Top 10’s of Third Quarter 2017
The third quarter to September 30th saw 282 deals close in the Canadian financial markets for an aggregate C$958.7 million at an average of $3.4 million, down 29.9% from the second quarter to June 30th that saw $1.37 billion raised.
The third quarter saw 120 gold deals close for $502.1 million at an average of $4.2 million, down 17.1% from the $605.7 million raised in the second quarter in 193 deals, at an average of $3.1 million.
The top ten deals by size in the third quarter of 2017 totalled C$427.4, down 23.5% from the $558.7 million that the top ten accounted for in the second quarter.
Gold deal took seven of the top ten spots in the third quarter, with the biggest deal being for uranium at $65.2 million, with lithium and silver oil taking one spot each. The three top base metals deals were for zinc $28.7 million, tin $13.1 million and tin $12.8 million.
#1 NexGen Energy $65.2 million
NexGen Energy (TSX:NXE) raised $65.2 million in equity with CEF Holdings as part of a financing package totalling US$110 million that also included US$60 million in unsecured convertible debentures. The private placement saw the issuance of 24.1 million shares @ C$2.70. Proceeds from the financing are to fund the continuing exploration and development of the SW2 properties in Canada’s Athabasca Basin.
#2 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.
#3 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.