The Oreninc Index reached its highest level since October for the week ending February 12, 2015. Total dollars announced exploded to $221.6m, a 17-week high. Six brokered deals were announced for $165.7m, a 48-week high; five bought deals were announced for $156.6m, a 49-week high.
Deal-making increased for the week with Tahoe Resources Inc (NYSE:TAHO) and Rio Alto Mining Ltd.’s (TSX:RIO) announcement that they will merge to form a new precious metals major. The deal will leave Tahoe and Rio shareholders with roughly 65% and 35% of the company, respectively. Gold prices slid to below $1,220 for the first time since early January on news that the US employment climate continues to improve.
Gold prices for the week were hammered on news that the US employment climate continues to improve, dropping below the $1,220 mark for the first time since early January.
It’s nice to finally see a standout week after so much stagnation in what should be the height of the money-raising season. Hopefully the Index can stay at this level, or somewhere near it, as the industry looks ahead to the PDAC in the coming weeks.
Major Financing Openings:
Major Financing Closings:
Oreninc also publishes the Oreninc Deal Log, a daily list of all financing activity in the TSX, TSX-V and CSE resource sectors. Visit http://oreninc.com to see which companies and sectors to watch. Oreninc also writes custom reports for companies on effective capital raising strategies to help companies maintain long-term shareholder value.
Read the Report Here Mercenary Alert: Is Zinc Still a Four-Letter Word? ... READ MORE
May saw 125 financings close in the Canadian financial markets for C$366.5 million including 64 fina... READ MORE
ORENINC INDEX – Monday, June 12, 2017 North America’s leading junior mining finance data provide... READ MORE
The new North American trading week began on Monday June 5th with... READ MORE
The new North American trading week began on Monday, May 29th wit... READ MORE