Oreninc Index Update: November 1, 2012

Oreninc Index Rallies Following Sharp Drop

Following last weeks large drop, the Index rallied back for the week ending on November 1, 2012. The comeback was driven by two $50+ million offerings. In addition to the large openings, the total number of deals announced was more than 150% of the previous week. Last week was likely a blip and the Index will remain above that level.

Summary:

• Total number of opened deals jumped to 47, a five-week high.
• Nine brokered deals were announced with brokered dollars announced more than quadrupling to $92.7 million.
• Zero bought deals were announced for the second week in a row.
• Total dollars announced increased to $231 million, a two-week high.
• Average deal size increased to $4.9 million.

This Weeks Major Private Placement Openings:

• Aureus Mining Inc. (TSX:AUE) opened a $80.28 million private placement underwritten by a syndicate led by GMP Securities LP on a best efforts basis. Each unit includes a 1/2 warrant that expires in 18 months. The deal is expected to close on or about November 16, 2012.
• McEwen Mining Inc. (TSX:MUX) opened a $60.14 million private placement on a best efforts basis. The deal is expected to close on or about November 8, 2012.
• Orocobre Ltd. (TSX:ORL) opened a $21.69 million private placement on a best efforts basis.
• Yellowhead Mining Inc. (TSX-V:YMI) opened an $8.45 million private placement on a best efforts basis. The deal is expected to close on or about November 7, 2012.

Major private placement closings:

• SilverCrest Mines Inc. (TSX-V:SVL) closed a $34.5 million private placement underwritten by a syndicate led by Dundee Securities on a bought deal basis.
• APIC Petroleum Corporation (TSX:API) closed a $30 million private placement on a best efforts basis.
• Pilot Gold Inc. (TSX:PLG) closed a $37.5 million private placement underwritten by a syndicate led by National Bank Financial on a bought deal basis. Each unit includes a 1/2 warrant that expires in 24 months.
• Sunridge Gold Corp. (TSX-V:SGC) closed a $10.83 million private placement on a best efforts basis.

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