Oreninc Index Update: November 29, 2012

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Oreninc Index Falls for Second Straight Week

The Oreninc Index fell again for the week ending November 29, 2012. This follows four consecutive weeks of ups and downs. While this week had the fewest offerings since late October, there was significant broker participation (the highest since mid-October). One likely cause of the two-week slide was the American Thanksgiving. The next few weeks may see increased activity, followed by the holiday doldrums.

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Summary:
  • Total number of opened deals fell to 37, a five-week low.
  • Nine brokered deals were announced, a three-week low; brokered dollars announced fell to $76 million.
  • One bought deal was announced, a four-week low.
  • Total dollars announced dropped to $103 million.
  • Average deal size dropped to $2.8 million.
Major Financing Openings:
  • Raging River Exploration Inc. (TSX-V:RRX) opened a $55.7 million offering underwritten by a syndicate led by Peters & Co. on a bought deal basis. The deal is expected to close on or about December 18, 2012.
  • NWM Mining Corp. (TSX-V:NWM) opened a $8 million offering underwritten by a syndicate led by Sunel Securities on a best efforts basis. Each unit includes 1 warrant that expires in 48 months. The deal is expected to close on or about December 21, 2012.
  • Groundstar Resources Ltd. (TSX-V:GSA) opened a $4 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 December 19, 2012.
  • Commerce Resources Corp. (TSX-V:CCE) opened a $3.2 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 18 months.
Major Financing Closings:
  • Elemental Minerals Ltd. (TSX:ELM) closed a $14.61 million offering underwritten by a syndicate led by BMO Capital Markets on a best efforts basis.
  • Northern Vertex Mining Corp. (TSX-V:NEE) closed a $9.15 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Maya Gold & Silver Inc. (TSX-V:MYA) closed a $7.7 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
  • Toscana Energy Income Corporation (TSX-V:TEI) closed a $6 million offering on a best efforts basis.

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