Last week index score: 45.96
This week: 35.42
Zinc One Resources (TSX-V: Z) reported the final drill results from the high-grade zinc discovery in the Mina Chica zone of its Bongará zinc project in north-central Peru.
The Oreninc Index fell in the week ending June 8th, 2018 to 35.42 from 45.96 a week ago as financings decreased, and broker action stayed away.
Gold spent the week flirting again with the US$1,300/oz level in the run up to the G7 summit in Canada, with US president Donald Trumplooking to pick a fight with anyone that would pay him attention as he also prepares for a summit meeting with North Korean leader Kim Jong-un. Despite the trade sabre-rattling, those watching the precious metals space are waiting for the outcome of the US Federal Reserve Market Committee (FOMC) meeting this coming week and any indications related to further interest rate increases.
Financings and broker activity continue to be sparse as Oreninc’s Kai Hoffmann showed at the 121 Mining Investment Conference in New York last week, as interest in the mining sector continues in a funk.
On to the money: total fund raises announced halved to C$50.8 million, a two-week low, which included no brokered financings and no bought deal financings. The average offer size fell to C$2.0 million, an eleven-week low whilst the number of financings fell to 25, a two-week low.
Gold closed up at US$1,298/oz from US$1,293/oz a week ago. Gold is now down 0.36% this year. The US dollar index closed down a tad at 93.53 from 94.15 a week ago. The van Eck managed GDXJ closed down a smidge at US$32.78 from US$32.80. The index is down 3.96% so far in 2018. The US Global Go Gold ETF increased to US$12.95 from US$12.71 a week ago. It is now down 0.46% so far in 2018. The HUI Arca Gold BUGS Index closed down at 178.83 from 179.15 last week. The SPDR GLD ETF continued to sell off and closed its inventory down at 828.76 tonnes from at 836.42 tonnes a week ago.
In other commodities, silver closed up at US$16.78/oz from US$16.41/oz a week ago. Copper’s gain accelerated as it closed up at US$3.30/lb from US$3.09/lb last week. Oil continued to lose ground as it closed down slightly at US$65.74 a barrel from US$65.81 a barrel a week ago.
The Dow Jones Industrial Average saw a strong rebound to close up at 25,316 from 24,635 last week. Canada’s S&P/TSX Composite Index also saw a winning week to close up at 16,202 from 16,043 the previous week. The S&P/TSX Venture Composite Index also closed up at 775.22 from 765.94 last week.
Summary:
Financing Highlights
Nouveau Monde Graphite (TSX-V: NOU) opened an C$8.0 million private placement @ C$0.30 with Eight Capital and Haywood Securities as co-lead agents.
Major Financing Openings:
Major Financing Closings:
Company News
Zinc One Resources (TSX-V:Z) reported the final drill results from the high-grade zinc discovery in the Mina Chica zone of its Bongará zinc project in north-central Peru.
Analysis
With a new high-grade zinc discovery, this phase of drilling has been very successful, adds to the potential of the project, even though the size potential of the Mina Chica zone will have to wait for a future drilling programme. And with only a small portion of the 6km mineralized trend tested, there is a lot more exploration (and results) to come in the future.
About Oreinc.com:
Oreninc.com is North America’s leading provider of relevant financing information in the junior commodities space. Since 2011, the company has been keeping track of financings in the junior mining as well as oil and gas space. Logging all relevant deal and company information into its proprietary database, called the Oreninc Deal Log, Oreninc quickly became the go-to website in the mining financing space for investors, analysts, fund managers and company executives alike.
The Oreninc Deal Log keeps track of over 1,400 companies, bringing transparency to an otherwise impenetrable jungle of information. The goal is to increase the visibility of transactions and to show financings activity in a digestible format. Through its daily logging activities, Oreninc is in a position to pinpoint momentum changes in the markets, identify which commodities are trending and which projects are currently receiving funding.
Last week index score: 52.74
This week: 30.90
The Oreninc Index fell in the week ending May 25th, 2018 to 30.90 from 52.74 a week ago despite gold recovering from the prior weeks’ fall below US$1,300/oz.
Gold recovered from a brief sojourn below the US$1,300/oz level as risk returned with US president Donald Trump calling off a landmark summit with North Korean leader Kim Jong Un. The yield on the US ten-year treasury fell below 3% as suggestions from the US Federal Reserve about a temporary rise in inflation raised questions over whether there will be multiple interest rate increases this year. All good news for gold. All eyes will be on the US Federal Reserve Open Market Committee meeting on June 12-13.
On to the money: total fund raises announced fell to C$38.8 million, an eleven-week low, which included two brokered financings for C$10.8 million, a two-week low and one bought deal financing for C$7.0 million, a two-week low. The average offer size fell to C$2.9 million, a three-week low and the number of financings fell to 13, an eleven-week low.
Gold closed at US$1,309/oz from US$1,293/oz a week ago. Gold is now down 0.04% this year. The US dollar index continued to increase and closed up at 94.25 from 93.63 a week ago. The Van Eck managed GDXJ made a slight gain after a volatile week closing up at US$32.89 from US$32.84 last week. The index is down 3.63% so far in 2018. The US Global Go Gold ETF fell slightly to close at US$12.93 from US$12.98 a week ago. It is now down 0.61% so far in 2018. The HUI Arca Gold BUGS Index closed up at 180.20 from 177.75 last week. The SPDR GLD ETF continued to sell off and closed its inventory at 848.50 tonnes from 855.28 tonnes a week ago.
In other commodities, silver made a small gain on a volatile week to close up at US$16.51/oz from US$16.44/oz a week ago. Copper showed a similar pattern to close up at US$3.07/lb from US$3.06/lb last week. Oil was the main loser of the week with its price taking a dump at the end of the week to close down at US$67.88 a barrel from US$71.28 a barrel a week ago.
The Dow Jones Industrial Average returned to growth to close up at 24,753 from 24,715 last week. Canada’s S&P/TSX Composite Index showed a slight loss to close down at 16,075 from 16,162 the previous week. The S&P/TSX Venture Composite Index also closed down at 775.41 from 786.39 last week.
Summary:
Financing Highlights
Probe Metals (TSX-V: PRB) opened a C$14 million financing.
Major Financing Openings:
Major Financing Closings:
About Oreinc.com:
Oreninc.com is North America’s leading provider of relevant financing information in the junior commodities space. Since 2011, the company has been keeping track of financings in the junior mining as well as oil and gas space. Logging all relevant deal and company information into its proprietary database, called the Oreninc Deal Log, Oreninc quickly became the go-to website in the mining financing space for investors, analysts, fund managers and company executives alike.
The Oreninc Deal Log keeps track of over 1,400 companies, bringing transparency to an otherwise impenetrable jungle of information. The goal is to increase the visibility of transactions and to show financings activity in a digestible format. Through its daily logging activities, Oreninc is in a position to pinpoint momentum changes in the markets, identify which commodities are trending and which projects are currently receiving funding.
Last week index score: 36.21 (updated)
This week: 52.74
The Oreninc Index rose in the week ending May 18th, 2018 to 52.74 from an updated 36.21 a week ago despite good falling below US$1,300/oz.
Gold finally gave way and fell below the US$1,300/oz level to hit a year-to-date low as the US dollar continued to strengthen, the US ten-year treasury hit a 3% yield and economic data continued to show positive results.
US dollar strength is overpowering geopolitical risk concerns which continue to swirl around: the past week saw the US open its new embassy in Israel in Jerusalem. The ceremony was attended by president Trump’s daughter, Ivanka and provoked mass protests by Palestinians during which Israeli security forces killed dozens.
President Trump’s blunt, hard ball approach to issues also threatened to derail the possibility of talks with North Korean leader Kim Jong-Un after the US carried out extensive war air exercises with South Korea.
On to the money: total fund raises announced increased to C$81.7 million, a two-week low, which included five brokered financings for C$50.5 million, a nine-week high and two bought deal financings for C$20.0 million, a one-week high. The average offer size grew to C$3.5 million, a two-week low and the number of financings grew to 23, a two-week high.
Gold fell to US$1,293/oz from US$1,319/oz a week ago after hitting a low of US$1,285/oz. Gold is now down 0.75% this year. The US dollar index increased again and closed up at 93.63 from 92.54 a week ago. The van Eck managed GDXJ suffered as a result closing down at US$32.84 from US$33.85 last week. The index is down 3.78% so far in 2018. The US Global Go Gold ETF also fell to US$12.98 from US$13.35 a week ago. It is now down 0.23% so far in 2018. The HUI Arca Gold BUGS Index closed down at 177.75 from 182.24 last week. The SPDR GLD ETF again saw sales to close its inventory at 855.28 tonnes from 857.64 tonnes a week ago.
In other commodities, silver also gave up ground to close down at US$16.44/oz from US$16.66/oz a week ago. Likewise, copper closed down at US$3.06/lb from US$3.11/lb last week. Oil continued to post gains to close up at US$71.28 a barrel from US$70.51 a barrel a week ago.
The Dow Jones Industrial Average again saw losses to close down at 24,715 from 24,831 last week. Canada’s S&P/TSX Composite Index continued to see growth to close up at 16,162 from 15,983 the previous week. The S&P/TSX Venture Composite Index also closed up at 786.39 from 782.92 last week.
Summary:
Financing Highlights
Canadian Zinc (TSX: CZN) entered into an equity financing agreement with RCF VI to purchase 100 million shares @ C$0.20 for gross proceeds of $20 million.
Major Financing Openings:
Major Financing Closings:
About Oreinc.com:
Oreninc.com is North America’s leading provider of relevant financing information in the junior commodities space. Since 2011, the company has been keeping track of financings in the junior mining as well as oil and gas space. Logging all relevant deal and company information into its proprietary database, called the Oreninc Deal Log, Oreninc quickly became the go-to website in the mining financing space for investors, analysts, fund managers and company executives alike.
The Oreninc Deal Log keeps track of over 1,400 companies, bringing transparency to an otherwise impenetrable jungle of information. The goal is to increase the visibility of transactions and to show financings activity in a digestible format. Through its daily logging activities, Oreninc is in a position to pinpoint momentum changes in the markets, identify which commodities are trending and which projects are currently receiving funding.
Website: www.oreninc.com
Last week index score: 45.85 (updated)
This week: 25.90
Prospero Silver (TSX-V: PSL) and Fortuna Silver Mines (TSX:FVI) amended their strategic financing agreement and amended the 2018 work program in Mexico.
NuLegacy Gold (TSX-V: NUG) began drilling on its Red Hill in the Cortez gold trend of Nevada.
Zinc One Resources (TSX-V: Z) announced additional drill results from the Mina Grande Sur zone at its Bongará zinc mine project in north-central Peru.
The Oreninc Index halved in the week ending May 11th, 2018 to 22.90 from an updated 45.85 a week ago as funding again dried up.
Another quiet and less volatile week that saw gold steadily build momentum throughout the week only to lose it at the end. The US and North Korea agreed to meet at a landmark presidential summit in Singapore. Meanwhile, US president Donald Trump pulled the US out of the 2015 Iran nuclear framework deal and said that the US will continue to impose sanctions on the country and any company that continues to do business with it to the ire of European countries.
On to the money…total fund raises announced fell to C$56.5 million, a seven-week low, which included no brokered financings, a five-week low, and no bought deal financings, also a five-week low. The average offer size grew to C$2.9 million, a two-week high although the number of financings fell to 19, a nine-week low. Whilst the dollars announced did not fall much from last week, the absence of broker action saw the Oreninc Index take a proportionally bigger hit.
A flat week for gold as it closed up slightly at US$1,319/oz from US$1,314/oz a week ago. Gold is now up 1.27% this year. The US dollar index, on a tear since mid-April, finally took a hit and closed down at 92.5 from 92.56 a week ago after hitting a high of 93.12. The Van Eck managed GDXJ posted growth through the week and then weakened at the close to end up at US$33.85 from US$33.55 last week. The index is down 0.82% so far in 2018. The US Global Go Gold ETF also saw growth to close up at UA$13.35 from US$13.11 a week ago. It is up 2.61% so far in 2018. The HUI Arca Gold BUGS Index closed up at 182.24 from 181.39 last week. The SPDR GLD ETF again saw sales to close its inventory at 857.64 tonnes from 864.13 tonnes a week ago.
In other commodities, silver made a gain to close up at US$16.66/oz from US$16.53/oz a week ago. Likewise, copper made gains to close up at US$3.11/lb from US$3.08/lb last week. Oil continued to post gains to close up at US$70.51 a barrel from US$69.72 a barrel a week ago, returning to levels last seen in late 2014.
The Dow Jones Industrial Average rebounded from its losses last week to close up at 24,831 from 24,262 last week. Canada’s S&P/TSX Composite Index also saw growth to close up at 15,983 from 15,729 the previous week. The S&P/TSX Venture Composite Index closed up at 782.92 from 772.24 last week.
Summary:
Financing Highlights
West African Resources (TSX-V: WAF) is to raise A$35 million to fund pre-development activities at its Sanbrado gold project in Burkina Faso.
Major Financing Openings:
Major Financing Closings:
Company News
Prospero Silver (TSX-V: PSL) and Fortuna Silver Mines (TSX: FVI) amended their strategic financing agreement and amended the 2018 work program in Mexico.
Analysis
The renewed commitment by Fortuna to test new targets is encouraging. The repricing and exercising of Fortuna’s warrants is a non-dilutive way for Prospero to secure more funding at a premium to market price for the planned work and removes warrant overhang from the stock.
NuLegacy Gold (TSX-V: NUG) began drilling on its Red Hill in the Cortez gold trend of Nevada.
Analysis
With a new season of drilling commencing following an extended winter break, the company is looking to step out from and grow the size of its existing discoveries as well as continuing to find new mineralized areas to increase the overall size and scope of Red Hill. The next couple of months should see regular news flow from the company.
Zinc One Resources (TSX-V:Z) announced additional drill results from the Mina Grande Sur zone at its Bongará zinc mine project in north-central Peru.
Analysis
This portion of the Mina Grande Sur drill program was designed to determine the extent of the mineralization so obtaining additional high-grade intersections is a bonus and attest to the robustness of Mina Grande Sur, which should be reflected in the upcoming resource calculation.
About Oreinc.com:
Oreninc.com is North America’s leading provider of relevant financing information in the junior commodities space. Since 2011, the company has been keeping track of financings in the junior mining as well as oil and gas space. Logging all relevant deal and company information into its proprietary database, called the Oreninc Deal Log, Oreninc quickly became the go-to website in the mining financing space for investors, analysts, fund managers and company executives alike.
The Oreninc Deal Log keeps track of over 1,400 companies, bringing transparency to an otherwise impenetrable jungle of information. The goal is to increase the visibility of transactions and to show financings activity in a digestible format. Through its daily logging activities, Oreninc is in a position to pinpoint momentum changes in the markets, identify which commodities are trending and which projects are currently receiving funding.
Website: www.oreninc.com
Last week index score: 45.59 (updated)
This week: 37.75
Oreninc: Interview Session with Mickey Fulp – Episode 22 now live
The Oreninc Index fell in the week ending April 27th, 2018 to 37.75 from an updated 45.59 a week ago as the number of deals fell despite some broker action returning.
A calmer and less volatile week all round with the presidents of North and South Korea meeting for the first time in decades, thawing tensions over the north’s nuclear ambitions, whilst in the US, president Donald Trump eased his position on sanctions against Russian aluminium producer Rusal. Maybe spring is in the air and the world is feeling more positive.
Another range-bound week for gold, this time ending in negative territory as the US dollar strengthened, although there are signs that gold stocks are starting to strengthen.
On to the money: total fund raises announced more than quadrupled to C$96.3 million, a four-week high, which included one brokered financing, a four-week low, and one bought deal financing, also a four-week low. The average offer size also more than quadrupled to C$4.8 million, a four-week high. However, the number of financings decreased to 20, a four-week low.
Gold closed down at US$1,324/oz from US$1,336/oz a week ago. Gold is now up 1.63% this year. Meanwhile, the US dollar index continued to strengthen and closed up at 91.54 from 90.31 a week ago. The van Eck managed GDXJ gave up ground and closed down at US$33.03 from US$33.49 last week. The index is down 3.22% so far in 2018. The US Global Go Gold ETF also fell to close down at US$12.99 from US$13.04 a week ago. It is down 0.12% so far in 2018. The HUI Arca Gold BUGS Index closed down at 182.04 from 184.18 last week. The SPDR GLD ETF saw a growth week as its inventory grew to 871.20 from 865.89 tonnes where it had been for nine-days straight.
In other commodities, silver’s recent growth spurt deflated and closed down at US$16.51/oz from US$17.11/oz a week ago. Copper also gave up a lot of ground as it closed down at US$3.06/lb from US$3.15/lb last week. Oil consolidated despite a slight loss on the week to close down at US$68.10 a barrel from US$68.40 a barrel a week ago.
The Dow Jones Industrial Average lost some ground and closed down at 24,311 from 24,462 last week. Canada’s S&P/TSX Composite Index put in a strong growth week as mining stocks showed growth to close at 15,668 from 15,484 the previous week. The S&P/TSX Venture Composite Index closed down at 783.76 from 804.96 last week.
Summary:
Financing Highlights
SilverCrest Metals (TSX-V: SIL) announced a C$15 million bought deal financing
Syndicate of underwriters led by PI Financial and Cormark Securities for 7.1 million shares @ C$2.10.
Major Financing Openings:
Major Financing Closings:
Company News
Prospero Silver (TSX-V: PSL) provide an update on planned exploration work on its Mexican projects for 2018.
Analysis
Having recently announced a fund raise, the work plan shows that Prospero will continue to drill test the targets it has identified via its geological hypothesis for discovering large, blind silver deposits. Whilst the news release did not explicitly state that its strategic partner Fortuna Silver (TSX:FVI) would co-fund this exploration program, that seems likely given the technical success of the 2017 exploration program and that Fortuna has yet to select a project to joint-venture under its strategic agreement with Prospero.
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Last week index score: 44.24 (updated)
This week: 21.62
Prospero Silver (TSX-V: PSL) announced a non-brokered private placement to raise up to C$1.0 million through the issuance of up to 11.1 million units @ C$0.09.
The Oreninc Mining Deal Club sent out its sixth financing alert to its subscribers. Sign up today to get the details and an opportunity to participate: www.miningdealclub.com
The Oreninc Index halved in the week ending April 20th, 2018 to 21.62 from an updated 44.24 a week ago as broker action evaporated (again).
US tariffs and sanctions against steel and aluminium imports, particularly from Russia, are ripping through various metal markets with aluminium and nickel prices spiking. Aluminium prices have spiked 30% since the start of April to a seven-year high due to sanctions against Rusal. Fears that supplies of steel-additive nickel could come into Trump’s crosshairs if more sanctions against Russian businesses and businessmen are rolled out has seen its price spike on the London Metals Exchange, recording its highest one-day move since 2008 and hitting three-year highs.
On to the money: total fund raises announced tumbled to a paltry C$22.6 million, a six-week low, which included no brokered financings and no bought deal financings. The average offer size dropped to a barely visible C$1.1 million, a six-week low. The few financings announced and bringing with them a general return to the full warrant to attract interest.
Another week of failed expectations for gold as strong performance throughout the week fell at the end as the US dollar index strengthened following news that US initial weekly jobless claims dropped to 232,000, its lowest level in three weeks according to the Labor Department.
Gold closed down at US$1,336/oz from US$1,346/oz a week with a mid-week high of US$1,349/oz. Gold is now up 2.58% this year. Meanwhile, the US dollar index had a stronger week and closed up at 90.31 from 89.80 a week ago. The van Eck managed GDXJ saw early week gains dissipate at the close to finish the week exactly where it started at US$33.49 despite a mid-week high of US$34.06 last week. The index is down 1.88% so far in 2018. The US Global Go Gold ETF also saw strong growth but gave up less as the week ended to close up at US$13.04 from US$12.81 a week ago with a mid-week high of US$13.11. It is up 0.23% so far in 2018. The HUI Arca Gold BUGS Index closed down at 184.18 from 184.43 last week. The SPDR GLD ETF saw a week of consolidation as its inventory remains at 865.89 tonnes.
In other commodities, silver put in a growth spurt and despite losing some shine at the end of the week closed up at US$17.11/oz from US$16.65/oz a week ago wit ha mid-week high of US$17.24/oz. Coppers price growth continues and closed up at US$3.15/lb from US$3.07/lb from US$3.05/lb last week. Oil continues to post gains to close up at US$68.40 a barrel from US$67.39 a barrel a week ago. This puts its price back to levels levels last seen in December 2014. Despite US president Donald Trump saying the oil price is getting too high, it looks set to go higher as OPEC and Russia look to maintain supply restraint, even though surplus oil has largely been worked out of the system.
The Dow Jones Industrial Average closed up at 24,462 from 24,360 last week with a mid-week high of 24,786. Likewise, Canada’s S&P/TSX Composite Index grew to 15,484 from 15,273 the previous week. The S&P/TSX Venture Composite Index also closed up at 804.96 from 795.94 last week.
Summary:
Financing Highlights
EnGold Mines (TSX-V: EGM) opened a C$3.5 million offering on best efforts basis.
Major Financing Openings:
Major Financing Closings:
Company News
Prospero Silver (TSX-V: PSL) announced a non-brokered private placement to raise up to C$1.0 million through the issuance of up to 11.1 million units @ C$0.09.
Analysis
With the initial phase of its strategic arrangement with Fortuna Silver drawing to a close, and 2018 exploration planning underway, Prospero is raising cash to be able to contribute to funding ongoing and future exploration work under the arrangement. However, given the current low stock price, it is evident that the company is also looking to minimize shareholder dilution by undertaking a minimum raise. 2018 work will look to continue to validate Prospero’s exploration strategy to discover blind epithermal systems.
About Oreinc.com:
Oreninc.com is North America’s leading provider of relevant financing information in the junior commodities space. Since 2011, the company has been keeping track of financings in the junior mining as well as oil and gas space. Logging all relevant deal and company information into its proprietary database, called the Oreninc Deal Log, Oreninc quickly became the go-to website in the mining financing space for investors, analysts, fund managers and company executives alike.
The Oreninc Deal Log keeps track of over 1,400 companies, bringing transparency to an otherwise impenetrable jungle of information. The goal is to increase the visibility of transactions and to show financings activity in a digestible format. Through its daily logging activities, Oreninc is in a position to pinpoint momentum changes in the markets, identify which commodities are trending and which projects are currently receiving funding.
Website: www.oreninc.com
Last week index score: 33.86
This week: 41.32
Zinc One Resources (TSXV:Z) announces the final drill results from the Bongarita mineralized zone at its Bongará zinc mine project in north-central Peru.
We recently uploaded 43 CEO Elevator pitches to our Youtube channel! We also uploaded two videos of Brent Cook of Exploration Insights walking the floor of PDAC talking rocks with Morgan Poliquin of Almadex Minerals and Kevin Heather of Regulus Resources – go check them out!
The Oreninc Index rose in the week ending April 13th, 2018 to 41.32 from 33.86 a week ago as brokered action returned to the market.
Market volatility experienced another twist as tensions in Syria notched up, this time due to an alleged chemical weapons attack by the ruling regime of Bashar al Assad on the rebel-held town of Douma and the promise of pending punitive action by US president Donald Trump who warned that “missiles will be coming” (that subsequently occurred in the early hours of Saturday morning).
As a result, there was safe haven precious metals buying.
On to the money: total fund raises announced almost fell by half to C$166.0 million, a three-week low, which included three brokered financings for C$12.2 million, a two-week high, and one bought deal financing for C$5.0 million, a four-week high. The average offer size dropped to C$2.4 million, a three-week low.
Another volatile week for gold which saw the yellow metal close up at US$1,346/oz from US$1,333/oz a week ago with a mid-week high of US$1,353/oz. Gold is now up 3.33% this year. Meanwhile, the US dollar index closed down at 89.80 from 90.10 a week ago. The van Eck managed GDXJ gained more than a dollar to close up at US$33.49 from US$32.39 last week. The index is down 1.88% so far in 2018. The US Global Go Gold ETF also saw strong growth to close up at US$12.81 from US$12.51 a week ago. It is down 1.54% so far in 2018. The HUI Arca Gold BUGS Index closed up at 184.32 from 177.59 last week. The SPDR GLD ETF continued to see buying action and closed up at 865.89 tonnes from 859.99 tonnes a week ago.
In other commodities, silver closed up at US$16.65/oz from US$16.38/oz a week ago. Copper showed a slight increase to close at US$3.07/lb from US$3.05/lb last week, a week that saw the CRU World Copper Conference in Santiago, Chile and various presenters talk about the shortage of new copper mine projects coming through. Oil saw strong gains to close up at US$67.39 a barrel from US$62.06 a barrel a week ago.
The Dow Jones Industrial Average closed up at 24,360 from 23,932 last week. Likewise, Canada’s S&P/TSX Composite Index grew to 15,273 from 15,207 the previous week. The S&P/TSX Venture Composite Index closed up at 795.94 from 769.15 last week.
Summary:
Financing Highlights
Maya Gold & Silver (TSXV: MYA) announced a non-brokered private placement of C$25.0 million through the issuance of 7.6 million shares @ C$3.30.
Major Financing Openings:
Major Financing Closings:
Company News
Zinc One Resources (TSX-V: Z) announces the final drill results from the Bongarita mineralized zone at its Bongará zinc mine project in north-central Peru.
Analysis
The drilling at Bongarita has confirmed that the amount of mineralized soils should be similar in size and grade to the historical resource. The company believes that drill data along with the previous pit and channel sampling data, will provide enough data to delineate a resource. Combined with the positive first results from Mina Chica, the Bongarita project is shaping up to have significant zinc potential from surface, which bodes well for the possibility of a mine being developed in the future.
The Oreninc Index fell in the week ending March 23rd, 2018 to 26.70 from an updated 52.33 a week ago as financings once again dried to a trickle.
The week was full of news that was generally positive for gold led by the US Federal Reserve’s latest monetary policy decision that confirmed the long-expected interest rate increase, but more importantly, the Fed indicated that it will only make three rate increases this year. Gold surged on this news, putting in one of its strongest weeks for nearly two years.
This news was compounded by action on the geopolitical front as US president Donald Trump announced a US$50-60 billion trade tariff package aimed squarely at China, causing fears that a trade would could result.
On to the money: total fund raises announced more than halved to C$33.7 million, a two-week low, which included one brokered financing for a paltry C$0.7m, an eleven-week low, and no bought-deal financings. The average offer size fell to C$1.5 million, a two-week low.
A strong week for gold saw the yellow metal close up at US$1,347/oz from US$1,314/oz a week ago. Gold is now up 3.42% this year. Meanwhile, the US dollar index closed down at 89.44 from 90.23 a week ago. The van Eck managed GDXJ also closed up at US$32.78 from US$31.41 last week. The index is down 3.96% so far in 2018. The US Global Go Gold ETF also jumped to close up at US$12.74 from US$12.44 from a week ago. It is down 2.11% so far in 2018. The HUI Arca Gold BUGS Index put in growth to close up at 176.86 from 171.16 last week. The SPDR GLD ETF continued to add ounces to close at 850.54 tonnes from 840.22 tonnes a week ago.
In other commodities, the silver rebounded and closed up at US$16.56/oz from US$16.33/oz a week ago. Copper bucked the positive metals trend with a negative week to close down at US$2.99/lb from US$3.10/lb last week. Meanwhile, oil put in a strong week and closed up at US$65.88 a barrel from US$62.34 a barrel a week ago.
The Dow Jones Industrial Average took a hit from president Trump’s China tariffs announcement, shedding more than 1,000 points to close down at 23,533 from 24,946 last week. Likewise, Canada’s S&P/TSX Composite Index took a nose dive to close down at 15,223 from 15,711 the previous week. The S&P/TSX Venture Composite Index also closed down at 817.80 from 833.67 last week.
Summary:
Financing Highlights
IDM Mining (TSX:IDM) opened a C$4.35 million non-brokered private placement offering on a best efforts basis.
Major Financing Openings:
Major Financing Closings:
About Oreinc.com:
Oreninc.com is North America’s leading provider of relevant financing information in the junior commodities space. Since 2011, the company has been keeping track of financings in the junior mining as well as oil and gas space. Logging all relevant deal and company information into its proprietary database, called the Oreninc Deal Log, Oreninc quickly became the go-to website in the mining financing space for investors, analysts, fund managers and company executives alike.
The Oreninc Deal Log keeps track of over 1,400 companies, bringing transparency to an otherwise impenetrable jungle of information. The goal is to increase the visibility of transactions and to show financings activity in a digestible format. Through its daily logging activities, Oreninc is in a position to pinpoint momentum changes in the markets, identify which commodities are trending and which projects are currently receiving funding.
Website: www.oreninc.com
ORENINC INDEX – Monday, March 19th 2018
Last week index score: 26.73
This week: 40.03
Prospero Silver (TSXV:PSL) discovered a new gold & silver-bearing epithermal vein system during a three-hole drill program at the Pachuca SE project in Hidalgo, Mexico.
Avrupa Minerals (TSXV:AVU) said its C$500,000 private placement financing is fully subscribed.
The Oreninc Index surged in the week ending March 16th, 2018, with the index increasing to 40.03 from 26.73 a week ago as financings, particularly brokered deals, began flowing again.
Despite strong fundamentals for precious and base metals, stocks continue to chart with insouciance. Certainly, cryptocurrencies and marijuana stocks have occupied some of the investor attention that would formerly have been doted on them.
A relatively quiet week on the geopolitical front, with a diplomatic spat arising between the UK and Russia over the poisoning of a former spy and his daughter in the UK. The UK has expelled Russian diplomats and Russia has returned the favour.
Gold experienced rolling punches throughout the week as rising inflation in the US could transpose into multiple interest rate rises throughout the year. The US CPI Index rose 0.2% in February following from a 0.5% increase in January, higher than expectations. Whilst a 25-basis point interest rate increase is widely expected at the Federal Reserve monetary policy meeting this week all ears will be on the tone of its comments about the potential for additional rises later this year.
On to the money: total fund raises announced increased to C$85.6 million, a two-week high, which included seven brokered financing for C$25.3m, a two-week high, and two bought-deal financings for C$15.7 million, a two-week low. The average offer size more than doubled to C$2.6 million, a two-week high.
A less volatile but deflationary week for gold saw the yellow metal close down at US$1,314/oz from US$1,323/oz a week ago. The van Eck managed GDXJ also closed down slightly at US$31.41 from US$31.72 last week. The index is down 7.97% so far in 2018. The US Global Go Gold ETF fared slightly better to close up on the week at US$12.44 from US$12.43 a week ago. It is down 4.37% so far in 2018. The HUI Arca Gold BUGS Index continued to fall and closed down at 171.16 from 172.92 last week. This index features 15 companies involved in gold mining and is an indication of how well gold companies perform relating to the gold price. The SPDR GLD ETF saw gains in the week to close at 840.22 tonnes from 833.73 tonnes a week ago.
In other commodities, the silver sell-off continued as it closed down at US$16.33/oz from US$16.58/oz a week ago. Copper also had a negative week and closed slightly down at US$3.10/lb from US$3.13/lb last week. Meanwhile, oil closed slightly up at US$62.34 a barrel from US$62.04 a barrel a week ago.
The Dow Jones Industrial Average pulled back in the week to close down at 24,946 from 25,335 last week. Conversely, Canada’s S&P/TSX Composite Index closed up at 15,711 from 15,577 the previous week. The S&P/TSX Venture Composite Index also put in gains and closed at 833.67 from 828.90 last week.
Summary:
Financing Highlights
International Tower Hill Mines (TSX:ITH) opened a C$15.6 million offering on a best efforts basis.
Major Financing Openings:
Major Financing Closings:
Company News
Prospero Silver (TSXV:PSL) discovered a new gold & silver-bearing epithermal vein system during a three-hole drill program at the Pachuca SE project in Hidalgo, Mexico.
Analysis
Prospero cut new vein systems within 25km of one of the world’s great silver-gold districts that produced over 1.2Boz of silver. Hitting multi-ounce and multi-gram silver and gold grades during scout drilling bodes well for future follow-up drilling on the 6-7km of linear, structurally-controlled alteration at surface on its concession. Following completion of the proof-of-concept drilling, Fortuna now has the option to enter into a JV on one of the targets tested.
Avrupa Minerals (TSXV:AVU) said its C$500,000 private placement financing is fully subscribed.
About Oreinc.com:
Oreninc.com is North America’s leading provider of relevant financing information in the junior commodities space. Since 2011, the company has been keeping track of financings in the junior mining as well as oil and gas space. Logging all relevant deal and company information into its proprietary database, called the Oreninc Deal Log, Oreninc quickly became the go-to website in the mining financing space for investors, analysts, fund managers and company executives alike.
The Oreninc Deal Log keeps track of over 1,400 companies, bringing transparency to an otherwise impenetrable jungle of information. The goal is to increase the visibility of transactions and to show financings activity in a digestible format. Through its daily logging activities, Oreninc is in a position to pinpoint momentum changes in the markets, identify which commodities are trending and which projects are currently receiving funding.
Website: www.oreninc.com
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