ORENINC INDEX – May 20th, 2024

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ORENINC INDEX – Monday, May 20th, 2024

North America’s leading junior mining finance data provider

Last Week: 55.75 (Updated)

This week: 44.90

Summary:

  • The number of financings decreased to 29.
  • Four brokered financings were announced this week for $17m, a 2-week low.
  • Two bought deal financings were announced this week for $9m, a 2-week low.
  • Total dollars decreased to $52m, a 7-week low.
  • The average offer lessened to $1.7m, a 7-week low.

Major Financing Openings:

  • F3 Uranium Corp. (TSX-V:FUU) opened a $9.06 million offering underwritten by a syndicate led by Cloud Securities Inc. on a bought-deal basis. The deal is expected to close on or about May 28, 2024.
  • Kobo Resources Inc. (TSX-V:KRI) opened a $7 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 May 30, 2024.
  • Oroco Resource Corp. (TSX-V:OCO) opened a $6 million offering underwritten by a syndicate led by Red Cloud Securities Inc. 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 June 6, 2024.
  • Ares Strategic Mining Inc. (TSX-V:ARS) opened a $4 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 June 14, 2024.

Major Financing Closings:

  • West Red Lake Gold Mines Inc. (CSE:WRLG) closed a $33 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.
  • Midnight Sun Mining Corp. (TSX-V:MMA) closed a $10 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months.
  • Black Mammoth Metals Corp. (TSX-V:BMM) closed a $2.8 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Western Alaska Minerals Corp. (TSX-V:WAM) closed a $2.61 million offering on a best-efforts basis. The deal is expected to close on or about May 8th, 2024.

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