Oreninc Index Update: June 27, 2013

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Oreninc Index Climbs for Second Week, Longest Streak Since April

The Oreninc Index climbed for the second straight week to a three-week high for the week ending June 27, 2013.  The two-week streak is tied with another from late April for the longest streak of 2013.  It is unlikely the streak will continue for another week, as next week is holiday-shortened due to Canada Day and U.S. market closures on the Fourth of July.

Summary:

  • Total deals announced fell to 41, a YTD high.
  • Five brokered deals were announced for $5.6 million dollars, a two-week low.
  • No bought deals were announced for the second time in three weeks.
  • Total dollars announced climbed to $64.4 million, a three-week high.
  • Average deal size fell to $1.7 million, a seven-week low.

Major Financing Openings:

  • Fortune Minerals Ltd. (TSX:FT) opened an $11.7 million offering on a strategic deal basis. The deal is expected to close on or about July 25, 2013.
  • Sahara Energy Ltd. (TSX-V:SAH) opened an $11.4 million offering on a strategic deal basis. The deal is expected to close on or about August 30, 2013.
  • Alphamin Resources Corp. (TSX-V:AFM) opened an $8 million offering on a strategic deal basis. Each unit includes 1 warrant that expires in 18 months.
  • Legend Gold Corp. (TSX-V:LGN) opened a $6 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 60 months.

Major Financing Closings:

  • Greenfields Petroleum (TSX-V:GNF) closed a $6.8 million offering on a best efforts basis.
  • Peregrine Diamonds Ltd. (TSX:PGD) closed a $3.5 million offering on a best efforts basis.
  • Americas Bullion Royalty Corp. (TSX:AMB) closed a $2.15 million offering on a best efforts basis.
  • Pacific Potash Corporation (TSX:PP) closed a $2.1 million offering on a best efforts basis. 

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