ORENINC INDEX up on new financings announced – July 25th, 2022

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ORENINC INDEX up on new financings announced

ORENINC INDEX – Monday, July 25th, 2022

North America’s leading junior mining finance data provider

Last Week: 8.87

This week: 45.73

The Oreninc Index increased in the trading week ending July 22th, 2022 to 45.73 from 8.87 a week ago as several larger financings were announced

On to the money: the aggregate financings announced increased to $154 million, a 15-week high, with 3 new brokered financings and no new bought-deal financings announced. The average offer size increased to $7 million, a 22-week high, and the number of financings increased to 22.

Gold closed the week at $1,727/oz from $1,703/oz a week ago. The US dollar index closed lower at 106.54 from 107.98 a week ago.

The widely followed junior mining index, the VanEck-managed GDXJ, closed the week down at $30.78 from $31.21 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 201.23 from 203.56 last week. The SPDR GLD ETF inventory closed the week lower at 1,005.29 tonnes, or 32.32 million ounces, from 1009.06 tonnes last week.

In other commodities, Silver closed the week lower at $18.51/oz from $18.63/oz a week ago. Copper closed higher at $3.32/lb from $3.24/lb a week ago. Oil went higher as WTI closed lower at $95.13 a barrel from $99.42 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 31,900 from 31,286 a week ago. Canada’s S&P/TSX Composite Index closed higher at 18,982 from 18,394 the previous week. The S&P/TSX Venture Composite Index closed lower at 607.97 from 584.43 a week ago.

Summary:

  • The number of financings increased to 22.
  • Three brokered financings were announced this week for $11m, a 3-week high.
  • No bought-deal financing was announced this week.
  • Total dollars increased to $154m, a 15-week high.
  • The average offer heightened to $7m, a 22-week high.

Major Financing Openings:

  • G Mining Ventures Corp. (TSX-V:GMIN) opened a $116.3 million offering on a best-efforts basis.
  • Aldebaran Resources Inc. (TSX-V:ALDE) opened a $10.3 million offering on a best-efforts basis. The deal is expected to close on or about August 9, 2022.
  • Talisker Resources Ltd. (CSE:TSK) opened a $6 million offering underwritten by a syndicate led by Sprott Capital Partners LP on a best efforts basis.  Each unit includes 1 warrant that expires in 30 months. The deal is expected to close on or about August 11, 2022.
  • Ranchero Gold Corp. (TSX-V:RNCH) opened a $5 million offering underwritten by a syndicate led by M Partners Inc. on a best-efforts basis. Each unit includes 1 warrant that expires in 36 months.

Major Financing Closings:

  • Erdene Resource Development Corp. (TSX:ERD) closed a $7.18 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 July 22, 2022.
  • Jasper Mining Corporation (TSX-V:JSP.H) closed a $4.67 million offering underwritten by a syndicate led by Stifel Nicolaus Canada Inc. (Stifel FirstEnergy) on a best efforts basis.
  • Minera Alamos Inc. (TSX-V:MAI) closed a $4.37 million offering on a best-efforts basis. The deal is expected to close on or about July 15, 2022.
  • Doubleview Gold Corp. (TSX-V:DBG) closed a $3.07 million offering on a best-efforts basis.

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