Oreninc Index Update: April 4, 2013

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Oreninc Index Up During Holiday-Shortened Week

The Oreninc Index continued its climb during the holiday-shortened week ending April 4, 2013.  There were few significant changes between last week and the one preceding it, and adjusted calculations for weeks with fewer trading days caused most of the gains. However, positive market changes did include one bought deal and a slight overall increase in total money announced.

Summary:

  • Deals announced were 23, up slightly from last week.
  • Two brokered deals were announced, a five-week low; brokered dollars announced climbed to $52.1 million.
  • One bought deal was announced for $45 million, a three-week high.
  • Total dollars announced climbed to $94 million, a three-week high.
  • Average deal size increased to $4.1 million, a three-week high.

Major Financing Openings:

  • MBAC Fertilizer Corp. (TSX:MBC) opened a $45.1 million offering underwritten by a syndicate led by Canaccord on a bought deal basis. The deal is expected to close on or about April 18, 2013.
  • Lachlan Star Limited (TSX:LSA) opened a $12.93 million offering on a best efforts basis.
  • Alexco Resource Corp. (TSX:AXR) opened a $7.03 million brokered offering on a best efforts basis. The deal is expected to close on or about April 23, 2013.
  • Kivalliq Energy Corporation (TSX-V:KIV) opened a $4.5 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.

Major Financing Closings:

  • WesternZagros Resources Ltd. (TSX-V:WZR) closed a $14.29 million offering underwritten by a syndicate led by RBC Capital Markets on a best efforts basis.
  • Corvus Gold Inc. (TSX:KOR) closed a $7.22 million offering on a best efforts basis.
  • Alphamin Resources Corp. (TSX-V:AFM) closed a $5.43 million offering on a best efforts basis.
  • Encanto Potash Corp. (TSX-V:EPO) closed a $2.7 million offering on a best efforts basis.

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