ORENINC INDEX - Monday, October 12th 2020
North America's leading junior mining finance data provider
Last Week: 57.95
This week: 35.85
The Oreninc Index fell in the week ending October 9th, 2020 to 35.85 from 57.95 a week ago as the number of deals fell away.
On to the money: the aggregate financings announced decreased to $49.69 million, a 26-week low, which included one brokered financing for $13.1 million, an eight-week low, and one bought deal financing for $13.1 million, a one-week high. The average offer size fell to $2.26 million, a six-week low, while the number of financings fell to 22.
Summary
- Number of financings decreased to 22.
- One brokered financing was announced this week for $13.1 million, an eight-week low.
- One bought-deal financing was announced this week for $13.1 million, a one-week high.
- Total dollars fell to $49.69 million, a 26-week low.
- Average offer fell to $2.26 million, a six-week low.
Financing Highlights
Denison Mines (TSX:DML) opened a bought deal private placement to raise US$10 million.
- Subsequently raised to US$17.4 million
- 47 million shares @ US$0.37.
- Cantor Fitzgerald Canada and Haywood Securities as co-lead underwriters and joint book-runners.
- Proceeds to be used to fund evaluation and environmental assessment activities on its Wheeler River uranium project in Saskatchewan, Canada.
Major Financing Openings
- Denison Mines (TSX:DML) opened a $13.12 million offering underwritten by a syndicate led by Cantor Fitzgerald Canada on a bought deal basis. The deal is expected to close on or about October 14th.
- Maple Gold Mines (TSXV:MGM) opened a $6.2 million offering on a best efforts basis. Each unit includes a warrant that expires in three years.
- Sassy Resources (CSE:SASY) opened a $5 million offering on a best efforts basis. Each unit includes half a warrant that expires in two years.
- Labrador Gold (TSXV:LAB) opened a $4.05 million offering on a best efforts basis. Each unit includes a warrant that expires in two years.
Major Financing Closings
- Wallbridge Mining Company (TSX:WM) closed a $63.83 million offering underwritten by a syndicate led by BMO Capital Markets on a bought deal basis.
- Trillium Gold Mines (TSXV:TGM) closed a $12.95 million offering underwritten by a syndicate led by Eight Capital on a best efforts basis. Each unit included half a warrant that expires in two years.
- Kodiak Copper (TSXV:KDK) closed a $12.68 million offering on a best efforts basis.
Desert Mountain Energy (TSXV:DME) closed a $9.12 million offering on a best efforts basis.
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