Top 10 Financings in April 2017




 ORENINC PRESENTS THE TOP 10 FINANCINGS IN APRIL 2017 (below a market cap of 1.5bn CAD)

April saw 121 financings close in the Canadian financial markets for C$522.7 million including 55 financings for gold totalling $207.3 million, some 40% of the April total. The top ten gold financings totalled $167.5 million representing 81% of the total indicating that bulk of funds raised for gold projects are concentrated in a relatively small number of deals.



#1 Bluestone Resources C80 million

Bluestone Resources (TSXV: BSR) closed an $80 million financing @ $1.50 per subscription receipt led by Cormark Securities to finance the acquisition of the Cerro Blanco project and the Mita geothermal project in Guatemala from Goldcorp (TSX: G). Cerro Blanco is fully permitted for production and hosts very high gold grades with strong potential to expand historical resources of 2.05 Mt @ 12.69 g/t for 840koz Au in the Indicated category, as well as 0.75 Mt @ 9.34 g/t for 230koz Au in the Inferred category. The Goldcorp deal includes a right of first refusal on the assets, including the mining fleet, processing plant, and other equipment related to Goldcorp’s Marlin gold mine in Guatemala once mining and processing activities cease.

#2 Seabridge Gold C22 million

Seabridge Gold (TSX: SEA) closed a bought deal flow-through financing, including a full over-allotment, for $22 million @ $20 per flow-through share via syndicate of underwriters led by Canaccord Genuity and Cantor Fitzgerald to fund the 2017 exploration program at the KSM and Iskut projects in Northwestern British Columbia, Canada. KSM has an updated pre-feasibility study with proven and probable reserves of 38.8Moz Au and 10.2Blb Cu, placing Seabridge within the world’s top ten gold companies by reserves. Seabridge continues to de-risk KSM as it will eventually seek a joint venture partner to develop it.

#3 Coro Mining C$16.152

Coro Mining (TSX: COP) closed a non-brokered private placement for $16.152 million @ $0.15 per share, to fund the acquisition of Minera Rayrock from Peru’s Milpo to obtain the 12,000 tpy Ivan SXEW copper cathode plant that is close to its Marimaca project in Chile, and continued exploration of Marimaca where Coro is looking to double the copper resource this year as it eyes producer status by 2019. Marimaca currently has a resource of 21.5Mt @ 0.68% Cu in the measured and indicated categories, and 18.8Mt @ 0.53% Cu in inferred resources.




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