ORENINC INDEX up sharply as average offer reaches 30-week high – October 16th, 2023

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ORENINC INDEX – Monday, October 16th, 2023

North America’s leading junior mining finance data provider

Last Week: 24.91

This week: 75.45

The Oreninc Index increased in the trading week ending October 13th, 2023, to 75.45 from 24.91 a week ago the average offer reaches a 30-week high.

On to the money: the aggregate financings announced increased to $146 million, a 13-week high, with two new brokered financings and two bought-deal financings announced. The average offer size increased to $7.3 million, a 30-week high, and the number of financings decreased to 20.

Gold closed the week higher at $1,941/oz from $1,864/oz a week ago. The US dollar index closed higher at 106.65 from 106.15 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $33.89 from $33.83 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 223.56 from 207.24 last week.

In other commodities, Silver closed the week higher at $22.89/oz from $22.39/oz a week ago. Copper closed lower at $3.57/lb from $3.73/lb a week ago. Oil went lower as WTI closed lower at $87.69 a barrel from $90.81 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 33,670 from 33,507 a week ago. Canada’s S&P/TSX Composite Index closed lower at 19,462 from 19,541 the previous week. The S&P/TSX Venture Composite Index closed lower at 529.13 from 558.88 a week ago.


Major Financing Openings:

  • Denison Mines Corp. (TSX:DML) opened a $75.11 million offering underwritten by a syndicate led by Cantor Fitzgerald Canada Corp. on a bought-deal basis. The deal is expected to close on or about October 16, 2023.
  • Uranium Royalty Corp. (TSX:URC) opened a $40.82 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 October 17, 2023.
  • Mayfair Gold Corp. (TSX-V:MFG) opened an $11 million offering on a best-efforts basis. The deal is expected to close on or about November 2nd, 2023.
  • Silver Mountain Mines Inc. (TSX-V:SMM) opened a $4.2 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.

Major Financing Closings:

  • Thesis Gold Inc. (TSX-V:TAU) closed an $11.16 million offering underwritten by a syndicate led by Clarus Securities Inc. on a best-efforts basis. The deal is expected to close on or about September 26, 2023.
  • Goliath Resources Ltd. (TSX-V:GOT) closed an $8.6 million offering on a best-efforts basis. Each unit includes 1 warrant that expires in 18 months. The deal is expected to close on or about October 11, 2023.
  • Caravan Energy Corp. (CSE:CNRG) closed a $6.05 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Electric Metals (USA) Ltd. (TSX-V:EML) closed a $5.87 million offering on a best-efforts basis. The deal is expected to close on or about September 30, 2023.

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