Oreninc Index Update: September 12, 2013
Oreninc Index Falls for Third Straight Week
The Oreninc Index fell for the third straight week for the week ending September 12, 2013. Total dollars announced fell to $23.12m on 27 deals, three of which were brokered for $9.82m. Average deal size stumbled to $0.86m, its lowest level and the first time it’s fallen below $1m in 36 weeks. After a promising August, summer stagnation seems to be lasting longer than in previous years, bleeding into a time that has traditionally been active in the financing markets.
Summary:
- Total deals fell to 27, a six-week low.
- Three brokered deals were announced for $9.82m, a six-week low.
- One bought deal was announced for $5.82m, a one-week high.
- Dollars announced fell to $23.12m, a six-week low.
- Average deal size fell to $0.86m, a 36-week low.
Major Financing Openings:
- Atna Resources Ltd. (TSX:ATN) opened a $5.82 million offering underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis. The deal is expected to close on or about September 24, 2013.
- Banks Island Gold Ltd. (TSX-V:BOZ) opened a $4 million offering underwritten by a syndicate led by Secutor Capital Management on a best efforts basis. Each unit includes 1 warrant that expires in 18 months. The deal is expected to close on or about September 23, 2013.
- EnerGulf Resources Inc. (TSX-V:ENG) opened a $2 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.
- Khan Resources Inc. (TSX:KRI) opened a $1.19 million offering on a best efforts basis.
Major Financing Closings:
- Uranerz Energy Corporation (TSX:URZ) closed a $10.4 million offering underwritten by a syndicate led by Haywood Securities on a bought deal basis. Each unit includes a 1/2 warrant that expires in 30 months. The deal is expected to close on or about September 6, 2013.
- Pretium Resources Inc. (TSX:PVG) closed a $10 million offering on a strategic deal basis. The deal is expected to close on or about September 12, 2013.
- Mawson Resources Limited (TSX:MAW) closed a $4.2 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
- San Gold Corp. (TSX:SGR) closed a $4 million offering underwritten by a syndicate led by Primary Capital on a best efforts basis.
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