ORENINC INDEX – Monday, July 26th 2021

North America’s leading junior mining finance data provider

Last Week: 42.07 (Updated)

This Week: 46.81

The Oreninc Index increased in the trading week ending July 23rd, 2021 to 46.81 from 42.07 a week ago as large financings from Rio2 Ltd. and Banyan Gold Corp pushed the index higher.

On to the money: the aggregate financings announced increased to $83.5 million, a 2-week high, with 4 new brokered financings and 1 new bought-deal financings announced. The average offer size increased to $3.8 million, a 2-week high, and the number of financings decreased to 22.

Gold closed the week down at $1,801/oz from $1,809/oz a week ago. The US dollar index closed higher at 92.91 from 92.89 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $43.63 from $43.38 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 258.93 from 259.46 last week. The SPDR GLD ETF inventory closed the week lower at 1,027.38 tonnes, or 33.03 million ounces, from 1,028.55 tonnes last week.

In other commodities, Silver closed the week higher at $25.23/oz from $25.14/oz a week ago. Copper closed higher at $4.40/lb from $4.21/lb a week ago. Oil went higher as WTI closed higher at $72.07 a barrel from $66.42 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 35,061 from 33,936 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,188 from 19,726 the previous week. The S&P/TSX Venture Composite Index closed lower at 902.56 from 870.91 a week ago.

Summary:

• Number of financings decreased to 22.
• Four brokered financings were announced this week for $37.5m, a 2-week high.
• One bought-deal financing was announced this week for $10m, a 2-week high.
• Total dollars increased to $83.5m, a 2-week high.
• Average offer heightened to $3.8m, a 2-week high.

Major Financing Openings:

• Rio2 Ltd. (TSX-V:RIO) opened a $4 million offering underwritten by a syndicate led by Scotiabank on a best efforts basis. The deal is expected to close on or about June 8, 2021.
• Banyan Gold Corp. (TSX-V:BYN) opened a $16 million offering on a best efforts   The deal is expected to close on or about November 30, 2021.
• Newcore Gold Ltd. (TSX-V:NCAU) opened a $10 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal The deal is expected to close on or about August 4, 2021.
• Norzinc Ltd. (TSX:NZC) opened a $8 million offering on a best efforts Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about August 4, 2021.

Major Financing Closings:

• Azimut Exploration Inc. (TSX-V:AZM) closed a $75 million offering underwritten by a syndicate led by Paradigm Capital Inc. on a bought deal basis.   The deal is expected to close on or about July 14, 2021.
• New Oroperu Resources Inc. (TSX-V:ORO) closed a $04 million offering underwritten by a syndicate led by Haywood Securities Inc on a best efforts basis.
• Major Precious Metals Corp. (CSE:SIZE) closed a $10 million offering on a best efforts Each unit includes a 1/2 warrant that expires in 24 months.
• Blue Star Gold Corp. (TSX-V:BAU) closed a $43 million offering on a best efforts basis.