Oreninc Index Update: November 28, 2013
Oreninc Index Drops
The Oreninc Index fell for the week ending November 28, 2013. The five-week moving average was also down significantly. Total dollars fell to $44.5m for the week; $13.5m of that brokered on three deals. While a stark fall, the reduced activity was expected due to the Thanksgiving holiday in the United States. Expect for activity to pick up before the end-of-year doldrums.
Summary:
- Deals announced fell to 31, a two-week low.
- Three brokered deals were announced for $13.5m, a six-week low.
- Three bought deals were announced for $13.5m, a six-week low.
- Total dollars announced dropped to $44.5m, a six-week low.
- Average deal size decreased to $1.4m, a four-week low.
Major Financing Openings:
- Yangarra Resources Ltd. (TSX-V:YGR) opened a $12.51 million offering underwritten by a syndicate led by AltaCorp Capital Inc. on a bought deal basis. The deal is expected to close on or about December 12, 2013.
- First Bauxite Corporation (TSX-V:FBX) opened a $5 million offering on a strategic deal basis. The deal is expected to close on or about December 5, 2013.
- Maudore Minerals Ltd. (TSX-V:MAO) opened a $4.72 million offering on a best efforts basis.
- Avalon Rare Metals Inc. (TSX:AVL) opened a $2.97 million offering on a strategic deal basis.
Major Financing Closings:
- Surge Energy Inc. (TSX-V:SGY) closed a $63.27 million offering underwritten by a syndicate led by Macquarie Capital Markets on a bought deal basis.
- Trevali Mining Corp. (TSX-V:TV) closed a $46.01 million offering underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis.
- Mountain Province Diamonds (TSX:MPV) closed a $29.45 million offering on a best efforts basis.
- Artek Exploration Ltd. (TSX:RTK) closed a $17.1 million offering underwritten by a syndicate led by Peters & Co. Ltd. on a bought deal basis.
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