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Oreninc Index Shows Signs of Life

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Oreninc Index Shows Signs of Life

 

 

 

 

 

 

The Oreninc Index jumped to a four-week high for the week ending September 19, 2013. Total dollars announced rose to $198.9m, with an average deal size of $7.95m for the week. These numbers mostly reflect three $40m-plus deals announced, but even without them average deal size would have nearly doubled compared to last week. Broker activity increased with four deals announced for $72.1m. After a more stagnant than expected first couple weeks of September, the Index seems to be showing some life as we head into Autumn even if we aren’t holding our breath.

 

 

  

 

 

Summary:

 

  • Total deals dropped to 25, a seven-week low.
  • Three brokered deals were announced for $72.1m, a six-week high.
  • Three bought deals were announced for $69.1m, a six-week high.
  • Dollars announced exploded to $198.9m, a six-week high.
  • Average deal size rose to $7.95m, a 27-week high.

 

 

Major Financing Openings:

 

  • US Oil Sands Inc. (TSX-V:USO) opened an $80 million offering on a best efforts basis.    The deal is expected to close on or about October 15, 2013.
  • Strategic Oil & Gas Ltd. (TSX-V:SOG) opened a $48.2 million offering underwritten by a syndicate led by Raymond James Ltd. on a bought deal basis.
  • Sulliden Gold Corporation (TSX:SUE) opened a $40.09 million offering underwritten by a syndicate led by National Bank Financial Inc. on a bought deal basis.    The deal is expected to close on or about October 11, 2013.
  • Explor Resources Inc. (TSX-V:EXS) opened a $10.24 million rights offering.

 

 

Major Financing Closings:

 

  • Atico Mining Corp. (TSX-V:ATY) closed a $19.4 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 24 months.
  • Argex Titanium Inc. (TSX-V:RGX) closed a $10 million offering on a strategic deal basis. The deal was expected to close on or about September 16, 2013.
  • Veris Gold Corp. (TSX:VG) closed a $7.8 million offering underwritten by a syndicate led by Secutor Capital Management on a best efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.
  • Quaterra Resources Inc. (TSX-V:QTA) closed a $3.08 million offering  on a best efforts basis. The deal was expected to close on or about August 28, 2013.

 

 

 

 

Oreninc also publishes the Oreninc Deal Log, a daily list of all financing activity in the TSX 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.

 

Posted September 25, 2013

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