ORENINC INDEX up as average offer increases – January 22nd, 2024

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ORENINC INDEX – Monday, January 22nd, 2024

North America’s leading junior mining finance data provider

Last Week: 8.77

This week: 48.39

The Oreninc Index increased in the trading week ending January 19th, 2024, to 48.39 from 8.77 as the average offer increases.

On to the money: the aggregate financings announced increased to $112 million, a 6-week high, with four new brokered financings and three bought-deal financings announced. The average offer size increased to $4.5 million, a 14-week high, and the number of financings increased to 25.

Gold closed the week lower at $2,038/oz from $2,061/oz a week ago. The US dollar index closed higher at 103.29 from 102.40 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week lower at $33.89 from $36.36 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 218.53 from 233.22 last week.

In other commodities, Silver closed the week lower at $22.60/oz from $23.31/oz a week ago. Copper closed higher at $3.76/lb from $3.74/lb a week ago. Oil went higher as WTI closed higher at $73.41 a barrel from $72.68 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 37,863 from 37,593 a week ago. Canada’s S&P/TSX Composite Index closed lower at 20,906 from 20,990 the previous week. The S&P/TSX Venture Composite Index closed lower at 552.33 from 556.18 a week ago.


Major Financing Openings:

  • Amex Exploration Inc. (TSX-V:AMX) opened a $26.66 million offering on a best-efforts basis. The deal is expected to close on or about February 2, 2024.
  • Canada Nickel Company Inc. (TSX-V:CNC) opened a $18.5 million offering on a best-efforts basis. The deal is expected to close on or about January 31, 2024.
  • IsoEnergy Ltd. (TSX-V:ISO) opened a $15 million offering underwritten by a syndicate led by Eight Capital on a bought deal The deal is expected to close on or about February 9th, 2024.
  • FPX Nickel Corp. (TSX-V:FPX) opened a $14.45 million offering on a best-efforts basis. The deal is expected to close on or about January 22, 2024.

Major Financing Closings:

  • Canasia Energy Corp. (TSX-V:CEC) closed a $6.3 million offering underwritten by a syndicate led by Research Capital Corp. on a best-efforts basis. The deal is expected to close on or about January 19, 2024.
  • Pulsar Helium Inc. (TSX-V:PLSR) closed a $4.26 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 24 months.
  • Chakana Copper Corp. (TSX-V:PERU) closed a $3 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 1, 2024.
  • Renegade Gold Inc. (TSX-V:RAGE) closed a $1.49 million offering on a best-efforts basis.

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