ORENINC INDEX – April 3rd, 2023

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ORENINC INDEX – Monday, April 3rd, 2023

North America’s leading junior mining finance data provider

Last Week: 55.11

This week: 49.08

Summary:

  • The number of financings decreased to 27.
  • Six brokered financings were announced this week for $29m, a 6-week low.
  • One bought deal financing was announced this week for $15m, a 2-week high.
  • Total dollars increased to $81.7m, a 2-week high.
  • The average offer upped to $3m, a 2-week high.

Major Financing Openings:

  • Asante Gold Corp. (TSX-V:ASE) opened a $27.35 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 12 months. The deal is expected to close on or about April 3, 2023.
  • Montage Gold Corp. (TSX-V:MAU) opened a $15 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a bought-deal basis. The deal is expected to close on or about April 12, 2023.
  • Sterling Metals Corp. (TSX-V:SAG) opened a $5.03 million offering underwritten by a syndicate led by PI Financial Corp. on a best-efforts basis. Each unit includes 1 warrant that expires in 24 months. The deal is expected to close on or about April 17, 2023.
  • Hercules Silver Corp. (TSX-V:BIG) opened a $5 million offering underwritten by a syndicate led by Canaccord Genuity Corp on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about April 20, 2023.

Major Financing Closings:

  • Foran Mining Corp. (TSX-V:FOM) closed a $100 million offering underwritten by a syndicate led by Eight Capital on a best-efforts basis. The deal is expected to close on or about March 27, 2023.
  • Rubellite Energy Inc. (TSX:RBY) closed a $20 million offering on a best-efforts basis. The deal is expected to close on or about March 28, 2023.
  • Snowline Gold Corp. (CSE:SGD) closed a $19.16 million offering on a best-efforts basis. The deal is expected to close on or about March 28, 2023.
  • Yangarra Resources Ltd. (TSX-V:YGR) closed a $17.25 million offering underwritten by a syndicate led by ATB Capital Markets Inc. on a bought-deal basis. The deal is expected to close on or about March 27, 2023.

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