Oreninc Index Update: October 18, 2012
Tuesday, December 4, 2012 6:10
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Oreninc Index five-week moving average climbs for sixth straight week
The Oreninc Index fell slightly for the week ending October 18. Nonetheless the five-week moving average has climbed for six straight weeks, the longest stretch since March. The fundraising window is still open for brokered and non-brokered deals, however the moving average is approaching a peak. The industry could desperately use a plateau, not a sharp decline.
- Total number of opened deals increased to 40, a three-week high.
- 11 brokered deals were announced; brokered dollars announced fell to $133 million.
- Five bought deals were announced for $91 million.
- Total dollars announced increased to $244 million, a four-week high.
- Average deal size decreased to $6.25 million.
This weeks major private placement openings included:
- LGX Oil + Gas Inc. (TSX-V:OIL) opened a $47.57 million private placement underwritten by a syndicate led by FirstEnergy Capital on a bought deal basis. The deal is expected to close on or about November 6, 2012.
- Keegan Resources Inc. (TSX:KGN) opened a $32.5 million private placement on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.
- Delphi Energy Corp. (TSX:DEE) opened a $33 million private placement underwritten by a syndicate led by Stifel Nicolaus on a best efforts basis.
- Seabridge Gold Inc. (TSX:SEA) opened a $24 million private placement underwritten by a syndicate led by Stonecap Securities on a bought deal basis. The deal is expected to close on or about November 21, 2012.
Major private placement closings:
- Donnycreek Energy Inc. (TSX-V:DCK) closed a $29.07 million private placement underwritten by a syndicate led by RBC Capital Markets on a best efforts basis.
- DeeThree Exploration Ltd. (TSX:DTX) closed a $22.27 million private placement underwritten by a syndicate led by Macquarie Capital Markets Canada Ltd. on a bought deal basis.
- Manitok Energy Inc. (TSX-V:MEI) closed a $17.2 million private placement underwritten by a syndicate led by Integral Wealth Securities on a bought deal basis.
- Sarama Resources Ltd. (TSX-V:SWA) closed a $12 million private placement underwritten by a syndicate led by GMP Securities on a bought deal basis.
2012-12-04 06:00:24
Source: http://oreninc.com/orenthink/20121024-oreninc-index-update
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