The Oreninc Index climbed for the second week in a row for the week ending December 13, 2012. The week saw the most openings since September, however the average offer size was down significantly, reaching a seven-week low for brokered and non-brokered offerings alike. In addition, broker participation was at its lowest level since October. Winter is coming and companies are trying to raise what they can before the New Year, even if that requires undertaking offerings using the TSX-V’s extension of temporary relief measures.

The Oreninc Index saw an increase for the week ending December 6, 2012 following two straight weeks of decline. In addition, the five-week moving average fell slightly, continuing a seven-week downward trend that started after the fundraising peak in mid-October. Similar to last week, brokered offerings made up a significant portion of all money announced, however total offerings and brokered offerings reached eight and seven-week lows, respectively.

The Oreninc Index fell again for the week ending November 29, 2012. This follows four consecutive weeks of ups and downs. While this week had the fewest offerings since late October, there was significant broker participation (the highest since mid-October). One likely cause of the two-week slide was the American Thanksgiving. The next few weeks may see increased activity, followed by the holiday doldrums.

The Oreninc Index has once again changed directions and finished lower for the week ending November 22, 2012. This week was characterized by a large number of offerings under $1 million. During this time of the financing season, we tend to see offerings made out of desperation. Many junior companies need money now so that they can survive through the New Year while hoping that markets become stronger before exploration season begins in the spring.

The Oreninc Index made a major move upward for the week ending November 15, 2012; the fourth large shift in four weeks. The financing market continues to be highly volatile and remains soft for smaller companies, with a few large offerings making up the majority of the Index’s upside. On a positive note, unlike this summer which had very few offerings (regardless of a company’s stage of development), money is out there and quality offerings are being completed with over-allotments fully subscribed.