Oreninc Index Update: January 28, 2016

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The Oreninc Index stayed low for the week ending January 28, 2016. Total dollars dropped to $21.2m, a two-week low. One brokered and bought deal financing was announced for $8.4m, three and two-week lows respectively.

Aston Bay Holdings Ltd. (TSX-V:BAY) led the way with deal making news, signing an LOI with BHP Billiton Ltd. (NYSE:BHP). Gold had an excellent week, hitting a 12-week high.

Not much movement is not much of a surprise at this point in this market. Entering what is generally considered one of the stronger times in the year for fundraising, the trend of continuously poor numbers make one think that maybe we may truly have hit a “market bottom”.  

 

 

Summary:

  • Number of financings increased to 14, a four-week high.
  • One brokered financing was announced for $8.4m, a three-week low.
  • One bought deal financing was announced for $8.4m, a two-week low.
  • Total dollars dropped to $21.2m, a two-week low.
  • Average offer size fell to $1.5m, a four-week low.

Major Financing Openings:

  • Ur-Energy Inc. (TSX:URE) opened a $8.43 million offering underwritten by a syndicate led by Cantor Fitzgerald Canada Corp. on a bought deal basis. The deal is expected to close on or about February 17, 2016.
  • NGEx Resources Inc. (TSX:NGQ) opened a $8 million offering on a best efforts basis.    
  • Manitok Energy Inc. (TSX-V:MEI) opened a $1.55 million offering on a best efforts basis. BCGold Corp. (TSX-V:BCG) opened a $0.6 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.

Major Financing Closings:

  • Fission Uranium Corp. (TSX-V:FCU) closed a $82.23 million offering on a strategic deal basis.    
  • Peregrine Diamonds Ltd. (TSX:PGD) closed a $5.64 million offering on a best efforts basis.    
  • UEX Corporation (TSX-V:UEX) closed a $2 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.
  • CB Gold Inc. (TSX-V:CBJ) closed a $1.64 million offering on a best efforts basis.

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