Oreninc Index Update: May 1, 2014

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Oreninc Index Jumps to Seven-Week High

The Oreninc Index jumped to its highest level in seven weeks for the week ending May 1, 2014. This is the first significant jump the Index has made in any direction in six weeks. Total dollars raised exploded to $131.5m on 30 deals, a four-week high. Brokered and bought deals both jumped up, going to $102.2m and $37.2m, seven- and three-week highs respectively. While only one week, it’s good to see some movement in the financing markets heading into May. That being said, don’t hold your breath on any significant run of increased Index performance, especially as we approach the summer months.

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Summary:

  • Deals announced rose to 30, a four-week high.
  • Four brokered deals were announced for $102.2m, a seven-week high.
  • Three bought deals were announced for $37.2m, a three-week high.
  • Total dollars announced exploded to $131.5m, a seven-week high.
  • Average deal size jumped to $4.4m, an eight-week high.

Major Financing Openings:

  • Altius Minerals Corporation (TSX:ALS) opened a $65 million offering underwritten by a syndicate led by Scotia Capital Inc. on a best efforts basis. The deal is expected to close on or about May 12, 2014.
  • RB Energy Inc. (TSX:RBI) opened a $22.03 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 May 21, 2014.
  • Hemisphere Energy Corp. (TSX-V:HME) opened a $10 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a bought deal basis. The deal is expected to close on or about May 14, 2014.
  • Search Minerals Inc. (TSX-V:SMY) opened a $10 million offering  on a best efforts basis.    

Major Financing Closings:

  • Teranga Gold Corporation (TSX:TGZ) closed a $29.88 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal basis.    
  • Mason Graphite Inc. (TSX-V:LLG) closed an $11.5 million offering underwritten by a syndicate led by Macquarie Capital Markets Canada Ltd. on a bought deal basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Red Pine Exploration Inc. (TSX-V:RPX) closed a $3 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.
  • Marksmen Energy Inc. (TSX-V:MAH) closed a $1.3 million offering on a best efforts basis.

One thought on “Oreninc Index Update: May 1, 2014

  1. Hey Ben,
    Curious to know if a relationship exists between the financing windows in early march compared to activity September-November. If it exists, is it proportional – say over the last 3-5 years

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