Oreninc Index Continues Modest Growth
The Oreninc Index continued its slow upward trend for the week ending May 8, 2014. Total dollars announced exploded to $165.2m, an eight-week high. Brokered dollars announced was $90.8m on four deals, a two-week low; bought dollars announced rose to $90m on three deals, a nine-week high. Though not an overwhelming jump, it is still nice to see a positive trend, especially compared to the previous month. That being said, it would be surprising if this type of growth continues into the summer.
Summary:
- Deals announced rose to 39, a five-week high.
- Four brokered deals were announced for $90.8m, a two-week low.
- Three bought deals were announced for $90m, a nine-week high.
- Total dollars announced exploded to $165.2m, an eight-week high.
- Average deal size fell to $4.2m, a two-week low.
Major Financing Openings:
- DeeThree Exploration Ltd. (TSX:DTX) opened a $70.05 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal basis. The deal is expected to close on or about May 27, 2014.
- PRD Energy Inc. (TSX-V:PRD) opened a $21.5 million offering underwritten by a syndicate led by Macquarie Capital Markets Canada Ltd. on a bought deal basis. The deal is expected to close on or about May 22, 2014.
- PanTerra Resource Corp. (TSX-V:PRC) opened a $20 million offering on a best efforts basis. The deal is expected to close on or about May 22, 2014.
- Altima Resources Ltd. (TSX-V:ARH) opened a $12.5 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 12 months. The deal is expected to close on or about May 21, 2014.
Major Financing Closings:
- Marquee Energy Ltd. (TSX-V:MQL) closed a $20.13 million offering underwritten by a syndicate led by National Bank Financial Inc. on a bought deal basis.
- West Kirkland Mining Inc. (TSX-V:WKM) closed a $8.25 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 60 months.
- Barkerville Gold Mines Ltd. (TSX-V:BGM) closed a $6.89 million offering on a best efforts basis.
- Kilo Goldmines Ltd. (TSX-V:KGL) closed a $6 million offering on a best efforts basis.