Oreninc Index Update: June 20, 2013

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Oreninc Index Five-Week Moving Average Climbs for First Time in Four Weeks

The Oreninc Index five-week moving average climbed for the first time since late May and for just the second time since April for the week ending June 20, 2013.  Even with the increase, the five-week moving average is still at the second lowest level YTD. In positive news, last week had the most bought deals announced since April; however, they were unusually small. The next two weeks may be even slower still due to Canada Day.

 

Summary:

  • Total deals remained flat at 24.
  • Five brokered deals were announced for $18.5 million dollars, a two-week high.
  • Three bought deals were announced for $7.5 million, a four-week high.
  • Total dollars announced fell further to $33.6 million, the lowest since January.
  • Average deal size fell to $1.4 million, the lowest since January

Major Financing Openings:

  • Infinity Minerals Corp. (TSX-V:IFN) opened a $10 million offering underwritten by a syndicate led by PI Financial on a best efforts basis. Each unit includes a 1/2 warrant that expires in 18 months. The deal is expected to close on or about July 19, 2013.
  • Kaminak Gold Corp. (TSX-V:KAM) opened a $4 million offering underwritten by a syndicate led by RBC Capital Markets on a bought deal basis. The deal is expected to close on or about July 9, 2013.
  • Madalena Ventures Inc. (TSX-V:MVN) opened a $5.75 million offering underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis. The deal is expected to close on or about July 11, 2013.
  • Petrolia Inc. (TSX-V:PEA) opened a $1 million offering underwritten by a syndicate led by Laurentian Bank Securities on a bought deal basis. Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about July 10, 2013.

Major Financing Closings:

  • Pine Cliff Energy Ltd. (TSX-V:PNE) closed a $25.08 million offering underwritten by a syndicate led by Paradigm Capital Inc. on a best efforts basis.
  • Crocotta Energy Inc. (TSX:CTA) closed a $21.98 million offering on a best efforts basis.
  • North American Nickel Inc. (TSX-V:NAN) closed a $7.05 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Prophecy Platinum Corp. (TSX-V:NKL) closed a $5.87 million offering on a best efforts basis. 

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