Oreninc Index Remains Steady

The Oreninc Index increased slightly for the week ending February 27, 2014. Total dollars announced rose to $176.7m, a two-week high. Seven brokered deals were announced for $89.3m, one of them bought for $70.2m. Average deal size dropped to $4.2m, a two-week low. Deals announced rose to 42, a nine-week high. The increase in number of deals is likely due to the approach of the PDAC International Convention. Though it was only a small increase, seeing the Index improve is a positive step in the right direction. 

Oreninc Index Jumps

The Oreninc Index jumped back up for the week ending February 20, 2014. Total dollars announced rose to $218.9m, a three-week high. Brokered deals announced also increased to $45m off of four deals, two of them were bought for a combined $30m, both three-week highs. Though these are optimistic numbers, the amount of brokered activity relative to the total amount announced remained low, which held it back from being a stand-out week. Don't be surprised if this relative health lingers as we head into March and the PDAC International Convention.

Oreninc Index Falls

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The Oreninc Index fell for the week ending February 13, 2014. Total dollars announced fell to $27m on 19 deals, a five-week low. Brokered and bought dollars were both down, with one deal at $10.8m announced, also a five-week low. After three strong weeks beginning in mid-January, the Oreninc Index fell last week to modest levels and continued to fall even further this week. While this drop in performance is disappointing after a string of encouraging weeks, there is still room for optimism as we approach the PDAC.

Oreninc Index Crashes with Only Six Deals Announced

The Oreninc Index crashed for the week ending January 9, 2014. The reason for the fall was the lack of announced deals, which fell all the way to six, a multi-year low. Total dollars announced and average deal size both increased to $31.6m and $5.2m, respectively. With average deal size remaining strong, total dollars announced actually increasing, and a $150m dollar announcement that does not count towards the Index taking place, it is not all doom and gloom despite this week’s poor statistical performance. Even if we are still mildly cautious after a lackluster three weeks, expect a jump next week as we head into conference season.

Oreninc Index Falls Over Holiday-Shortened Weeks

The Oreninc Index dropped for the two holiday-shortened weeks ending January 2, 2014. Total dollars and average deal size stumbled lower than any level previously in 2013, and there were no brokered or bought deals in either week. While obviously not an encouraging sign, the fact that these two weeks included three non-trading days explains the poor performance for the most part. Expect this valley to rise at least a little as we head into 2014.