Oreninc Index Stays Solid
The Oreninc Index stayed solid for the week ending December 18, 2014. The main takeaway from this week was the increase in deals announced to 48, a 25-week high. Total dollars dropped to $99m, a two-week low. Three brokered deals were announced for $15.7m, a two-week low; one bought deal was announced for $15m, a four-week high.
Deals for the week were moderate, with the biggest one of note being Coeur Mining’s (NYSE:CDE) purchase of Paramount Gold and Silver Corp. (TSX:PZG), and with it their Sleeper Gold project and other Nevada assets, in an all-stock deal worth $146m. Gold was down for the week, falling over $30 and ending below $1,200. Iron ore continued its slide to a five-and-a-half-year low on news of China’s lowest imports in 16 years. Oil did somewhat stop its treacherous slide, though still ended lower than it did the week before.
While this has truly been a rough year, it’s nice to end with a December that had some decent Index performances, even if a year ago they wouldn’t have been considered decent.