Oreninc Index Rebounds to Modest Levels
The Oreninc Index rebounded to modest levels for the week ending November 13, 2014. Total dollars jumped to $101.6m, a four-week high. Five brokered deals were announced for $73m, a four-week high; two brokered deals were announced for $70m, also a four-week high.
There were a couple of smaller deals for the week, with the Scorpio Mining (TSX:SPM) and U.S. Silver & Gold (TSX:USA) merger being the most significant transaction. The company will retain Scorpio Mining as their name. Commodity prices for the week were mostly flat.
After a couple weeks of truly awful performance, this week’s financing activity is a welcome reprieve. Still, it’s hard to get too excited when the best week in a while is still below our threshold for a healthy financing market.