ORENINC INDEX down as 2023 comes to an end – January 2nd, 2024

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ORENINC INDEX – Tuesday, January 2nd, 2023

North America’s leading junior mining finance data provider

Last Week: 72.51 (Updated)

This week: 45.05

The Oreninc Index decreased in the trading week ending December 29th, 2023, to 45.05 from 72.51 as 2023 comes to and end.

On to the money: the aggregate financings announced decreased to $16 million, a 51-week low, with no new brokered financings and no bought-deal financings announced. The average offer size decreased to $0.6 million, a 52-week low, and the number of financings decreased to 27.

Gold closed the week higher at $2,071/oz from $2,059/oz a week ago. The US dollar index closed lower at 101.33 from 101.70 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week lower at $37.91 from $38.83 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 243.31 from 247.91 last week.

In other commodities, Silver closed the week lower at $24.02/oz from $24.56/oz a week ago. Copper closed lower at $3.89/lb from $3.90/lb a week ago. Oil went lower as WTI closed lower at $71.65 a barrel from $73.56 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 37,689 from 37,385 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,985 from 20,881 the previous week. The S&P/TSX Venture Composite Index closed lower at 552.90 from 557.12 a week ago.


Major Financing Openings:

  • Margaret Lake Diamonds Inc. (TSX-V:DIA) opened a $ 1.5 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months.
  • Umdoni Exploration Inc. (CSE:UDI) opened a $ 1.5 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 12 months.
  • Stakeholder Gold Corp. (TSX-V:SRC) opened a $ 1.4 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • EDM Resources Inc. (TSX-V:EDM) opened a $ 1.4 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months.

Major Financing Closings:

  • Atha Energy Corp. (CSE:SASK) closed a $ 23.49 million offering underwritten by a syndicate led by Eight Capital on a best-efforts basis. The deal is expected to close on or about December 28, 2023.
  • Global Atomic Corp. (TSX-V:GLO) closed a $ 15 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 12 months. The deal is expected to close on or about December 29, 2023.
  • GoviEx Uranium Inc. (CSE:GXU) closed a $ 13.8 million offering underwritten by a syndicate led by Eight Capital on a bought-deal basis. Each unit includes 1 warrant that expires in 36 months. The deal is expected to close on or about December 22, 2023.
  • Skeena Resources Limited (TSX-V:SKE) closed a $ 10.74 million offering on a best-efforts basis. The deal is expected to close on or about December 27, 2023.

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