The Oreninc Index increased by its largest margin of 2014 for the week ending June 26, 2014. After last week’s implosion, this type of performance, where all metrics have increased by an impressive margin, is a welcome sight. Total dollars announced exploded to $188.4m, a 15-week high. Brokered dollars announced rose to $122.3m, a 15-week high; bought dollars announced increased to $92m, a 16-week high.
In addition to the positive fundraising news, HudBay announced its long-awaited acquisition of Augusta Resources (and with it their Rosemont Copper project), in what is a follow-up of sorts to last week’s deal making in the copper space. While it is always good to see activity like this, it is important to remember that the positive fundraising numbers are likely a direct result of companies wanting to get news out before next week’s holiday-filled work week and the uptick in spot gold prices this week. Don’t expect the Index to stay at this level for very long, with it likely to trend down to a more modest level after next week.
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.
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