ORENINC INDEX slightly up in the first trading week of 2024 – January 8th, 2024

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ORENINC INDEX – Monday, January 8th, 2023

North America’s leading junior mining finance data provider

Last Week: 45.05

This week: 53.01

The Oreninc Index increased in the trading week ending January 5th, 2024, to 53.01 from 45.05 in the first trading week of 2024.

On to the money: the aggregate financings announced increased to $52.6 million, a 2-week high, with two new brokered financings and one bought-deal financing announced. The average offer size increased to $3.1 million, a 9-week high, and the number of financings decreased to 17.

Gold closed the week lower at $2,049/oz from $2,071/oz a week ago. The US dollar index closed higher at 102.41 from 101.33 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week lower at $35.98 from $37.91 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 232.98 from 243.31 last week.

In other commodities, Silver closed the week lower at $23.31/oz from $24.02/oz a week ago. Copper closed lower at $3.80/lb from $3.89/lb a week ago. Oil went higher as WTI closed higher at $73.81 a barrel from $71.65 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 37,446 from 37,689 a week ago. Canada’s S&P/TSX Composite Index closed lower at 20,937 from 20,985 the previous week. The S&P/TSX Venture Composite Index closed lower at 551.34 from 552.90 a week ago.


Major Financing Openings:

  • Canada Nickel Company Inc. (TSX-V:CNC) opened a $34.69 million offering underwritten on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months.
  • Nuclear Fuels Inc. (CSE:NF) opened a $5 million offering underwritten by a syndicate led by PI Financial Corp. 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 January 24, 2024.
  • Western Star Resources Inc. (CSE:WSR) opened a $5 million offering on a best-efforts basis.
  • Prospector Metals Corp. (TSX-V:PPP) opened a $1.5 million offering on a best-efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.

Major Financing Closings:

  • Canada Nickel Company Inc. (TSX-V:CNC) closed a $34.69 million offering underwritten on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months.
  • Abitibi Metals Corp. (CSE:AMQ) closed a $10 million offering on a best-efforts basis.
  • First Phosphate Corp. (CSE:PHOS) closed a $7.52 million offering on a best-efforts basis. The deal is expected to close on or about January 10, 2024.
  • Rock Tech Lithium Inc. (TSX-V:RCK) closed a $5.82 million offering on a best-efforts basis. The deal is expected to close on or about December 15, 2023.

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