Oreninc Index Update: July 17, 2014

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Oreninc Index Stays Positive 

The Oreninc Index remained positive for the week ending July 17, 2014. Total dollars announced on the week rose to $175.3m, a three-week high. Four brokered deals were announced for $80.3m, a three-week high. No bought deals were announced for the first time in four weeks. 

Despite the metal falling to almost a four-week low on Tuesday, a number of gold deals occurred this week, with Barrick’s deal to Joint Venture with Saudi Arabia Mining on their Jabal Sayid copper mine near Medina, Saudi Arabia leading the way.

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Summary:

  • Deals announced jumped to 34, a two-week high.
  • Four brokered deals were announced for $80.3m, a three-week high.
  • No bought deals were announced, four-week low.
  • Total dollars rose to $175.3m, a three-week high.
  • Average deal size increased to $5.2m, a five-week high.

Major Financing Openings:

  • Oryx Petroleum Corporation Limited (TSX:OXC) opened a $64.13 million offering underwritten by a syndicate led by BMO Capital Markets on a best efforts basis. The deal is expected to close on or about July 18, 2014.
  • Sterling Resources Ltd. (TSX-V:SLG) opened a $34.5 million offering on a best efforts basis. The deal is expected to close on or about July 24, 2014.
  • Probe Mines Ltd. (TSX-V:PRB) opened a $26.04 million offering on a best efforts basis. The deal is expected to close on or about August 6, 2014.
  • Uranerz Energy Corporation (TSX:URZ) opened a $10.7 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis. Each unit includes a 1/2 warrant that expires in 30 months. The deal is expected to close on or about July 25, 2014.

Major Financing Closings:

  • MAG Silver Corp. (TSX:MAG) closed a $79.05 million offering underwritten by a syndicate led by BMO Capital Markets on a bought deal basis.   
  • St. Augustine Gold and Copper Limited (TSX:SAU) closed a $15.52 million offering on a strategic deal basis.    
  • Kaminak Gold Corp. (TSX-V:KAM) closed a $13.52 million offering on a strategic deal basis. Each unit includes a 1/2 warrant that expires in 12 months.
  • Avnel Gold Mining Ltd. (TSX:AVK) closed a $9.87 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis.

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