Top Ten’s of September 2017
September 2017 saw 82 deals close in the Canadian financial markets for an aggregate C$290.9 million at an average of $3.5 million, up 48.3% over August when 102 financings closed for $196.2 million at an average of $2.0 million.
September saw 59 gold deals close for $234.6 million at an average of $4.0 million, up 130% from the $102.0 million raised in 49 gold deals in August at an average of $1.6 million. The top ten gold deals in September represented 82.7% of the total at $193.9 million.
The top ten deals by size in September totalled $197.9 million, some 31.9% of the total compared to $113.1 million in August, some 57.6% of the total.
Gold companies took six of the top ten spots, with manganese, zinc, copper and other taking one spot each.
#1 McEwen Mining $57.3 million
McEwen Mining (TSX:MUX) closed a bought deal private placement including the exercise in full of the over-allotment of 22.0 million shares @ C$2.25 for C$50.2 million. The proceeds will be used to purchase the Black Fox Complex that is a producing underground gold mine in Timmins, Canada.
#2 Novo Resources $56.0 million
Novo Resources (TSXV:NVO) completed a non-brokered private placement with Kirkland Lake Gold as a new strategic investor. The financing was for 14.0 million units @ C$4.00. The net proceeds will be used for exploration and development.
#3 Barkerville Gold Mines $28.0 million
Barkerville Gold Mines (TSXV:BGM) completed a bought deal brokered private placement financing of 25.0 million flow-through shares @ $1.12 to fund the exploration and development of its Cariboo gold project in central British Columbia.