ORENINC INDEX – Monday, October 18th 2021
North America’s leading junior mining finance data provider
Last Week: 41.76
This Week: 48.22
The Oreninc Index decreased in the trading week ending October 15th, 2021 to 48.22 from 41.76 a week ago as the appetite for financings in the junior mining sector remains weak.
On to the money: the aggregate financings announced increased to $77 million, a 2-week high, with 3 new brokered financings and no new bought-deal financings announced. The average offer size increased to $3.8 million, a 2-week high, and the number of financings decreased to 20.
Gold closed the week up at $1,768/oz from $1,757/oz a week ago. The US dollar index closed down at 93.92 from 94.07 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $43.58 from $40.78 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 240.49 from 240.49 last week. The SPDR GLD ETF inventory closed the week higher at 980.10 tonnes, or 31.51 million ounces, from 1,000.79 tonnes last week.
In other commodities, Silver closed the week higher at $23.34/oz from $22.70/oz a week ago. Copper closed higher at $4.72/lb from $4.27/lb a week ago. Oil went higher as WTI closed higher at $82.28 a barrel from $79.35 a barrel a week ago.
The Dow Jones Industrial Average closed lower at 35,295 from 34,746 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,928 from 20,416 the previous week. The S&P/TSX Venture Composite Index closed higher at 937.67 from 877.48 a week ago.
Summary:
Major Financing Openings:
. Erdene Resource Development Corp. (TSX:ERD) opened a $6.29 million offering underwritten by a syndicate led by BDSec SC JSC on a best efforts basis.
Major Financing Closings:
Elevation Gold Mining Corporation (TSX-V: ELVT) (OTCQB: EVGDF) i... READ MORE
Reunion Gold Corporation (TSX-V: RGD; OTCQX: RGDFF) is pleased to announ... READ MORE
Puma Exploration Inc. (TSX-V: PUMA) (OTCQB: PUMXF) is thrilled to... READ MORE
Grid Metals Corp. (TSX-V:GRDM) (OTCQB:MSMGF) is pleased to announ... READ MORE
Azimut Exploration Inc. (TSX-V: AZM) (OTCQX: AZMTF) is pleased ... READ MORE