ORENINC INDEX flat as tax loss season continues – November 6th, 2023

Views

31

Share

ORENINC INDEX – Monday, November 6th, 2023

North America’s leading junior mining finance data provider

Last Week: 72.33

This week: 76.89

The Oreninc Index increased in the trading week ending November 3rd, 2023, to 76.89 from 72.33 as flat as tax loss season continues.

On to the money: the aggregate financings announced increased to $170 million, a 16-week high, with seven new brokered financings and six bought-deal financings announced. The average offer size increased to $4.5 million, a 3-week high, and the number of financings increased to 38.

Gold closed the week higher at $1,999/oz from $1,989/oz a week ago. The US dollar index closed lower at 105.02 from 106.56 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $35.48 from $34.43 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 227.47 from 225.87 last week.

In other commodities, Silver closed the week higher at $23.28/oz from $22.77/oz a week ago. Copper closed higher at $3.68/lb from $3.64/lb a week ago. Oil went lower as WTI closed lower at $80.51 a barrel from $85.54 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 34,061 from 32,418 a week ago. Canada’s S&P/TSX Composite Index closed higher at 19,824 from 18,737 the previous week. The S&P/TSX Venture Composite Index closed higher at 525.25 from 520.74 a week ago.


Major Financing Openings:

  • New Found Gold Corp. (TSX-V:NFG) opened a $56.01 million offering underwritten by a syndicate led by BMO Capital Markets on a bought-deal basis. The deal is expected to close on or about November 6th, 2023.
  • SRG Mining Inc. (TSX-V:SRG) opened a $16.93 million offering on a best-efforts basis.
  • Generation Mining Ltd. (CSE:GENM) opened a $15.1 million offering underwritten by a syndicate led by Haywood Securities Inc. on a bought-deal basis. Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about November 21, 2023.
  • Troilus Gold Corp. (TSX-V:TLG) opened a $15.01 million offering underwritten by a syndicate led by Haywood Securities Inc. on a bought-deal basis. The deal is expected to close on or about November 20, 2023.

Major Financing Closings:

  • Dolly Varden Silver Corp. (TSX-V:DV) closed a $10 million offering on a best-efforts basis. The deal is expected to close on or about November 1st, 2023.
  • EMP Metals Corp. (CSE:EMPS) closed a $9.76 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Pan Global Resources Inc. (TSX-V:PGZ) closed a $6 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months. The deal is expected to close on or about October 31, 2023.
  • Commerce Resources Corp. (TSX-V:CCE) closed a $5.45 million offering on a best-efforts basis.

Close

Newsletter Sign up






    Close

    Become in our Sponsor

      We will contact you to present our sponsor plans and pricing