Oreninc Index Up During Holiday-Shortened Week
Note: The Oreninc Index image below has changed since indexes before May 2013. The weekly state of the market is now the purple line and the five-week moving average is the grey area.
The Oreninc Index climbed to a three-week high during the holiday-shortened week ending May 23, 2013. Total dollars announced was down while brokered dollars announced jumped to a three-week high and the second highest in seven weeks. Next week will likely be slow with market closures in the United States and United Kingdom.
Summary:
- Total deals announced increased to 25, a two-week high.
- Two brokered deals were announced for $35 million dollars, a three-week high.
- One bought deal was announced for $25 million.
- Total dollars announced was $51 million, a two-week low.
- Average deal size fell to $2.1 million, a two-week low.
Major Financing Openings:
- Colossus Minerals Inc. (TSX:CSI) opened a $25 million offering underwritten by a syndicate led by GMP Securities L.P. on a bought deal basis. The deal is expected to close on or about June 12, 2013.
- Trevali Mining Corp. (TSX:TV) opened a $10 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 June 12, 2013.
- Americas Bullion Royalty Corp. (TSX:AMB) opened a $2.25 million offering on a best efforts basis.
- Pacific Potash Corporation (TSX:PP) opened a $2 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 30 months.
Major Financing Closings:
- Maudore Minerals Ltd. (TSX-V:MAO) closed a $15.51 million offering underwritten by a syndicate led by GMP Securities L.P. on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
- Platino Energy Corp. (TSX-V:PZE) closed a $0.66 million offering on a best efforts basis.
- Golden Bridge Mining Corporation (TSX-V:GBM) closed a $0.44 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 12 months.
- Hi Ho Silver Resources Inc. (CNSX:HHS) closed a $0.37 million offering on a best efforts basis.