ORENINC INDEX down as markets plummet – September 18, 2023

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ORENINC INDEX – Monday, September 18, 2023

North America’s leading junior mining finance data provider

Last Week: 46.94

This week: 38.43

The Oreninc Index increased in the trading week ending September 15th, 2023, to 46.94 from 30.37 a week ago as metals markets plummeted.

On to the money: the aggregate financings announced increased to $58 million, a 4-week high, with three new brokered financings and four bought-deal financings announced. The average offer size increased to $2.23 million, a 3-week high, and the number of financings increased to 26.

Gold closed the week higher at $1,946/oz from $1,942/oz a week ago. The US dollar index closed higher at 105.32 from 105.09 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week higher at $35.79 from $34.04 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 229.22 from 218.96 last week.

In other commodities, Silver closed the week higher at $23.38/oz from $23.17/oz a week ago. Copper closed higher at $3.80/lb from $3.71/lb a week ago. Oil went higher as WTI closed higher at $90.77 a barrel from $87.51 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 34,618 from 34,577 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,622 from 20,074 the previous week. The S&P/TSX Venture Composite Index closed lower at 590.78 from 581.13 a week ago.


Major Financing Openings:

  • Lavras Gold Corp. (TSX-V:LGC) opened a $10.8 million offering on a best-efforts basis.
  • Azimut Exploration Inc. (TSX-V:AZM) opened an $8 million offering on a bought-deal basis. The deal is expected to close on or about September 28, 2023.
  • Liberty Gold Corp. (TSX:LGD) opened a $7.79 million offering on a best-efforts basis. The deal is expected to close on or about September 15, 2023.
  • Caravan Energy Corp. (CSE:CNRG) opened a $6 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.

Major Financing Closings:

  • F3 Uranium Corp. (TSX-V:FUU) closed a $20 million offering underwritten by a syndicate led by Red Cloud Securities Inc. on a bought-deal basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about September 12, 2023.
  • RTG Mining Inc. (TSX:RTG) closed a $11.6 million offering on a best-efforts basis.
  • Decade Resources Ltd. (TSX-V:DEC) closed a $2.97 million offering on a best-efforts basis. The deal is expected to close on or about August 28, 2023.
  • Element 29 Resources Inc. (TSX-V:ECU) closed a $2.86 million offering on a best-efforts basis.

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