Oreninc Index Update: February 20, 2014
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.
Summary:
- Deals announced rose to 38, a three-week high.
- Four brokered deals were announced for $45.0m, a three-week high.
- Two bought deal were announced for $30.0m, a three-week high.
- Total dollars announced exploded to $218.9m, a three-week high.
- Average deal size increased to $5.8m, a three-week high.
Major Financing Openings:
- Mill City Gold Corp. (TSX-V:MC) opened a $44 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 12 months.
- Perseus Mining Ltd. (TSX:PRU) opened a $31.98 million offering on a best efforts basis. The deal is expected to close on or about February 21, 2014.
- Reservoir Minerals Inc. (TSX-V:RMC) opened a $23 million offering on a best efforts basis. The deal is expected to close on or about March 20, 2014.
- SilverCrest Mines Inc. (TSX-V:SVL) opened a $20.02 million offering underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis. The deal is expected to close on or about March 13, 2014.
Major Financing Closings:
- Tamarack Valley Energy Ltd. (TSX-V:TVE) closed a $60.2 million offering underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis.
- True Gold Mining Inc. (TSX-V:TGM) closed a $51.91 million offering underwritten by a syndicate led by RBC Capital Markets on a bought deal basis. Each unit includes a 1/2 warrant that expires in 6 months.
- Storm Resources Ltd. (TSX-V:SRX) closed a $34.85 million offering underwritten by a syndicate led by FirstEnergy Capital Corp. on a bought deal basis.
- Lydian International Ltd. (TSX:LYD) closed a $17.25 million offering underwritten by a syndicate led by GMP Securities L.P. on a bought deal basis.
Comments