ORENINC INDEX – May 13th, 2024

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ORENINC INDEX – Monday, May 13th, 2024

North America’s leading junior mining finance data provider

Last Week: 79.29 (Updated)

This week: 54.83

Summary:

  • The number of financings lessened to 31.
  • Four brokered financings were announced this week for $37m, a 3-week high.
  • Four bought deal financings were announced this week for $37m, a 4-week high.
  • Total dollars decreased to $92m, a 2-week low.
  • The average offer increased to $2.9m, a 4-week high.

Major Financing Openings:

  • West Red Lake Gold Mines Inc. (CSE:WRLG) opened a $30 million offering underwritten by a syndicate led by Raymond James Ltd. (RJL) on a bought-deal basis. The deal is expected to close on or about May 15, 2024.
  • International Battery Metals Ltd. (CSE:IBAT) opened an $18.54 million offering on a best-efforts basis.
  • JKS Resources Inc. (CSE:JKS) opened a $7.99 million offering on a best-efforts basis.
  • Northern Superior Resources Inc. (TSX-V:SUP) opened a $7 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought-deal basis. The deal is expected to close on or about May 28, 2024.

Major Financing Closings:

  • JKS Resources Inc. (CSE:JKS) closed a $15.2 million offering on a best efforts basis.
  • International Battery Metals Ltd. (CSE:IBAT) closed a $14.29 million offering underwritten by a syndicate led by Stifel Canada on a best efforts basis. Each unit includes 1 warrant that expires in 24 months. The deal is expected to close on or about May 2nd, 2024.
  • Awale Resources Ltd. (TSX-V:ARIC) closed a $11.5 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a bought deal basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about May 8, 2024.
  • Guanajuato Silver Company Ltd. (TSX-V:GSVR) closed a $11.35 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 May 6, 2024.

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