Oreninc Index Update: May 30, 2013

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Oreninc Index Falls to Lowest Level since July 2012

Note: The Oreninc Index image below has changed since indexes before May 2013. The weekly state of the market is now the purple line and the 5-week moving average is the grey area.

The Oreninc index fell to a YTD low and its lowest level since last July for the week ending May 30, 2013.  Total dollars announced fell to a three-week low.  This week’s sharp drop was mostly due to just one brokered offering being announced, leading to the lowest brokered dollars announced since January.  In addition, the markets may have been particularly weak due to the holidays in the U.S. and U.K. Next week may see some increase purely because of no markets having closures, but don’t expect a stunning rebound.

Summary:

  • Total deals announced fell to 22, a 15-week low.
  • One brokered deals was announced for $2 million dollars, a 20-week low.
  • Zero bought deals were announced for the first time since April.
  • Total dollars announced decreased to $50 million, a three-week low
  • Average deal climbed slightly, to $2.3 million.

Major Financing Openings:

  • Sabina Gold & Silver Corp. (TSX:SBB) opened a $20.14 million offering  on a best efforts basis.    The deal is expected to close on or about June 10, 2013.
  • Anterra Energy (TSX-V:AE.A) opened a $7 million offering  on a best efforts basis.    
  • Unigold Inc. (TSX-V:UGD) opened a $5 million offering  on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 48 months.
  • UEX Corporation (TSX-V:UEX) opened a $3.18  million offering on a best efforts basis.   

Major Financing Closings:

  • Probe Mines Ltd. (TSX-V:PRB) closed a $15 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal basis.  Each unit includes a 1/2 warrant that expires in 24 months.
  • Denison Mines Corp. (TSX:DML) closed a $14.95 million offering underwritten by a syndicate led by Raymond James Ltd on a bought deal basis.
  • AXMIN Inc. (TSX-V:AXM) closed a $7 million offering  on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 24 months.
  • Nickel North Exploration Corp. (TSX-V:NNX) closed a $5 million offering  on a best efforts basis.

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