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Oreninc Index Stays Positive

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Oreninc Index Stays Positive

 

 

 

 

 

The Oreninc Index remained positive for the week ending July 17, 2014. Total dollars announced on the week rose to $175.3m, a three-week high. Four brokered deals were announced for $80.3m, a three-week high. No bought deals were announced for the first time in four weeks.

 

 

 

Despite the metal falling to almost a four-week low on Tuesday, a number of gold deals occurred this week, with Barrick’s deal to Joint Venture with Saudi Arabia Mining on their Jabal Sayid copper mine near Medina, Saudi Arabia leading the way.

 

 

 

 

Summary:

 

  • Deals announced jumped to 34, a two-week high.
  • Four brokered deals were announced for $80.3m, a three-week high.
  • No bought deals were announced, four-week low.
  • Total dollars rose to $175.3m, a three-week high.
  • Average deal size increased to $5.2m, a five-week high.

 

 

Major Financing Openings:

 

  • Oryx Petroleum Corporation Limited (TSX:OXC) opened a $64.13 million offering underwritten by a syndicate led by BMO Capital Markets on a best efforts basis. The deal is expected to close on or about July 18, 2014.
  • Sterling Resources Ltd. (TSX-V:SLG) opened a $34.5 million offering on a best efforts basis. The deal is expected to close on or about July 24, 2014.
  • Probe Mines Ltd. (TSX-V:PRB) opened a $26.04 million offering on a best efforts basis. The deal is expected to close on or about August 6, 2014.
  • Uranerz Energy Corporation (TSX:URZ) opened a $10.7 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis. Each unit includes a 1/2 warrant that expires in 30 months. The deal is expected to close on or about July 25, 2014.

 

 

Major Financing Closings:

 

  • MAG Silver Corp. (TSX:MAG) closed a $79.05 million offering underwritten by a syndicate led by BMO Capital Markets on a bought deal basis.   
  • St. Augustine Gold and Copper Limited (TSX:SAU) closed a $15.52 million offering on a strategic deal basis.    
  • Kaminak Gold Corp. (TSX-V:KAM) closed a $13.52 million offering on a strategic deal basis. Each unit includes a 1/2 warrant that expires in 12 months.
  • Avnel Gold Mining Ltd. (TSX:AVK) closed a $9.87 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis.

 

 

 

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.

 

Posted July 22, 2014

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