Oreninc Index Update: December 19, 2013

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Oreninc Index Rises Sharply

The Oreninc Index exploded for the week ending December 19, 2013. The number of deals — 60 — was the most announced for a single week in 2013. Total dollars announced shot up to $213m; brokered dollars announced rose to $97.6m on seven deals, a five-week high. An optimistic aspect of this week is the multiple announcements over ten million dollars, as opposed to one deal carrying the entire week. Expect a slightly slower Christmas week as we move into the New Year.

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Summary:

  • Deals announced exploded to 60, a YTD high.
  • Seven brokered deals were announced for $97.6m, a five-week high.
  • Two bought deals were announced, a five-week high.
  • Total dollars announced rose to $213m, a five-week high.
  • Average deal size increased to $3.6m, a five-week high.

Major Financing Openings:

  • Alexander Energy Ltd. (TSX-V:ALX) opened a $75 million offering underwritten by a syndicate led by Peters & Co. Ltd. on a bought deal basis. The deal is expected to close on or about January 14, 2014.
  • Niko Resources Ltd. (TSX-V:NKO) opened a $33.23 million offering on a best efforts basis. The deal is expected to close on or about December 20, 2013.
  • Colossus Minerals Inc. (TSX:CSI) opened a $21 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 60 months. The deal is expected to close on or about January 15, 2014.
  • Terrace Energy Corp. (TSX-V:TZR) opened a $10 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a best efforts basis. The deal is expected to close in January 2014.

Major Financing Closings:

  • Largo Resources Ltd. (TSX-V:LGO) closed a $17 million offering on a best efforts basis.
  • Donnycreek Energy Inc. (TSX-V:DCK) closed a $8.04 million offering underwritten by a syndicate led by RBC Capital Markets on a best efforts basis.
  • IC Potash Corp. (TSX-V:ICP) closed a $5 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 18 months.
  • Silver Bear Resources Inc. (TSX:SBR) closed a $4.19 million offering on a best efforts basis.

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