Gold accounted for seven of the top ten largest financings closed in Canadian capital markets in July, with copper and silver collecting the other spots. The top ten deals closed aggregated $234.3 million, a 5.8% decline from the $248.6 million closed in June, and representing 38.3% of the $612.1 million in deals closed. Caldas Gold led the way with a $50 million raise followed by Freegold Ventures ($34.5 million) and Filo Mining ($30 million).

Raises for gold projects aggregated $429.7 million in July, some 70.2% of the total. Caldas Gold led the gold rankings with a $50 million raise followed by Freegold Ventures ($34.5 million) and Osino Resources ($17.7 million). The top ten yellow metal financings aggregated $197.4 million in July, a 10.6% increase from the $178.5 million closed in June, and accounting for 32.2% of the total closed, with all ten financings of more than $10 million. 

Base metals deals saw a strong month in July with the top ten financings closed raising $92.7 million, 260.7% more than the $25.7 million raised in June, representing 15.1% of the total closed. Filo Mining led the way with raises of $30 million and $11.7 million, followed by Vizsla Resources ($30 million), with three financings for more than $10 million.

Battery metals also showed some signs of life in July with $21.6 million raised in ten deals, 535.3% more than the $3.4 million raised in June and 3.5% of the total. There were eight raises for more than $1 million led by Pan Global resources ($4.1 million).

July saw financing activity continue to increase with 216 deals closed, a 22.7% increase over the 176 deals closed in June, which included 15 financings for more than $10 million, 6.9% of the total, and 105 closed for less than $1 million, 48.6% of the total.