Gold accounted for eight of the top ten largest financing’s closed in Canadian capital markets in March, with oil & gas and graphite taking a spot each. The top ten deals closed aggregated $118.8 million, a 25.3% from $336.1 million closed in February, and representing 74.7% of the $159.1 million in deals closed, with three deals over $10 million. Premier Gold Mines led the way with a $38 million financing followed by Harte Gold ($27 million) and Corridor Resources ($20 million).
Premier Gold Mines lead the gold rankings with $38 million raised in March, followed by Harte Gold ($27 million) and QMX Gold ($6.8 million). The top ten yellow metal financings aggregated $100.5 million, a 27.9% decrease from the $139.4 million closed in February, and accounting for 63.2% of the total closed, with two financings of more than $10 million.
Base metals deals continued to wither away with the top financings closed raising just $5.9 million in March, a 29.8% fall from the $8.4 million raised in February, representing just 3.7% of the total. FPX Nickel was the largest financing at $1.5 million, the only financing for more than $1 million.
Battery metals faired equally poorly in March with $5.5 million raised, 66.9% less than the $16.6 million raised in February, and 3.5% of the total. The biggest raise was $2.4 million by SRG Mining.
March saw 74 deals close, which included a whopping 49 financings closed for less than $1 million, 66.23% of the total, while just 4.1% were for more than $10 million.