ORENINC INDEX up as $150m being raised – October 30th, 2023

Views

24

Share

ORENINC INDEX – Monday, October 30th, 2023

North America’s leading junior mining finance data provider

Last Week: 42.42

This week: 72.33

The Oreninc Index increased in the trading week ending October 27th, 2023, to 72.33 from 42.42 as total money raised to $150m.

On to the money: the aggregate financings announced increased to $150 million, a 15-week high, with one new brokered financing and one bought-deal financing announced. The average offer size increased to $4.2 million, a 2-week high, and the number of financings increased to 36.

Gold closed the week lower at $1,989/oz from $1,994/oz a week ago. The US dollar index closed higher at 106.56 from 106.16 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week lower at $34.43 from $34.71 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 225.87 from 228.65 last week.

In other commodities, Silver closed the week lower at $22.77/oz from $23.50/oz a week ago. Copper closed higher at $3.64/lb from $3.56/lb a week ago. Oil went lower as WTI closed lower at $85.54 a barrel from $88.75 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 32,418 from 33,127 a week ago. Canada’s S&P/TSX Composite Index closed lower at 18,737 from 19,115 the previous week. The S&P/TSX Venture Composite Index closed lower at 520.51 from 520.74 a week ago.


Major Financing Openings:

  • Atacama Copper Corp. (TSX-V:ACOP) opened a $10 million offering on a best-efforts basis.
  • Rock Tech Lithium Inc. (TSX-V:RCK) opened a $10 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 7, 2023.
  • EMP Metals Corp. (CSE:EMPS) opened a $9.76 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Wallbridge Mining Company Ltd. (TSX:WM) opened a $44 million offering on a best-efforts basis. The deal is expected to close on or about November 2nd, 2023.

Major Financing Closings:

  • Wallbridge Mining Company Ltd. (TSX:WM) closed a $44 million offering on a best-efforts basis. The deal is expected to close on or about November 2nd, 2023.
  • LithiumBank Resources Corp. (TSX-V:LBNK) closed a $51 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Sanu Gold Corp. (CSE:SANU) closed a $45 million offering on a best-efforts basis.
  • Highlander Silver Corp. (CSE:HSLV) closed a $3 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