Gold accounted for seven of the top ten largest financings closed in Canadian capital markets in April, with silver collecting the other three spots. The top ten deals closed aggregated $316.1 million a 166.1% increase from the $118.8 million closed in March, and representing 88.8% of the $356.0 million in deals closed, with seven deals over $10 million. Osisko Gold Royalties led the way with a $85 million raise followed by Orla Mining ($75 million), MAG Silver ($60 million) and Skeena Resources ($33.3million).
Oreninc gives an honorable mention to SilverCrest Metals (TSX:SIL) which narrowly missed top by raising a tad too much money when its $75 million private placement was upsized to $101 million and above the threshold of financings we count. SilverCrest then raised another $27 million when strategic investor SSR Mining (TSX:SSRM) exercised its pro rata rights to bring the total to $128 million. Impressive stuff.
Osisko Gold Royalties led the gold rankings in April with a $85 million raise followed by Orla Mining ($75 million), Skeena Resources ($33.3 million) and Seabridge Gold ($14.1 million). The top ten yellow metal financings aggregated $232.1 million a 130.9% increase from the $100.5 million closed in March, and accounting for 65.2% of the total closed, with five financings of more than $10 million.
Base metals deals continued to generate market interest away with the top financings closed raising $8.8 million in April, although this was 49.1% more than the $5.9 million raised in March, representing just 2.5% of the total. Rathdowney Resources led the way at $3 million, with only four financings for more than $1 million.
Battery metals fared even worse in April with $1.2 million raised, 78.2% less than the $5.5 million raised in March, 0.3% of the total and with no raise of more than $1 million.
March saw 61 deals close, a 17.6% fall from the 74 deals closed in March, which included 35 financings closed for less than $1 million, 47.3% of the total, while 9.5% were for more than $10 million.