Oreninc Index: December 30, 2019

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ORENINC INDEX up as financings dry up for holidays

 

ORENINC INDEX – Monday, December 30th 2019

North America’s leading junior mining finance data provider

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Last Week: 54.06 (updated)

This week: 57.69

The Oreninc Index increased in the week ending December 27th, 2019 to 57.69 an updated 54.06 a week ago despite being a much-truncated week for the seasonal holidays.

On to the money: Total funds raised announced more than halved to $24.3 million, a 17-week low, which included no brokered financings and no bought-deal financings. The average offer size more than halved to $0.71 million, a 29-week low, while the number of financings decreased to 34.

Gold continued its bounce-back over the holiday period as the spot price closed up at US$1,510/oz from US$1,481/oz a week ago. The yellow metal is up 17.78% so far this year. The US dollar index closed the week down at 96.91 from 97.69 last week. The VanEck managed GDXJ closed up at US$41.38 from $38.31 a week ago. The index is now up 37.5% so far in 2019. The US Global Go Gold ETF closed up at US$17.19 from $15.94 a week ago. It is up 50.91% so far in 2019. The HUI Arca Gold BUGS Index closed up at 237.45 from 219.47 last week. The SPDR GLD ETF saw its inventory get a boost as it closed up at 893.25 tonnes from 885.93 tonnes a week ago.

In other commodities, silver closed up at US$17.77/oz from $17.20/oz a week ago. The copper price also saw growth again as it closed up at US$2.82/lb from $2.80/lb last week. The oil price also gained as WTI closed up at US$61.72 a barrel from $60.44 a barrel a week ago.

The Dow Jones Industrial Average closed up again at 28,645 from 28,455 a week ago. Canada’s S&P/TSX Composite Index also closed up at 17,168 from 17,118 the previous week. The S&P/TSX Venture Composite Index closed up again at 563.58 from 548.84 last week.

 

Summary

• Number of financings decreased to 34.

• No brokered financings were announced this week.

• No bought-deal financings were announced this.

• Total dollars lessened to $24.3 million, a 17-week low.

• Average offer decreased to $0.71 million, a 29-week low.

 

Financing Highlights

Amex Exploration (TSXV:AMX) opened and closed a non-brokered private placement to raise $4.0 million.

• 466,667 flow-through units @ $1.80 and 3.2 million units @ $1.00. Each FT unit consists of one share and half a warrant. Each unit consists of one share and half a warrant exercisable @ $1.50 for 18 months.

• The units were purchased by specialized Quebec funds, including SIDEX, Fonds de solidarité FTQ, and Fonds régionaux de solidarité FTQ. 

• Proceeds will be used for exploration work on the Perron gold property in Quebec, Canada.

 

Major Financing Openings

Amex Exploration (TSXV:AMX) opened a $4.04 million offering on a best efforts basis. Each unit includes half a warrant that expires in 18 months. 

Niobay Metals (TSXV:NBY) opened a $2.32 million offering on a best efforts basis. Each unit includes half a warrant that expires in two years. 

Sirios Resources (TSXV:SOI) opened a $1.78 million offering on a best efforts basis.    

Newrange Gold (TSXV:NRG) opened a $1.5 million offering on a best efforts basis.    

 

Major Financing Closings

Sabina Gold & Silver (TSX:SBB) closed a $5 million offering underwritten by a syndicate led by Sprott Capital Partners on a bought deal basis.

Genesis Metals (TSXV:GIS) closed a $4.6 million offering on a best efforts basis.    

Amex Exploration (TSXV:AMX) closed a $4.04 million offering on a best efforts basis. Each unit included half a warrant that expires in 18 months. 

Niobay Metals (TSXV:NBY) closed a $2.32 million offering on a best efforts basis.

 

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