Oreninc Index Update: December 19, 2013
Oreninc Index Rises Sharply
The Oreninc Index exploded for the week ending December 19, 2013. The number of deals -- 60 -- was the most announced for a single week in 2013. Total dollars announced shot up to $213m; brokered dollars announced rose to $97.6m on seven deals, a five-week high. An optimistic aspect of this week is the multiple announcements over ten million dollars, as opposed to one deal carrying the entire week. Expect a slightly slower Christmas week as we move into the New Year.
Summary:
- Deals announced exploded to 60, a YTD high.
- Seven brokered deals were announced for $97.6m, a five-week high.
- Two bought deals were announced, a five-week high.
- Total dollars announced rose to $213m, a five-week high.
- Average deal size increased to $3.6m, a five-week high.
Major Financing Openings:
- Alexander Energy Ltd. (TSX-V:ALX) opened a $75 million offering underwritten by a syndicate led by Peters & Co. Ltd. on a bought deal basis. The deal is expected to close on or about January 14, 2014.
- Niko Resources Ltd. (TSX-V:NKO) opened a $33.23 million offering on a best efforts basis. The deal is expected to close on or about December 20, 2013.
- Colossus Minerals Inc. (TSX:CSI) opened a $21 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 60 months. The deal is expected to close on or about January 15, 2014.
- Terrace Energy Corp. (TSX-V:TZR) opened a $10 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a best efforts basis. The deal is expected to close in January 2014.
Major Financing Closings:
- Largo Resources Ltd. (TSX-V:LGO) closed a $17 million offering on a best efforts basis.
- Donnycreek Energy Inc. (TSX-V:DCK) closed a $8.04 million offering underwritten by a syndicate led by RBC Capital Markets on a best efforts basis.
- IC Potash Corp. (TSX-V:ICP) closed a $5 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 18 months.
- Silver Bear Resources Inc. (TSX:SBR) closed a $4.19 million offering on a best efforts basis.
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