AR) opened an $80 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought-deal basis. The deal is expected to close on or about December 12, 2023.
• Premium Nickel Resources Ltd. (TSX-V:PNRL) opened a $14.12 million offering underwritten by a syndicate led by Cormark Securities Inc. on a best-efforts basis. The deal is expected to close on or about December 14, 2023.
• Atha Energy Corp. (CSE:SASK) opened a $14 million offering underwritten by a syndicate led by Eight Capital on a best-efforts basis. The deal is expected to close on or about December 28, 2023.
• Avalon Advanced Materials Inc. (TSX:AVL) opened a $9.3 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about December 15, 2023.

Major Financing Closings:

• First Mining Gold Corporation (TSX:FF) closed a $10.83 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about December 7, 2023.
• Red Pine Exploration Inc. (TSX-V:RPX) closed a $5.24 million offering underwritten by a syndicate led by Haywood Securities Inc. on a bought-deal basis. The deal is expected to close on or about December 7, 2023.
• Amarc Resources Ltd. (TSX-V:AHR) closed a $2.77 million offering on a best-efforts basis. The deal is expected to close on or about November 30, 2023.
• Power Nickel Inc. (TSX-V:PNPN) closed a $2.75 million offering on a best-efforts basis.