TOP 10 in January 2020: Zinc, Silver and Copper financings take top spots
Gold accounted for an unusually low three top ten largest financing’s closed in Canadian capital markets in January, with a smorgasbord of minerals including palladium, copper, silver and uranium also being present. The top ten deals closed aggregated $73.5 million, a 61% fall from the $188.1 million closed in December, and representing 55% of the $133.3 million in deals closed, with just three deals over $10 million.
Base metals fared better raising more than gold in the month. The top financings closed raised $39.4 million, an 8.8% increase from the $36.2 million raised in December, representing a respectable 20.9% of the total, led by Tinka Resources and Cordoba Minerals. Two of the top ten base metals closings were for more than $10 million although four were for less than $1 million.
Interest in battery metals picked up a little although it continues to be scant with $8.1 million raised in January, although this was 218% more than the $3.7 million raised in December, and 4.3% of the total. The biggest raise was $1.6 million by Rock Tech Lithium.
January saw just 80 deals close, which included a large number of keeping-the-lights-on deals with 50% of the financings closed being for less than $1 million while just 3.8% were for more than $10 million.