ORENINC INDEX flat as average offer reached a 4-week low – November 20th, 2023

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ORENINC INDEX – Monday, November 20th, 2023

North America’s leading junior mining finance data provider

Last Week: 53.68 (updated)

This week: 51.33

The Oreninc Index decreased in the trading week ending November 17th, 2023, to 51.33 from 53.68 as the average offer reached a 4-week low.

On to the money: the aggregate financings announced increased to $94 million, a 2-week high, with three new brokered financings and three bought-deal financings announced. The average offer size decreased to $2.5 million, a 4-week low, and the number of financings increased to 37.

Gold closed the week higher at $1,990/oz from $1,937/oz a week ago. The US dollar index closed lower at 103.44 from 105.86 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $34.65 from $32.86 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 219.00 from 209.75 last week.

In other commodities, Silver closed the week higher at $23.95/oz from $22.28/oz a week ago. Copper closed higher at $3.83/lb from $3.58/lb a week ago. Oil went higher as WTI closed higher at $77.60 a barrel from $77.17 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 35,150 from 34,283 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,246 from 19,654 the previous week. The S&P/TSX Venture Composite Index closed higher at 532.46 from 510.28 a week ago.


ajor Financing Openings:

  • Marathon Gold Corp. (TSX:MOZ) opened a $40 million offering on a best-efforts basis. The deal is expected to close on or about November 14, 2023.
  • Mawson Gold Ltd. (TSX:MAW) opened a $14.75 million offering on a best-efforts basis.
  • Red Pine Exploration Inc. (TSX-V:RPX) opened a $5 million offering underwritten by a syndicate led by Haywood Securities Inc. on a best-efforts basis. The deal is expected to close on or about December 7th, 2023.
  • Alpha Exploration Ltd. (TSX-V:ALEX) opened a $5 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 November 28, 2023.

Major Financing Closings:

  • Marathon Gold Corp. (TSX:MOZ) closed a $40 million offering on a best-efforts basis.  The deal is expected to close on or about November 14, 2023.
  • C3 Metals Inc. (TSX-V:CCCM) closed a $8.05 million offering on a best-efforts basis. The deal is expected to close on or about November 15, 2023.
  • Arbor Metals Corp. (TSX-V:ABR) closed a $3.2 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • TDG Gold Corp. (TSX-V:TDG) closed a $2.82 million offering on a best-efforts basis.

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