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Oreninc Index

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September 2015

Oreninc Index Update: September 24, 2015

Oreninc Index

Oreninc Index Falls to Three-Week Low

The Oreninc Index fell to a three-week low for the week ending September 24, 2015. Total dollars announced dropped to $26m, a three-week low. No brokered or bought deal financings were announced, 10 and three-week lows respectively.

Deal making was up a bit for the week, with the largest deal of note being Suncor Energy’s (TSX:SU) purchase of an additional 10% stake in the Fort Hills oil sands project from partner Total E&P Canada for $310m. Gold increased sharply for the week, up 5% since the US Federal Reserve's announcement last week that they would hold rates steady. Multiple industrial metals, including copper and zinc, had traumatic weeks, with zinc falling to a five-year low.

After last week’s stellar performance, it is disappointing to see the Index as low as it fell this week. The coming weeks will likely be telling in what we can expect over the coming months.

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September 2015

Oreninc Index Update: September 17, 2015

Oreninc Index

Oreninc Index Leaps to 13-Week High

The Oreninc Index jumped to a 13-week high for the week ending September 17, 2015. Total dollars announced exploded to $161.1m, an 18-week high. Two brokered and bought deal financings were announced for $85m, 18- and 23-week highs respectively.

The top dealmaking news of the week came from Glencore plc (LON:GLEN), who is said to be in talks with multiple companies to sell portions of the future production of three of its Chilean and Peruvian copper mines via streaming transactions. Gold was up on the week following news that the US Federal Reserve would not be raising interest rates quite yet. Iron ore was down slightly after the previous week’s 10-week high.

As expected, the first full week after the Labor Day holiday marks an increase to levels not seen since June. While expected, the jump in performance should be seen as a promising sign that maybe the financing market can crawl out of the depths reached over summer, even if it may not be at the levels the industry would like.

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September 2015

Oreninc Index Update: September 10, 2015

Oreninc Index

Oreninc Index Jumps to Three-Week High

The Oreninc Index jumped to a three-week high for the holiday-shortened week ending September 10, 2015. Total dollars announced rose $25.1m, a three-week high. One brokered financing was announced for $10.9m, another three-week high; and one bought deal financing was announced for $10.9m, yet another three-week high.

The biggest deal-making news of the week came from Anglo American plc (LON:AAL) and the sale of three of their platinum mines in South Africa to gold producer Sibanye Gold Ltd. (NYSE:SBGL) for $330m. Iron ore had another strong week, reaching a 10-week high. Positive US economic news led to another down week for gold, continuing its weeks long slide.

While this jump in performance is encouraging, it will be interesting to see if this trend continues as we head into what has traditionally been a more active period of the financing year.

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September 2015

Oreninc Index Update: September 3, 2015

Oreninc Index

Oreninc Index Rises Slightly

The Oreninc Index rose slightly for the week ending September 3, 2015. Total dollars jumped to $19.3m, a two-week high. One brokered financing was announced for $1m, also a two-week high; no bought deal financings were announced for the tenth time in the last 11 weeks.

The most notable deal making news of the week came from Vale (NYSE:VALE) as they completed a 36.4% stake sale of their iron ore based subsidiary Minerações Brasileiras Reunida for $1.08bn. Gold ended down for the week on the back of positive US job numbers. Iron ore had another surprisingly good week, up more than 20% from the record lows hit over the summer.

This week’s numbers, while an improvement, are still quite disappointing. Now that August is officially over, we will be able to get a better indication in the coming weeks of where the financing market stands and whether companies will be able to raise funds this fall.

 

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August 2015

Oreninc Index Update: August 27, 2015

Oreninc Index

 Oreninc Index Falls to Lowest Level of Summer The Oreninc Index fell to it’s lowest level of the summer for the week ending August 27, 2015. Total dollars fell sharply...

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