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Top 10 Gold Financings – April 2020

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.

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.

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