ORENINC INDEX – Monday, December 6th 2021

North America’s leading junior mining finance data provider

Last Week: 51.11

This week: 57.71

The Oreninc Index increased in the trading week ending December 3rd, 2021 to 57.71 from 51.11 a week ago as selling pressure from the Canadian tax loss season continues.

On to the money: the aggregate financings announced decreased to $76 million, a 8-week low, with 5 new brokered financings and no new bought-deal financings announced. The average offer size increased to $2.3 million, a 2-week low, and the number of financings decreased to 33.

Gold closed the week down at $1,783/oz from $1,785/oz a week ago. The US dollar index closed down at 96.15 from 96.21 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week down at $40.59 from $42.92 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 245.90 from 256.03 last week. The SPDR GLD ETF inventory closed the week higher at 984.38 tonnes, or 31.64 million ounces, from 978.07 tonnes last week.

In other commodities, Silver closed the week lower at $22.41/oz from $23.10/oz a week ago. Copper closed lower at $4.26/lb from $4.28/lb a week ago. Oil went higher as WTI closed lower at $66.26 a barrel from $68.15 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 34,579 from 34,908 a week ago. Canada’s S&P/TSX Composite Index closed lower at 20,633 from 21,125 the previous week. The S&P/TSX Venture Composite Index closed lower at 897.13 from 944.05 a week ago.

Summary:

• Number of financings decreased to 33.
• Five brokered financing were announced this week for $39m, a 2-week high.
• No bought-deal financing was announced this week.
• Total dollars lessened to $76m, an 8-week low.
• Average offer increased to $2.3m, a 2-week high.

Major Financing Openings:

• Northern Graphite Corporation (TSX-V:NGC) opened a $18.55 million offering underwritten by a syndicate led by Sprott group on a best efforts basis.
• Mawson Gold Ltd. (TSX:MAW) opened a $5.5 million offering underwritten by a syndicate led by Red Cloud Securities Inc. on a best efforts basis. The deal is expected to close on or about December 9, 2021.
• Euro Sun Mining Inc. (TSX:ESM) opened a $5.01 million offering underwritten by a syndicate led by Sprott Capital Partners LP on a best efforts basis. Each unit includes a 1/2 warrant that expires in 18 months. The deal is expected to close on or about December 21, 2021.
• Osisko Metals Inc. (TSX-V:OM) opened a $5 million offering underwritten by a syndicate led by Haywood Securities Inc. on a best efforts basis. The deal is expected to close on or about December 22, 2021.

Major Financing Closings:

• Northwest Copper Corp. (TSX-V:NWST) closed a $20 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 December 2, 2021.
• Freeman Gold Corp. (CSE:FMAN) closed a $16.56 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 60 months. The deal is expected to close on or about November 30, 2021.
• Baselode Energy Corp. (TSX-V:FIND) closed a $9.2 million offering underwritten by a syndicate led by PI Financial Corp. on a bought deal basis.  Each unit includes a 1/2 warrant that expires in 30 months. The deal is expected to close on or about November 30, 2021.
• Silver Elephant Mining Corp (TSX: ELEF) closed a $8.6 million offering underwritten by a syndicate led by Red Cloud securities Inc. on a best efforts basis. The deal is expected to close on or about November 24, 2021.