ORENINC INDEX flat as average offer reached a 5-week low – November 27th, 2023

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ORENINC INDEX – Monday, November 27th, 2023

North America’s leading junior mining finance data provider

Last Week: 51.33

This week: 58.36

The Oreninc Index increased in the trading week ending November 24th, 2023, to 58.36 from 51.33 as the average offer reached a 5-week low.

On to the money: the aggregate financings announced increased to $104 million, a 3-week high, with one new brokered financing and one bought-deal financing announced. The average offer size decreased to $2.3 million, a 5-week low, and the number of financings increased to 45.

Gold closed the week higher at $2,013/oz from $1,990/oz a week ago. The US dollar index closed lower at 103.20 from 103.44 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $36.63 from $34.65 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 231.17 from 219.00 last week.

In other commodities, Silver closed the week higher at $25.03/oz from $23.95/oz a week ago. Copper closed lower at $3.78/lb from $3.83/lb a week ago. Oil went lower as WTI closed lower at $74.86 a barrel from $77.60 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 35,333 from 35,150 a week ago. Canada’s S&P/TSX Composite Index closed lower at 20,023 from 20,246 the previous week. The S&P/TSX Venture Composite Index closed lower at 529.58 from 532.46 a week ago.


Major Financing Openings:

  • McEwen Mining Inc. (TSX:MUX) opened a $22.02 million offering on a best-efforts basis. The deal is expected to close on or about December 14, 2023.
  • Adventus Mining Corp. (TSX-V:ADZN) opened an $18 million offering underwritten by a syndicate led by Raymond James Ltd. on a bought-deal basis.
  • Forum Energy Metals Corp. (TSX-V:FMC) opened a $9 million offering 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 December 12, 2023.
  • O3 Mining Inc. (TSX-V:OIII) opened a $9 million offering on a best-efforts basis.

Major Financing Closings:

  • Generation Mining Ltd. (CSE:GENM) closed a $15.1 million offering underwritten by a syndicate led by Haywood Securities Inc. on a bought-deal basis. Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about November 21, 2023.
  • Troilus Gold Corp. (TSX-V:TLG) closed a $15.01 million offering underwritten by a syndicate led by Haywood Securities Inc. on a bought-deal basis. The deal is expected to close on or about November 20, 2023.
  • Brixton Metals Corp. (TSX-V:BBB) closed a $14.58 million offering 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 November 20, 2023.
  • Li-FT Power Ltd. (CSE:LIFT) closed a $12.43 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a best-efforts basis. The deal is expected to close on or about November 17, 2023.

 

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