Oreninc Index Update: July 18, 2013
Oreninc Index Rises from Summer Lull
The Oreninc Index rose to its highest level in three weeks for the week ending July 18, 2013. Riding on the back of $67.2m announced through 27 deals, the Index rose from its relative depths. The week saw 2 brokered deals announced for $20m. Both total dollars and brokered dollars announced were six-week highs. As encouraging as this spike is, the turbulence that has plagued the current financing market is expected to linger through July and August.
Summary:
- Total deals announced rose to 28, a three-week high.
- Two brokered deals were announced for $20 million dollars, a six-week high.
- One bought deal was announced for $10 million, a two-week high.
- Total dollars announced climbed to $68.2 million, a six-week high.
- Average deal size climbed to $2.4 million, a two-week high.
Major Financing Openings:
- True Gold Mining Inc. (TSX-V:TGM) opened a $17.41 million offering on a strategic deal basis.
- Stonegate Agricom Ltd. (TSX:ST) opened a $10 million offering underwritten by a syndicate led by GMP Securities L.P. on a best efforts basis. Each unit includes 1 warrant that expires in 24 months. The deal is expected to close on or about July 24, 2013
- GoGold Resources Inc. (TSX-V:GGD) opened a $5.2 million offering on a strategic deal basis.
- Mawson Resources Limited. (TSX:MAW) opened a $4.2 million offering on a best efforts basis. Each unit includes 1/2 warrant that expires in 24 months.
Major Financing Closings:
- Almaden Minerals Ltd. (TSX:AMM) closed a $5.47 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 36 months.
- Donner Metals Ltd. (TSX-V:DON) closed a $2.79 million offering underwritten by a syndicate led by Secutor Capital Management on a best efforts basis. Each unit includes 1 warrant that expires in 60 months.
- Algold Resources Ltd. (TSX-V:KKV) closed a $1.02 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 18 months.
- Aldrin Resource Corp. (TSX-V:ALN) closed a $0.96 million offering on a best efforts basis.
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