Oreninc Index Falls for Third Straight Week
The Oreninc Index fell for the third straight week for the week ending September 12, 2013. Total dollars announced fell to $23.12m on 27 deals, three of which were brokered for $9.82m. Average deal size stumbled to $0.86m, its lowest level and the first time it’s fallen below $1m in 36 weeks. After a promising August, summer stagnation seems to be lasting longer than in previous years, bleeding into a time that has traditionally been active in the financing markets.
Summary:
- Total deals fell to 27, a six-week low.
- Three brokered deals were announced for $9.82m, a six-week low.
- One bought deal was announced for $5.82m, a one-week high.
- Dollars announced fell to $23.12m, a six-week low.
- Average deal size fell to $0.86m, a 36-week low.
Major Financing Openings:
- Atna Resources Ltd. (TSX:ATN) opened a $5.82 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 September 24, 2013.
- Banks Island Gold Ltd. (TSX-V:BOZ) opened a $4 million offering underwritten by a syndicate led by Secutor Capital Management on a best efforts basis. Each unit includes 1 warrant that expires in 18 months. The deal is expected to close on or about September 23, 2013.
- EnerGulf Resources Inc. (TSX-V:ENG) opened a $2 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.
- Khan Resources Inc. (TSX:KRI) opened a $1.19 million offering on a best efforts basis.
Major Financing Closings:
- Uranerz Energy Corporation (TSX:URZ) closed a $10.4 million offering underwritten by a syndicate led by Haywood Securities on a bought deal basis. Each unit includes a 1/2 warrant that expires in 30 months. The deal is expected to close on or about September 6, 2013.
- Pretium Resources Inc. (TSX:PVG) closed a $10 million offering on a strategic deal basis. The deal is expected to close on or about September 12, 2013.
- Mawson Resources Limited (TSX:MAW) closed a $4.2 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
- San Gold Corp. (TSX:SGR) closed a $4 million offering underwritten by a syndicate led by Primary Capital on a best efforts basis.