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Gold accounted for five of the top ten largest financings closed in Canadian capital markets in August, with copper, silver lithium and oil collecting the other spots. The top ten deals closed aggregated $249.9 million, a 6.7% increase from the $234.3 million closed in July, and representing 32.1% of the $777.7 million in deals closed. Lion One Metals led the way with a $39.8 million raise followed by Amarillo Gold ($35.7 million) and Discovery Metals ($35 million).


Raises for gold projects aggregated $442.4 million in August, some 56.9% of the total. Lion One Metals led the gold rankings with a $39.8 million raise followed by Amarillo Gold ($35.7 million and $21 million) and Chesapeake Gold ($20 million). The top ten yellow metal financings aggregated $186.5 million in August, a 5.5% fall from the $197.4 million closed in July, and accounting for 24% 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 11.9% 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 had a stronger month in August with $55.5 million raised in the top ten deals, 156.9% more than the $21.6 million raised in the July top ten deals, and 7.1% of the total. There were two raises for more than $10 million led by Josemaria Resources ($19.4 million and $11.6 million). Seven of the top ten base metal raises were for copper projects.


July saw financing activity continue to increase with 227, a 5.1% increased over the 216 deals closed in July, which included 20 financings for more than $10 million, 8.8% of the total, and 88 closed for less than $1 million, 38.8% of the total.


Posted September 11, 2020

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