ORENINC INDEX down as no new financings announced- October 23rd, 2023

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ORENINC INDEX – Monday, October 23rd, 2023

North America’s leading junior mining finance data provider

Last Week: 75.45

This week: 42.42

The Oreninc Index decreased in the trading week ending October 20th, 2023, to 42.42 from 75.45 a week ago.

On to the money: the aggregate financings announced decreased to $70 million, a 2-week low, with no new brokered financing and no bought-deal financing announced. The average offer size decreased to $2 million, a 2-week low, and the number of financings increased to 35.

Gold closed the week higher at $1,994/oz from $1,941/oz a week ago. The US dollar index closed lower at 106.16 from 106.65 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $34.71 from $33.89 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 228.65 from 223.56 last week.

In other commodities, Silver closed the week higher at $23.50/oz from $22.89/oz a week ago. Copper closed lower at $3.56/lb from $3.57/lb a week ago. Oil went higher as WTI closed higher at $88.75 a barrel from $87.69 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 33,127 from 33,670 a week ago. Canada’s S&P/TSX Composite Index closed lower at 19,115 from 19,462 the previous week. The S&P/TSX Venture Composite Index closed lower at 520.74 from 529.13 a week ago.


Major Financing Openings:

  • Talon Metals Corp. (TSX:TLO) opened a $ 21.69 million offering on a best-efforts basis.
  • Sierra Metals Inc. (TSX:SMT) opened a $ 16.38 million offering on a best-efforts basis.
  • Talisker Resources Ltd. (CSE:TSK) opened a $ 3.5 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Core Assets Corp. (CSE:CC) opened a $ 3 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 November 15, 2023.

Major Financing Closings:

  • Uranium Royalty Corp. (TSX:URC) closed a $ 41.16 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.
  • IsoEnergy Ltd. (TSX-V:ISO) closed a $ 36.61 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a best efforts basis. The deal is expected to close on or about October 19, 2023.
  • Talon Metals Corp. (TSX:TLO) closed a $ 21.69 million offering on a best-efforts basis.
  • Sierra Metals Inc. (TSX:SMT) closed a $ 16.38 million offering on a best-efforts basis.

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