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October 13, 2020

ORENINC #MiningStocks Financings Index Falls to 26-week Low as deals fall off

:: Oreninc ::
.@ORENINC #MiningStocks Financings Index down as deals fall off

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.

Read the full report on Oreninc here: http://oreninc.com/orenthink/entry/oreninc-index-down-as-deals-fall-off

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