Oreninc Index Update: October 25, 2012

Oreninc Index Tumbles to Lowest Level Since August

The Oreninc Index fell to its lowest level since mid August during the week ending October 25th. Decreases occurred in all index factors including deals announced, total dollars announced, and broker participation. While it is unlikely that the financing market window has closed completely, this drop serves as a reminder of the fragility of the underlying financing market.

• Total number of opened deals fell to 30, a two-week low.
• Six brokered deals were announced; brokered dollars announced fell to $19.5 million.
• Zero bought deals were announced for the first time since August.
• Total dollars announced dropped to $69 million, a seven-week low.
• Average deal size decreased to $2.3 million.

This Weeks Major Private Placement Openings:

• Peregrine Diamonds Ltd. (TSX:PGD) opened a $10 million private placement on a best efforts basis.
• Cardero Resource Corp. (TSX:CDU) opened a $10 million private placement on a best efforts basis.
• St. Elias Mines Ltd. (TSX-V:SLI) opened a $10 million private placement on a best efforts basis. Each unit includes 1 warrant that expires in 24 months.
• Comstock Metals Ltd. (TSX-V:CSL) opened a $6 million private placement on a best efforts basis.

Major private placement closings:

• Premier Gold Mines Limited (TSX:PG) closed a $61.24 million private placement underwritten by a syndicate led by RBC Capital Markets on a bought deal basis.
• Mercator Minerals Ltd. (TSX:ML) closed a $29 million private placement underwritten by a syndicate led by Haywood Securities on a bought deal basis.
• Lumina Copper Corp. (TSX-V:LCC) closed a $23.75 million private placement on a best efforts basis.
• Red Eagle Mining Corporation (TSX-V:RD) closed an $11.67 million private placement on a best efforts basis.

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