ORENINC INDEX flat as average offer reached a 6-week low – December 4th, 2023

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ORENINC INDEX – Monday, December 4th, 2023

North America’s leading junior mining finance data provider

Last Week: 58.36

This week: 52.54

The Oreninc Index decreased in the trading week ending December 1st, 2023, to 52.54 from 58.36 as the average offer reached a 6-week low.

On to the money: the aggregate financings announced decreased to $79 million, a 6-week low, with two new brokered financings and no bought-deal financings announced. The average offer size decreased to $2 million, a 6-week low, and the number of financings decreased to 38.

Gold closed the week higher at $2,089/oz from $2,013/oz a week ago. The US dollar index closed higher at 103.27 from 103.20 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $39.44 from $36.63 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 245.20 from 231.17 last week.

In other commodities, Silver closed the week higher at $25.85/oz from $25.03/oz a week ago. Copper closed higher at $3.93/lb from $3.78/lb a week ago. Oil went lower as WTI closed lower at $74.07 a barrel from $74.86 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 36,254 from 35,333 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,524 from 20,023 the previous week. The S&P/TSX Venture Composite Index closed higher at 546.02 from 529.58 a week ago.


Major Financing Openings:

  • Nighthawk Gold Corp. (TSX-V:NHK) opened a $12.5 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months. The deal is expected to close on or about December 19, 2023.
  • Foran Mining Corp. (TSX-V:FOM) opened a $10 million offering underwritten by a syndicate led by BMO Capital Markets on a best-efforts basis. The deal is expected to close on or about December 12, 2023.
  • Grid Metals Corp. (TSX-V:GRDM) opened a $5.4 million offering on a best-efforts basis. The deal is expected to close on or about December 21, 2023.
  • White Gold Corp. (TSX-V:WGO) opened a $5.12 million offering on a best-efforts basis. The deal is expected to close on or about December 8, 2023.

Major Financing Closings:

  • West Red Lake Gold Mines Inc. (CSE:WRLG) closed a $15.08 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months. The deal is expected to close on or about November 28, 2023.
  • Latitude Uranium Inc. (CSE:LUR) closed a $6 million offering underwritten by a syndicate led by Red Cloud Securities Inc. on a bought deal Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about November 28, 2023.
  • Founders Metals Inc. (TSX-V:FDR) closed a $5.75 million offering underwritten by a syndicate led by BMO Capital Markets on a bought-deal basis. The deal is expected to close on or about November 28, 2023.
  • Arbor Metals Corp. (TSX-V:ABR) closed a $4.7 million offering on a best-efforts basis.

 

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