ORENINC INDEX – Monday, October 25th 2021

North America’s leading junior mining finance data provider

Last Week: 52.84 (Updated)

This week: 79.49

The Oreninc Index increased in the trading week ending October 22nd, 2021 to 79.49 from 52.84 a week ago as the appetite for junior mining financings seems to increase.

On to the money: the aggregate financings announced increased to $158.8 million, a 9-week high, with 4 new brokered financings and two new bought-deal financings announced. The average offer size increased to $3.7 million, a 5-week high, and the number of financings decreased to 43.

Gold closed the week up at $1,796/oz from $1,768/oz a week ago. The US dollar index closed down at 93.64 from 93.92 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $44.44 from $43.58 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 259.75 from 240.49 last week. The SPDR GLD ETF inventory closed the week higher at 978.07 tonnes, or 31.45 million ounces, from 980.10 tonnes last week.

In other commodities, Silver closed the week higher at $24.44/oz from $23.34/oz a week ago. Copper closed higher at $4.72/lb from $4.72/lb a week ago. Oil went higher as WTI closed higher at $84.06 a barrel from $82.28 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 35,677 from 35,295 a week ago. Canada’s S&P/TSX Composite Index closed higher at 21,216 from 20,928 the previous week. The S&P/TSX Venture Composite Index closed higher at 948.84 from 937.67 a week ago.

Summary:

• Number of financings increased to 43.
• Four brokered financing were announced this week for $82m, a 9-week high.
• Two bought-deal financing were announced this week for $25m, an 8-week high.
• Total dollars increased to $158.8m, a 9-week high.
• Average offer heightened to $3.7m, a 5-week high.

Major Financing Openings:

• TDG Gold Corp. (TSX-V:TDG) opened a $50 million offering underwritten by a syndicate led by BMO Capital Markets on a best efforts
• C3 Metals Inc. (TSX-V:CCCM) opened a $15 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a bought deal The deal is expected to close on or about November 9, 2021.
• Highgold Mining Inc. (TSX-V:HIGH) opened a $15 million offering on a best efforts   The deal is expected to close on or about October 27, 2021.
• Aurcana Silver Corp. (TSX-V:AUN) opened a $72 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 36 months.

Major Financing Closings:

• Bonterra Resources Inc. (TSX-V:BTR) closed a $66 million offering underwritten by a syndicate led by Cormark Securities Inc. on a best efforts basis.   The deal is expected to close on or about October 19, 2021.
• Meridian Mining UK Societas (TSX-V:MNO) closed a $38 million offering underwritten by a syndicate led by Beacon Securities Ltd on a best efforts basis.   The deal is expected to close on or about October 19, 2021.
• Arena Minerals Inc. (TSX-V:AN) closed a $10 million offering on a best efforts
• Aurania Resources Ltd. (TSX-V:ARU) closed a $16 million offering on a best efforts basis. The deal is expected to close on or about October 20, 2021.