ORENINC INDEX hovering near all time low – January 15th, 2024

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ORENINC INDEX – Monday, January 15th, 2023

North America’s leading junior mining finance data provider

Last Week: 53.01

This week: 8.77

The Oreninc Index decreased in the trading week ending January 12th, 2024, to 8.77 from 53.01 and hovering near an all-time low reflecting sector sentiment.

On to the money: the aggregate financings announced decreased to $9.8 million, a 196-week high, with no new brokered financings and no bought-deal financings announced. The average offer size decreased to $1.2 million, a 2-week low, and the number of financings decreased to 8.

Gold closed the week higher at $2,061/oz from $2,049/oz a week ago. The US dollar index closed lower at 102.40 from 102.41 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $36.36 from $35.98 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 233.22 from 232.98 last week.

In other commodities, Silver closed the week lower at $23.21/oz from $23.31/oz a week ago. Copper closed lower at $3.74/lb from $3.80/lb a week ago. Oil went lower as WTI closed lower at $72.68 a barrel from $73.81 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 37,593 from 37,446 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,990 from 20,937 the previous week. The S&P/TSX Venture Composite Index closed higher at 556.18 from 551.34 a week ago.


Major Financing Openings:

  • Pulsar Helium Inc. (TSX-V:PLSR) opened a $4.26 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 24 months.
  • Omai Gold Mines Corp. (TSX-V:OMG) opened a $3 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 18 months. The deal is expected to close on or about January 24, 2024.
  • Blue Lagoon Resources Inc. (CSE: BLLG) opened a $1 million offering on a best-efforts basis.
  • Apex Resources Inc. (TSX-V:APX) opened a $0.8 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 24 months.

Major Financing Closings:

  • Intrepid Metals Corp. (TSX-V:INTR) closed a $2.48 million offering on a best-efforts basis.
  • Power Nickel Inc. (TSX-V:PNPN) closed a $2.18 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.
  • Cassiar Gold Corp. (TSX-V:GLDC) closed a $2 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 24 months. The deal is expected to close on or about December 12, 2023.
  • Kutcho Copper Corp. (TSX-V:KC) closed a $1.44 million offering on a best-efforts basis.

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