Oreninc Index Update: April 25, 2013

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Oreninc Index Falls for Third Straight Week

The markets continue to slump as the Oreninc Index fell for the fourth time in six weeks during the week ending April 25, 2013.  The five- and three-week moving averages both fell to their lowest levels since last August.  Total dollars announced was up from last week, but broker dollars announced fell significantly.  The markets are not rebounding, and banks continue to struggle finding investors for early-stage exploration.

 

Summary:

  • Total deals announced climbed to 27, a two-week high.
  • Four brokered deals were announced; brokered dollars announced fell to $8.2 million, an eight-week low.
  • One bought deal was announced for $2 million.
  • Total dollars announced increased to $67 million, a two-week high.
  • Average deal size decreased to $2.5 million, a five-week low.

Major Financing Openings:

  • Pretium Resources Inc. (TSX:PVG) announced a $40 million strategic investment.
  • Kootenay Silver Inc. (TSX-V:KTN) announced a $4.75 million private placement with Agnico-Eagle (TSX:AEM). Each unit includes a 1/2 warrant that expires in 24 months.
  • Arsenal Energy Inc. (TSX:AEI) opened a $2.03 million offering underwritten by a syndicate led by Casimir Capital Ltd. on a bought deal basis. The deal is expected to close on or about May 8, 2013.
  • Tinka Resources Limited (TSX-V:TK) opened a $2 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 18 months.

Major Financing Closings:

  • Alpha Minerals Inc. (TSX-V:AMW) closed a $12.28 million offering underwritten by a syndicate led by Salman Partners Inc. on a bought deal basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Alexco Resource Corp. (TSX:AXR) closed a $7.04 million offering on a best efforts basis.
  • NexGen Energy Ltd. (TSX-V:NXE) closed a $4.72 million offering underwritten by a syndicate led by Secutor Capital on a best efforts basis.
  • Tsodilo Resources Limited (TSX-V:TSD) closed a $2.5 million offering on a best efforts basis.

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