Oreninc Index Update: November 7, 2013

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Oreninc Index Rebounds 

The Oreninc Index rebounded to its highest level in 13 weeks for the week ending November 7, 2013. Total dollars announced jumped to $260.7m, $181.1m of that brokered on six deals.  Total deals also jumped up to 44, an 11-week high.  These numbers eclipse even the performance of two weeks ago, which was previously one of the better-performing weeks since last winter. It is encouraging to have two out of three good weeks; still, there will need to be a couple more like this before we can even get close to where we were last year.

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Summary:

  • Announced deals rose to 47, an 11-week high.
  • Six brokered deals were announced for $185.1m, a two-week high.
  • Three bought deals were announced for $176.5m, a two-week high.
  • Total dollars announced jumped to $260.7m, a 34-week high.
  • Average deal size to $5.5m, a two-week  high.

Major Financing Openings:

  • Kelt Exploration Ltd. (TSX:KEL) opened a $101.1 million offering underwritten by a syndicate led by Peters & Co. Ltd. on a bought deal basis. The deal is expected to close on or about December 3, 2013.
  • Surge Energy Inc. (TSX-V:SGY) opened a $55.02 million offering underwritten by a syndicate led by Macquarie Capital Markets on a bought deal basis. The deal is expected to close on or about November 28, 2013.
  • Trevali Mining Corp. (TSX-V:TV) opened a $40.01 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 November 28, 2013.
  • Romarco Minerals Inc. (TSX:R) opened a $25.09 million offering on a best efforts basis. The deal is expected to close on or about November 13, 2013.

Major Financing Closings:

  • Range Energy Resources Inc. (CNSX:RGO) closed a $6.1 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 60 months.
  • Kombat Copper Inc. (TSX-V:KBT) closed a $2.93 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 36 months.
  • Blackbird Energy (TSX-V:BBI) closed a $3.09 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 60 months. The deal was expected to close on or about November 7, 2013.
  • EnerGulf Resources Inc. (TSX-V:ENG) closed a $2.34 million offering on a best efforts basis.

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