Oreninc Index Update: October 10, 2013

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Oreninc Index Rises Marginally

The Oreninc Index rose marginally for the week ending October 10, 2013. Bought dollars announced rose to its highest level since January to $99.6m and total dollars announced rose to $151.5m, matching the total from two weeks ago. Both of these numbers are largely due to the Twin Butte Energy deal and while they are promising, the Index continued to hardly move due to the bottom end of the financing market still dragging.

Summary:

  • Total deals fell to 26, a one-week low.
  • Three brokered deals were announced for $99.6m, a nine-week high.
  • Three bought deals were announced for $99.6m, a 36-week high.
  • Dollars announced rose to $151.5m, a two-week high.
  • Average deal size rose to $5.05m, a three-week high.

Major Financing Openings:

  • Twin Butte Energy Ltd. (TSX:TBE) opened a $70.01 million offering underwritten by a syndicate led by Peters & Co. on a bought deal basis. The deal is expected to close on or about October 31, 2013.
  • NuVista Energy Ltd. (TSX:NVA) opened a $37.12 million offering underwritten by a syndicate led by Peters & Co. on a bought deal basis. The deal is expected to close on or about October 29, 2013.
  • Tembo Gold Corp (TSX-V:TEM) opened a $6.66 million offering on a strategic deal basis.
  • Silver Bear Resources Inc. (TSX:SBR) opened a $4.25 million offering on a bought deal basis. Each unit includes 1 warrant that expires in 24 months. The deal is expected to close on or about December 31, 2013.

Major Financing Closings:

  • Strategic Oil & Gas Ltd. (TSX-V:SOG) closed a $30.82 million offering underwritten by a syndicate led by Raymond James Ltd. on a bought deal basis. The deal was expected to close on or about October 7, 2013.
  • Aureus Mining Inc. (TSX:AUE) closed a $16.41 million offering underwritten by a syndicate led by GMP Securities L.P. on a best efforts basis. The deal was expected to close on or about October 10, 2013.
  • Minera IRL Limited (TSX:IRL) closed a $3.12 million offering on a strategic deal basis. The deal was expected to close on or about October 11, 2013.
  • Shoal Point Energy Ltd. (CNSX:SHP) closed a $2.71 million offering on a best efforts basis.

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