Sponsors

show more ▾

Top 10 Financings

Top10 Placements 03 04 2017

top banners orenthink

Orenthink

Jared M Lemen has not set their biography yet

Oreninc Index Update: April 24, 2017

ORENINC INDEX up as gold sees volatility

 

ORENINC INDEX - Monday, April 24, 2017

North America’s leading junior mining finance data provider

 

Follow us on facebook and find us on Twitter @Oreninc

Last week index score: 54.67

This week: 65.15

The Oreninc Index showed growth again in the week ending April 20th, 2017 to 65.15 from 54.67, despite gold having a volatile week.

Total raises announced increased to C$92.1 million, a two-week high, which included six brokered financings for a total of C$64.7 million, a two-week high within which there were two bought-deal financings for C$31.6 million. The average offer size increased to C$2.9 million, a two-week high, whilst the total number of financings announced fell to 32, a three-week low.

The gold price had a volatile week that saw it experience its biggest one-day fall in six weeks before rebounding at the end of the week to close at virtually the same point as the prior week close at US$1,289. Earlier in the week, gold hit a high of US$1,294 as geopolitical risks continue to weigh on people’s minds including the US putting pressure on North Korea and the first round of the French presidential election in which the far right is threatening to do well.

The volatile gold environment saw some profit-taking and as a result the benchmark index, the van Eck managed GDXJ fell and is now up 9.48% so far in 2017. The inventory of the SPDR GLD ETF continued to grow and closed at 858.7 tonnes after hitting an intra-week high of 860.7. Silver couldn’t keep pace and ended the week by falling under US$18 to close at $18.53 despite hitting a five-month high at the start of the week at $18.53

Copper has started to drift down and fell another few cents to US$2.54 a pound, whilst oil had a more definite slide and fell below $50 to close at $49.54 a barrel.

The Dow Jones Industrial Average had a stronger week and resumed growth to close at 20,548 as did Canada’s S&P/TSX Composite Index which closed up at 15,614. Bucking the trend again was the junior space, where the S&P/TSX Venture Composite Index closed down on the week at 825.

Summary:

  • Number of financings decreased to 32, a three-week low.
  • Six brokered financings were announced for $64.7m, a two-week high.
  • Two bought-deal financings were announced for $31.6m, a two-week high.
  • Total dollars increased to $92.1m, a two-week high.
  • Average offer size bumped up to $2.9m, a two-week high.

 

Financial news highlights

Platinum Group Metals (TSX:PTM) announced a bought deal financing to raise US$20 million with BMO Capital Markets.

  • Proceeds will be used for underground development and production ramp-up of the Maseve mine in South Africa, working capital and to repay US$2.5 million outstanding under a credit agreement with a syndicate of lenders led by Sprott Resource Lending Partnership.

Red Eagle Exploration (TSX-V: XR) announced a brokered private placement to raise up to C$20 million to fund property option and acquisition costs, exploration and development programs at the Vetas, California and Santa Ana gold and silver projects in Colombia.

  • The company was formerly called CB Gold and was formed by the people behind Red Eagle Mining (TSX:R) that successfully developed the San Ramon gold mine in Antioquia, Colombia.

Endeavour Mining (TSX:EDV) reported that shareholder, La Mancha Holding exercised its anti-dilution right to re-increase its stake from 28.1% to 29.9%.

  • La Mancha undertook a C$63.4 million private placement.
  • Proceeds will be used to support the potential development of the Ity CIL gold mine project in Côte d'Ivoire that could extend mine life by more than 14 years.

Major Financing Openings:

  • Platinum Group Metals (TSX: PTM) opened a $ =INT(26,609,310.00)/1000000 26.61 million offering underwritten by a syndicate led by BMO Capital Markets on a bought deal basis.
  • Razor Energy (TSX-V: RZE) opened a $18 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis. Each unit includes half a warrant. The deal is expected to close on or about May 4, 2017.
  • Red Eagle Exploration (TSX-V: XR) opened a $20 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis. Each unit includes a warrant that expires in 18 months. The deal is expected to close on or about May 12, 2017.
  • Treasury Metals (TSX: TML) opened a $8.06 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis. Each unit includes half a warrant that expires in 24 months. The deal is expected to close on or about May 11, 2017.

 

Major Financing Closings:

  • Bluestone Resources (TSX-V:BSR) closed a $ =INT(80,000,000.00)/1000000 80 million offering underwritten by a syndicate led by Cormark Securities on a best efforts basis.
  • Coro Mining (TSX:COP) closed a $16.15 million offering on a best efforts basis.
  • Seabridge Gold (TSX:SEA) closed a $15.73 million offering underwritten by a syndicate led by Canaccord Genuity on a bought deal basis.
  • Aurania Resources (TSX-V:ARU) closed a $6.4 million offering underwritten by a syndicate led by Maison Placements Canada on a best efforts basis.

 

Company news

Oreninc sponsors had a busy week releasing several news releases. We have also signed up three new sponsors: Avrupa Minerals (TSXV: AVU), Desert Gold Ventures (TSXV:DAU) and Blue Sky Uranium (TSXV: BSK). Thank you for your support!

Prospero Silver (TSXV: PSL) C$0.29, Mkt Cap C$8.9 million

  • Obtained a C$1.5 million strategic investment from mid-tier precious metals producer Fortuna Silver Mines (TSX: FVI).
  • Fortuna purchased 5.4 million units at C$0.28 each with each unit comprising one share and one warrant exercisable at C$0.35 for three years. Fortuna has developed two mines into production (Caylloma in Peru and San Jose in Mexico) and is working on its third development project in Argentina.
  • Prospero will allocate C$1.2 million to drill test selected projects and the remainder towards generative efforts in Mexico.
  • Fortuna has the right to select one project within 18 months to JV with Prospero and potentially earn a 70% interest by spending US$8 million over six years and completing a PEA on the selected property.
  • Petate in Hidalgo is the most advanced Prospero project and where a significant sized silicified zone indicates the presence of a robust mineralized system with excellent potential to host a replacement type deposit at depth.

Conclusion

The Fortuna strategic investment provides Prospero with the funds for proof of concept drilling on its three main properties, which if successful, could lead to Fortuna entering into one or more JVs with the company to fund ongoing exploration.

Kootenay Silver (TSXV: KTN) C$0.31, Mkt Cap C$53.3 million

  • Said amended permits are in place and preparations underway for a 7,500m drill program at its La Cigarra silver project in Chihuahua, Mexico.
  • Drilling will commence in approximately two weeks and operate concurrently with ongoing geological mapping and sampling programs on peripheral target areas
  • The program will expand on the measured & indicated silver resource that is currently 18.5Mt @ 86.3 g/t Ag containing 51.5Moz Ag and an inferred resource of 4.45Mt @ 80.0 g/t Ag  containing 11.4Moz Ag.
  • Drilling will first target an 800m gap between the Las Venadas Zone and the south end of the resource (Las Carolinas Zone). The southern boundary of Las Carolinas previously returned 23.45m @ 138.3 g/t Ag in hole 155.

Conclusion

With drilling to commence shortly, Kootenay looks set to increase the size of its La Cigarra silver deposit whilst working up other targets for subsequent drill testing.

Avrupa Minerals (TSXV: AVU) C$0.10, Mkt Cap C$7.7 million

  • Completed a private placement financing of 2.5 million shares at C$0.09 for proceeds of C$225,000 for exploration and operations in Kosovo, Portugal, Vancouver and for general and administration costs.
  • Insiders purchased 840,000 shares in the placement.
  • Avrupa has funding partners in place with OZ Minerals funding work on the Alvito IOCG project in Portugal and Byrnecut International funding a large drill program at the Slivovo gold project in Kosovo.
  • Colt Resources is currently in default on its funding agreement for the Alvalade project in Portugal and Avrupa is working on a route to consolidation of the program.

 

Conclusion

Prospect generator Avrupa runs a lean ship but although it has funding partners covering the costs of several of its projects, it still needs to raise money from time-to-time for its other projects and to continue to develop its project pipeline.

Earlier this month Avrupa entered into a JV on its Alvito iron oxide, copper-gold (IOCG) project in Portugal with OZ Minerals that can earn up to 75% over 2.5 years by spending A$4 million, with Avrupa the operator. Avrupa and earlier partners have spent over €450,000 on the license and developed a central IOCG target area covering 4 x 2.5km along the 24 x 4km Alcaçovas copper belt. The new exploration program will commence in April and will include geological mapping, surface sampling, geophysics, further targeted top-of-basement sampling and a drilling program.

Alvito is an exciting exploration target with the potential to result in a sizable orebody. The OZ Minerals agreement will provide the funding for the partners to drill the property and better establish its size and grade potential.

 

Blue Sky Uranium (TSXV: BSK) ) C$0.32, Mkt Cap C$14.7 million

Is a uranium explorer with more than 350,000 ha of tenements in Argentina. Exploration by the company between 2007 and 2012 led to the discovery of a new uranium district in Rio Negro province with a 140km long trend of uranium mineralization. Blue Sky’s Amarillo Grande project covers the district, including three properties with significant near-surface uranium mineralization where drilling is underway to refine the geological model and prepare for an initial resource estimate.

 

Read More
74 Hits
0 Comments

Oreninc Index Update: April 17, 2017

ORENINC INDEX slides back for Easter

 

ORENINC INDEX - Monday, April 17, 2017

North America’s leading junior mining finance data provider

 

Follow us on facebook and find us on Twitter @Oreninc

Last week index score: 88.24

This week: 54.67

With Easter making this a short week, the Oreninc Index gave back all the gains of the previous week in the week ending April 13th, 2017 to 54.67 from 88.24, despite gold putting in a solid week.

Total raises announced decreased to C$87.4 million, a two-week low, which included three brokered financings for a total of C$11.3 million, a 14-week low within which there were no bought-deal financings. The average offer size fell to C$2.1 million, a five-week low, whilst the total number of financings announced fell to 41, a two-week low.

The gold price had a strong week, jumping over US$30 per ounce and breaking through its 200-day moving average to close at US$1,288 on the back of increasing geopolitical risk as US president Donald Trump dispatched an aircraft carrier fleet to the Korean Peninsula. President Trump also commented that he thinks the US dollar is too strong.

With gold strengthening, industry’s leading benchmark index, the van Eck managed GDXJ posted growth and is now up 16.32% so far in 2017 and the inventory of the SPDR GLD ETF saw a growth spurt to 849.9 tonnes, its highest level since December 13th, 2016. Silver also rose to close at US$18.53 whilst copper continues to tread water, dropping slightly to US$2.57 a pound. Oil continues to strengthen and closed the week at $53.18.

The Dow Jones Industrial Average had one of its poorest weeks in recent times, pulling back to 20,453. Canada followed suit and the S&P/TSX Composite Index fell to 15,535 after hitting 15,730 at the start of the week. Bucking the trend was the junior space, where the S&P/TSX Venture Composite Index closed up on the week at 834.62, closing in on its year high of 844.96 that was recorded on February 21st. According to TMX, through 28th February some $1.13 billion has been raised on the TSX and TSXV for mining, slightly less than the $1.28 billion that has been raised for oil & gas.

This past week, Oreninc published its latest podcast with The Mercenary Geologist Mickey Fulp recorded at the PDAC, to get his observations on the event, which is available on www.oreninc.com.

Financial news highlights

New Pacific Holdings (TSXV: NUX) announced a non-brokered private placement to raise up to US$32 million to acquire private Bolivian company Empresa Minera Alcira that has seven silver-polymetallic mineral properties in Bolivia.

  • The most significant property is Silver Sand in Potosí where there has been previous small-scale mining and that has been previously drilled.
  • New Pacific will carry out confirmation drilling to twin three drill holes

ATAC Resources (TSX-V:ATC) announced that Barrick Gold (TSX:ABX) will complete an $8.3 million flow through private placement in the company related to ATAC’s Rackla gold property in Canada’s Yukon Territory.

  • Barrick can acquire up to a 70% interest in Orion, the central portion of Rackla via a two-staged $55 million exploration earn-in option
  • The transactions consist of potential total investment by Barrick of about $63.3 million including payments and exploration work commitments.
  • The flow-through private placement will see Barrick increase its shareholding in ATAC from approximately 9.2% to 19.9%.
  • Proceeds of the flow-through placement proceeds will partially fund ATAC’s $10 million, 2017 exploration program at the Osiris and Rau projects that are not subject to the Barrick earn-in agreement.

Major Financing Openings:

  • New Pacific Holdings (TSX-V:NUX) opened a US$32 million (C$ =INT( 42,880,000.00 )/1000000 42.88 million) offering on a best efforts basis.
  • ATAC Resources (TSX-V:ATC) opened a $8.34 million offering underwritten by a syndicate led by PearTree Securities on a strategic deal basis. The deal is expected to close on or about May 3rd.
  • Fura Emeralds (TSX-V:FUR) opened a $3.05 million offering on a best efforts basis.  Each unit includes half a warrant that expires in 24 months. The deal is expected to close on or about April 28th.
  • International Cobalt (CSE:CO) opened a $3 million offering on a best efforts basis.  Each unit includes a warrant that expires in 24 months.

 

Major Financing Closings:

  • PetroShale (TSX-V:PSH) closed a $ =INT( 110,038,500.00 )/1000000 110.04 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis.
  • Renaissance Oil (TSX-V:ROE) closed a $12.57 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis.  
  • Eurasian Minerals (TSX-V:EMX) closed a $7 million offering on a best efforts basis.  
  • Prize Mining (TSX-V:PRZ) closed a $6 million offering on a best efforts basis.

 

Read More
129 Hits
0 Comments

Oreninc Index Update: April 10, 2017

ORENINC INDEX jumps

 

ORENINC INDEX - Monday, April 10, 2017

North America’s leading junior mining finance data provider

 

Follow us on facebook and find us on Twitter @Oreninc

Kootenay Silver (TSXV: KTN) announced high-grade silver intercepts from drilling conducted by Pan American Silver on the La Negra silver discovery within the Promontorio project in Sonora, Mexico.

NuLegacy (TSXV: NUG) provided an update about its Avocado gold discovery in the Cortez trend of Nevada and confirmed that it is a Carlin-type gold system.

Last week index score: 58.79

This week: 87.01

The Oreninc Index jumped in the week ending April 6, 2017 to 87.01 from 58.79 the previous week, recovering some of its recent losses as gold put in another growth spurt.

Total fund raising dollars announced increased to C$185.0m, a five-week high, which included four brokered financings for a total of C$68.0m within which there were two bought-deal financings for C$50.0m. The average offer size increased to C$3.6m, whilst the total number of financings announced increased to 58, a seven-week high.

The gold price had a strong week closing up at US$1,253 partly on news of a government chemical weapons attack in Syria that killed more than 80 people. US president Donald Trump Trump ordered an air attack on a Syrian air force base in response to this which drew opprobrium of Syrian ally Russia. With gold strengthening, industry’s leading benchmark index, the van Eck managed GDXJ posting growth and is now up 15.88% so far in 2017 and the inventory of the SPDR GLD ETF also grew a modest amount to 836.5 tonnes this week as did precious metals stocks. Silver pulled back under US$18 to close at US$17.96 whilst copper treaded water at US$2.64 a pound.

Last week saw the copper sector come together at the 2017 World Copper Conference in Santiago, Chile. Key takeaways were a supply deficit is brewing but copper prices need to rise to the $3.00-3.30/lb mark to unlock significant new capacity investment, but even then, are there the projects in the pipeline to meet forecast demand? Supply tightness will be particularly keen in copper concentrates, particularly given that several Asian countries are looking to increase smelter capacity.

Oil had another good week closing at $52.29.

The Dow Jones Industrial Average also treaded water this past week closing slightly down at 20,656, whilst in Canada, the S&P/TSX Composite Index closed up on the week at 15,677. In the junior space, the S&P/TSX Venture Composite Index continued to gain and closed the week at 824.27.

Financial news highlights

North American Nickel (TSX-V:NAN) announced a best-efforts offering of up to C$15 million through Paradigm Capital to commence a work program and additional exploration and drilling at its Maniitsoq project in Greenland. Maniitsoq has numerous high-grade nickel-copper sulphide occurrences in the Greenland Norite Belt.

Metanor Resources (TSX-V: MTO) announced a private placement financing of 142.9M units at C$0.07 each for gross proceeds of C$10.0 million, with Kirkland Lake Gold acquiring up to 103.6M units for C$7.3 million and Wexford Capital 18.8M units for C$1.3M. Funds will be used to advance the Bachelor mine and Barry project.

Major Financing Openings:

  • Jaguar Resources (TSX-V:JRI) opened a C$ =INT( 50,920,000.00 )/1000000 50.92 million offering on a best efforts basis.
  • Leucrotta Exploration (TSX-V:LXE) opened a C$50 million offering underwritten by a syndicate led by Haywood Securities on a bought deal basis. The deal is expected to close on or about April 26, 2017.
  • North American Nickel (TSX-V:NAN) opened a C$15 million offering underwritten by a syndicate led by Paradigm Capital on a best efforts basis. The deal is expected to close on or about May 4, 2017.
  • Metanor Resources (TSX-V:MTO) opened a C$10 million offering on a best efforts basis. Each unit includes a half warrant that expires in 24 months.

 

Major Financing Closings:

  • Tower Resources (TSX-V:TWR) closed a C$ =INT( 3,338,223.48 )/1000000 3.34 million offering on a best efforts basis.  Each unit included a half warrant that expires in 60 months.
  • Klondike Gold (TSX-V:KG) closed a C$2 million offering on a best efforts basis. Each unit include a warrant that expires in 36 months.
  • Canada Zinc Metals (TSX-V:CZX) closed a C$1.5 million offering on a best efforts basis.    
  • Pinecrest Resources (TSX-V:PCR) closed a C$1.5 million offering on a best efforts basis.

Company news

Kootenay Silver (TSXV: KTN) C$0.29, Mkt Cap C$50.7 million

Announced drilling returned more high-grade silver intercepts from the last six holes of the 2016 drill program conducted by Pan American Silver on the La Negra silver discovery within the Promontorio project in Sonora, Mexico.

Drilling returned highlights including 47.1m @ 121 g/t Ag in hole LN-67-16 and 40.85m @ 194 g/t Ag in hole LN-68-16.

The 3,500m 2016 Pan American Silver drilling program was focused on infilling La Negra with coverage to 50m centres and testing the along-strike and down dip extents, as well as following up on geophysical and geological anomalies.

Conclusion:

Additional drill holes in La Negra continue to add to the scope and potential of the discovery.

NuLegacy (TSXV: NUG) C$0.29, Mkt Cap C$84.9 million

Provided an update about its Avocado gold discovery in the Cortez trend of Nevada.

  • Drilling has confirmed that Avocado is a Carlin-type gold system with the possibility there are two distinct gold systems referred to as the West and East Avocado.
  • The drilling and geophysical and chemical surveys indicate that the gold mineralization is open to the west and northwest.
  • The initial 2017 program will drill three reverse circulation holes as step outs to the west and northwest.
  • Drilling is part of an initial forty-hole 2017 exploration program of about 10,500m.
  • NuLegacy also engaged Hybrid Financial to provide marketing, distribution and branding services for three months expiring June 30th.

Conclusion:

NuLegacy continues to add data and understanding to its Avocado gold discovery that could lead to future exploration success and the growth in its potential.

 

 

 

Read More
120 Hits
0 Comments

Oreninc Index Update: April 3, 2017

ORENINC INDEX CONTINUES TO SLIDE IN Q2 DOLDRUMS

 

ORENINC INDEX - Monday, April 3, 2017

North America’s leading junior mining finance data provider

 

Follow us on facebook and find us on Twitter @Oreninc

AuRico Metals (TSX: AMI) reported significant increases in mineral reserves and resources at properties upon which it holds royalty agreements.

Last week index score: 67.02

This week: 58.79

The Oreninc Index fell in the week ending March 31, 2017 to 58.79 following the previous week’s 67.02 as the second quarter doldrums bit hard despite gold continuing to consolidate and closing the week up slightly at US$1,249.

Gold, silver and copper continued to slowly strengthen, with silver ending the week at US$18.26 whilst copper closed the week at US$2.65 a pound. The week ahead sees the copper sector come together at the 2017 World Copper Conference in Santiago, Chile, where red metal experts and CEO’s will give their thoughts on how 2017 will play out for the metal.

The number of financings decreased to 28, a two-week low, whilst the total dollars fell to C$74.8m, a twelve-week low and the average offer size fell to C$2.7m, a three-week low. Of the 28 financings announced, there were five brokered financings for C$52.3m and two bought-deal financings. The week saw several sub C$1 million financings announced.

The US reported an improving consumer confidence index posting its best figures since December 2000 at 125.6 from 116.1 the previous month, which bolstered stock market confidence. Surrounded by representatives from coal mining companies, US President Donald Trump signed an executive order that removed and/or weakened environmental legislation by ordering the Environmental Protection Agency to replace the Clean Power Plan implemented in 2014 by President Barrack Obama. The order reversed a moratorium on coal-leasing on federal lands and brushed aside rules to curb methane emissions from oil and gas sites. The news was enough to lift oil back over the $50 mark and it closed the week at $50.60.

This week was a sad week for the European Union as UK prime minister, Theresa May, provided notice to Brussels that the UK government was triggering Article 50 of the Lisbon treaty to begin the process of the UK’s succession from the European Union.

Although gold had another robust week, the industry’s leading benchmark index, the van Eck GDXJ fell a tad more and is now up 14.04% so far in 2017, as did the inventory of the SPDR GLD ETF which fell a smidge to 832.3 tonnes this week. Whilst gold is slowly rising gold stocks continue to be volatile with profit taking stunting share price growth.

WTI crude remains under US$50 and fell 2.35% to US$48 per barrel.

With confidence brimming the Dow Jones Industrial Average closed up on the week at 20,663. In Canada, the S&P/TSX Composite Index also closed up on the week at 15,547. In the junior space, the S&P/TSX Venture Composite Index also gained to close the week at 815.77.

Financial news highlights

Seabridge Gold (TSX: SEA) announced a bought deal for one million shares @ C$14.30 to raise C$14.3 million, with the underwriters also agreeing to one million flow-through shares @ C$20.00 to raise C$20.0 million. Seabridge intends to use the proceeds to continue to advance its KSM and Iskut projects.

Golden Dawn Minerals (TSX-V: GOM) announced a financing to raise C$10.0 million @ C$0.36 per unit that includes a warrant and flow-through units @ C$0.40. The proceeds will be used for development of existing or acquired mineral properties, working capital requirements, funding negative cash flow from operating activities in future periods or for other general corporate purposes.

Summary:

  • Number of financings decreased to 28, a two-week low.
  • Five brokered financings were announced for $52.3m, a three-week low.
  • Two bought-deal financings were announced for $34.3m, a two-week high.
  • Total dollars dropped to $74.8m, a 12-week low.
  • Average offer size fell to $2.7m, a three-week low.

 

Major Financing Openings:

  • Seabridge Gold (TSX:SEA) opened a C$ =INT( 34,300,000.00 )/1000000 34.3 million offering underwritten by a syndicate led by Canaccord Genuity on a bought deal basis. The deal is expected to close on or about April 27, 2017.
  • Golden Dawn Minerals (TSX-V:GOM) opened a C$10 million offering underwritten by a syndicate led by Secutor Capital Management on a best efforts basis. Each unit includes a warrant that expires in 48 months.
  • Novo Resources (TSX-V:NVO) opened a C$8 million offering underwritten by a syndicate led by Red Cloud Klondike Strike on a best efforts basis. Each unit includes a warrant that expires in 24 months. The deal is expected to close on or about April 27, 2017.
  • Wealth Minerals (TSX-V:WML) opened a C$4.86 million offering on a best efforts basis.

 

Major Financing Closings:

  • Highland Copper Company (TSX-V:HI) finally closed a C$ =INT( 30,023,058.00 )/1000000 30.02 million offering on a best efforts basis. Each unit included half a warrant that expires in 12 months.
  • Renaissance Oil (TSX-V:ROE) closed a C$11.22 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis. Each unit includes a warrant that expires in 27 months.  
  • Algold Resources (TSX-V:ALG) closed a C$7.5 million offering underwritten by a syndicate led by Beacon Securities on a bought deal basis. Each unit includes half a warrant that expires in 24 months.  
  • Millennial Lithium (TSX-V:ML) closed a C$5.94 million offering on a best efforts basis.

 Company news

AuRico Metals (TSX: AMI) C$1.17, Mkt Cap C$184.9 million

Reported significant increases in mineral reserves and resources at Fosterville, Hemlo and Eagle River, properties upon which it holds royalty agreements.

  • At Fosterville, where it has a 2% NSR, Kirkland Lake Gold increased mineral reserves 66%, to 643,000 ounces of gold accompanied by a 27% increase in grade to 9.2 g/t Au. Measured and indicated mineral resources, including reserves, increased 23% to 2.79M ounces with a 25% increase in grade to 5.7 g/t Au.
  • At Hemlo, where it has a 0.25% NSR on the Williams mine and a 1.5% NSR on the David Bell property, Barrick Gold announced a 73% increase in mineral reserves at Hemlo to 1.58M ounces. Measured and indicated mineral resources, excluding reserves, increased 19% to 1.72M ounces. 2016 production at Hemlo totalled 235,000 ounces of gold, a 7% increase over 2015.
  • At Eagle River where it has a 0.5% NSR, Wesdome Gold Mines announced a 15% increase in mineral reserves to 344,000 ounces.
  • AuRico closed the acquisition of Kiska Metals adding six additional royalties as well as six wholly-owned properties with potential for organic royalty creation.
  • AuRico entered into an agreement with First Quantum for the Kliyul property in British Columbia. First Quantum has twelve months to evaluate Kliyul and then enter into an option to earn a 51% interest that can increase by 29% (80% total) when a decision to mine is made. Upon a mining decision, AuRico will receive advance royalty payments of C$2M a year until the commencement of commercial production and a 0.5% NSR once production commences.
  • AuRico also acquired royalties with Abitibi Royalties, whereby each party acquired a 1.0% NSR on two exploration properties near Goldcorp's Red Lake mine and a 0.75% NSR on nine exploration properties located near New Gold's Rainy River project, all in Ontario.
  • AuRico’s royalty portfolio now consists of 18 royalties.  

Conclusion:

AuRico continues to strengthen its royalty portfolio by adding both producing royalties and royalties in highly prospective areas that will add to cash flow generation.

Read More
140 Hits
0 Comments

Oreninc Index Update: March 27, 2017

ORENINC INDEX marginally down as gold strengthens

 

ORENINC INDEX - Monday, March 27, 2017

North America’s leading junior mining finance data provider

 

Follow us on facebook and find us on Twitter @Oreninc

Kootenay Silver Inc. (TSXV: KTN) JV partner Antofagasta approves 3,000m drilling budget for five targets on the Silver Fox property.

Last week index score: 69.20

This week: 67.02

The Oreninc Index fell in the week ending March 23, 2017 to 67.02 following the previous week’s 69.20 as gold continues to strengthen the US$1,200 per ounce level to close the week at US$1,242.

Whilst gold continued to slowly strengthen, copper came off 2.4% during the week to close at US$2.63 a pound, as supply concerns eased as production resumed at the Grasberg mine in Indonesia and the strike at the Escondida mine in Chile ended.

President Trump ran into a wall of opposition, including within the Republican party, regarding his attempt to repeal the Obamacare healthcare law, before finally abandoning the vote.

The number of financings increased to 32, a two-week high, although the total dollars fell to C$117.1m, a two-week low, whilst the average offer size fell to C$3.7m, also a two-week low. Of the 32 financings announced, there were five brokered financings for C$75.0m and no bought-deal financings. The week saw several sub C$1 million financings announced.

Although gold had another strong week, the industry’s leading benchmark index, the van Eck GDXJ fell slightly and is now up 14.74% so far in 2017, as did the inventory of the SPDR GLD ETF which fell to 832.6 tonnes this week. Whilst gold is rising it is not filtering through to lift other gold assets such as gold stocks of the ETFs.

WTI crude remains under US$50 and fell 2.35% to US$48 per barrel.

With a key Trump legislative initiative defeated the Dow Jones Industrial Average took a sharp fall downwards towards the end of the week to close at 20,596. In Canada, the S&P/TSX Composite Index also fell on the week to close at 15,442. In the junior space, the S&P/TSX Venture Composite Index fell to close the week at 803.60.

Financial news highlights

Coro Mining (TSX: COP) announced a non-brokered private placement financing of up to 107.7M shares @ C$0.15 to raise up to C$16.2M to fund the acquisition of Minera Rayrock and to continue to explore the Marimaca project. The Rayrock acquisition will provide Coro with the Ivan SX-EW plant located 18km from Marimaca that has capacity to produce 12,000 tpy of copper cathode. Coro announced a maiden mineral resource estimate in January of 145,500t of copper in the measured & indicated categories and 99,300t in the inferred category.

BonTerra Resources (TSX-V: BTR) announced that Kinross Gold (TSX: K) agreed to acquire 14.9M shares @ C$0.35 each for total gross proceeds of C$5.2M, amounting to 9.5% of BonTerra’s issued and outstanding common shares. BonTerra is exploring several projects including the Gladiator project in Abitibi district in Quebec that has an inferred resource of 905,000t @ 9.37 g/t Au and Larder Lake in Ontario that has an inferred resource of 5.1Mt @ 5.55 g/t Au.

Summary:

  • Number of financings dropped to 27, a nine-week low.
  • Two brokered financings were announced for $102.8m, a four-week high.
  • One bought-deal financings were announced for $98.8m, a seven-week high.
  • Total dollars increased to $128.9m, a two-week high.
  • Average offer size doubled to $4.7m, a two-week high.

 

Major Financing Openings:

  • PetroShale (TSX-V:PSH) opened a C$70 million offering underwritten by a syndicate led by Haywood Securities on a best efforts basis. The deal is expected to close on or about April 11, 2017.
  • Coro Mining (TSX:COP) opened a C$16.2 million offering on a best efforts basis.
  • BonTerra Resources (TSX-V:BTR) opened a C$5.2 million offering on a strategic deal basis. The deal is expected to close on or about March 24, 2017.
  • TriStar Gold (TSX:TSG) opened a C$4 million offering underwritten by a syndicate led by Echelon Wealth Partners on a best efforts basis. Each unit includes a half warrant that expires in 24 months. The deal is expected to close on or about April 26, 2017.

 

Major Financing Closings:

  • JDL Gold (TSX-V:JDL) closed a C$63.42 million offering on a best efforts basis. Each unit includes a warrant that expires in 57 months.
  • Argonaut Gold (TSX:AR) closed a C$45 million offering underwritten by a syndicate led by BMO Capital Markets on a bought deal basis.
  • TAG Oil (TSX:TAO) closed a C$15 million offering underwritten by a syndicate led by Mackie Research Capital on a best efforts basis. Each unit includes a half warrant that expires in 24 months.
  • Metanor Resources (TSX-V:MTO) closed a C$11.5 million offering underwritten by a syndicate led by Red Cloud Klondike Strike on a best efforts basis.  

 

Company news

Kootenay Silver Inc. (TSXV: KTN) C$0.31, Mkt Cap C$53.3 million

  • Approved a budget with Antofagasta (LSE: ANTO), to drill five targets on Kootenay's Silver Fox property in British Columbia. A 3,000m drill program is scheduled to commence during 3Q17.
  • Silver Fox comprises over 21,000 hectares covering the northern extension of an established copper-silver mineralized belt originating from Montana, where the three principal deposits either host or produced over 522Moz Ag & 2.39Mt Cu at grades ranging from 1.7-2.0oz/ t Ag & 0.7-0.8% Cu. This mineralized trend is known as the Western Montana Copper Belt.
  • Silver Fox covers about 35km kilometres of strike length of the prospective hosting stratigraphy in Canada.
  • Under the terms of the JV agreement, Antofagasta has the option to earn up to an 80% interest in Silver Fox.

Kootenay Silver is an exploration company with projects in the Sierra Madre region of Mexico and in British Columbia, Canada. Its leading properties are the La Cigarra silver project and the Promontorio Mineral Belt, in Chihuahua, Mexico and Sonora, Mexico. The Promontorio mineral belt includes the La Negra high-grade silver discovery and its Promontorio silver resource that is under option to Pan American Silver.

Conclusion:

Antofagasta is one of the world’s leading copper mining companies and the decision to start drilling at Silver Fox will test the extension of a proven producing mineralized belt, giving Kootenay the opportunity to benefit from a new discovery with reduced project risk. 

Read More
156 Hits
0 Comments
Powered by EasyBlog for Joomla!