Oreninc Index Update: November 8, 2012
Tuesday, December 4, 2012 6:10
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Oreninc Index Falls for Second Time in Three Weeks
The Oreninc Index fell to the second lowest level since September during the week ending November 8, 2012. The Fall financing market has moved past its primary peak. Brokers are becoming more difficult to find and offerings underwritten on a bought deal basis have been non-existent for three weeks. On a positive note, based on historic data, the markets will likely have at least one more peak before the end of year lull.
Summary:
- Total number of opened deals fell to 35.
- Eight brokered deals were announced, down from last week; brokered dollars announced was cut in half to $41 million.
- Zero bought deals were announced for the third week in a row.
- Total dollars announced dropped to $72 million.
- Average deal size decreased to $2.07 million, a nine week low.
This Weeks Major Private Placement Openings:
- Klondex Mines Ltd. (TSX:KDX) opened a $20 million private placement underwritten by a syndicate led by GMP Securities on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about November 20, 2012.
- Aureus Mining Inc. (TSX:AUE) opened a $12 million private placement underwritten by a syndicate led by GMP Securities 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.
- Tirex Resources (TSX-V:TXX) opened a $7.7 million private placement on a best efforts basis.
- GeoMegA Resources (TSX-V:GMA) opened a $3.5 million private placement underwritten by a syndicate led by Industrial Alliance on a best efforts basis.
Major private placement closings:
- LGX Oil + Gas Inc. (TSX-V:OIL) closed a $47.57 million private placement underwritten by a syndicate led by FirstEnergy Capital on a bought deal basis.
- Keegan Resources Inc. (TSX:KGN) closed a $32.5 million private placement on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.
- Labrador Iron Mines Holdings (TSX:LIM) closed a $30 million private placement underwritten by a syndicate led by Canaccord Genuity on a bought deal basis.
- Orocobre Ltd. (TSX:ORL) closed a $21.69 million private placement underwritten by a syndicate led by Canaccord Genuity on a best efforts basis.
2012-12-04 06:00:26
Source: http://oreninc.com/orenthink/20121113-oreninc-index-update
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