The Oreninc Index stayed level for the week ending May 7, 2015. Total dollars announced increased to $92.7m, a four-week high. Four brokered deals were announced for $76.9m, a four-week low; three bought deals were announced for $26.9m, a two-week low.
The most significant deal-making news of the week was already expected, with BHP Billton Ltd. (NYSE:BBL) shareholders voting in favor of a proposed spin-out of a portion of the Australian miner’s assets into a new BHP shareholder-owned company, South32, which will be listed in Australia, South America and London later this month. Iron ore continued its rise, reaching above $60 per tonne for the first time in nine weeks.
Easily the most encouraging part of the week was iron ore’s continued rise after such a rough period for the base metal. Obviously, seeing the increased Index level and continued broker support is also nice, but it will take a couple more weeks of good financing numbers before any real optimism can really be gleaned from it.
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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