Oreninc Index Settles into Slump
The Oreninc Index fell further for the week ending December 4, 2014. Total dollars fell to $38.6m, a four-week low. Two brokered deals were announced for $1.9m, also a four-week low; no bought deals were announced for the third time in five weeks.
Deal-making picked up this week, led by Aston Bay Holdings Ltd.’s (TSX-V:BAY) announcement of the signing of their Definitive Earn-In Agreement with a wholly owned subsidiary of Antofagasta plc (LON:ANTO).
Metals prices rallied with gold hitting a five-week high on Monday the 1st (though coming back down to around $1,200 to end the week) and iron ore moving up to its highest level since mid-November, which while not huge news, is certainly better than the fall it had in recent weeks.
As the holidays approach, it seems that bankers and executives are gearing up to be out of the office and investor's checkbooks may be tapped. There is always next year....
