Top 10 Financings – Feb 2020

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Gold accounted for five of the top ten largest financing’s closed in Canadian capital markets in February, with oil & gas taking three spots and lithium and silver closing out the list. The top ten deals closed aggregated $214 million, a 191.2% increase from the $73.5 million closed in January, and representing 58.5% of the $336.1 million in deals closed, with 11 deals over $10 million. Gran Colombia Gold led the way with a $40 million financing followed by Africa Energy ($33.5 million) and Corridor Resources ($30 million).

Gran Colombia Gold lead the gold rankings with $40 million raised in February, followed by Eco Oro Minerals ($23.5 million) and Auryn Resources ($15 million). The top ten yellow metal financings aggregated $139.4 million, a whopping 375.8% increase over the $29.3 million closed in January, and accounting for 38% of the total closed, with five financings of more than $10 million.

While gold financings boomed, base metals deals withered away with the top financings closed raising just $8.4 million, a 78.7% drop from the $39.4 million raised in January, representing just 2.3% of the total. Arizona Metals was the largest financing at $2.4 million with only three financings for more than $1 million.

Battery battery metals showed more life with $16.6 million raised in February, 104.9% more than the $8.1 million raised in January, and 4.5% of the total. The biggest raise was $12.1 million by Standard Lithium.

February saw 87 deals close, which included 29 financings closed for less than $1 million, 33.3% of the total, while 12.6% were for more than $10 million.

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