Oreninc Index Update: October 11, 2012

Oreninc Index rebounds during Thanksgiving shortened week

The Oreninc Index rebounded, from last weeks dip, during the week ending October 11. Even with only four trading days, the amount of brokered dollars announced was the highest since May. The largest driver for this week was the $100 million dollar brokered offering for PMI Gold Corporation. However even if the deal had not occurred the Indexs five-week moving average still would have climbed. The fundraising season is in full swing and seems primed to continue.

• Total number of opened deals was down slightly from last week to 29, a five-week low.
• Seven brokered deals were announced; brokered dollars announced climbed to $180 million.
• Two bought deals were announced for $46 million, a five-week low.
• Total dollars announced increased to $231 million, a three-week high.
• Average deal size popped to $7.9 million.

This weeks major private placement openings included:

• PMI Gold Corporation (TSX-V:PMV) opened a $100 million private placement underwritten by a syndicate led by Clarus Securities on a best efforts basis. The deal is expected to close on or about November 13, 2012.
• SilverCrest Mines Inc. (TSX-V:SVL) opened a $26.09 million private placement underwritten by a syndicate led by Dundee Securities on a bought deal basis. The deal is expected to close on or about October 30, 2012.
• Lumina Copper Corp. (TSX-V:LCC) opened a $23.75 million private placement on a best efforts basis.
• Pilot Gold Inc. (TSX:PLG) opened a $20.63 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. The deal is expected to close on or about November 1, 2013.

Major private placement closings:

• Belo Sun Mining Corp. (TSX:BSX) closed a $50.01 million private placement underwritten by a syndicate led by BMO Capital Markets on a bought deal basis.
• Statesman Resources (TSX-V:SRR) closed a $21.8 million private placement on a best efforts basis. Each unit includes a 1/2 warrant that expires in 24 months.
• Valeura Energy Inc. (TSX:VLE) closed a $14.95 million private placement underwritten by a syndicate led by Cormark Securities on a bought deal basis.
• Loncor Resources Inc. (TSX-V:LN) closed a $14.8 million private placement underwritten by a syndicate led by BMO Nesbitt Burns on a best efforts basis.

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