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:

  • Number of financings decreased to 25, a two-week low.
  • One brokered financing was announced this week for C$8.0m, a one-week high.
  • No bought-deal financings were announced this week, a one-week low.
  • Total dollars nearly halved to C$50.8, a two-week low.
  • Average offer size dropped to C$2.0m, an eleven-week low.

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.

  • Syndicate including Canaccord Genuity and Desjardins Securities.
  • Each unit comprised of one share and half a warrant exercisable @ C$0.40 for two years.
  • Net proceeds for capital allocations related to Nouveau Monde’s graphite demonstration plant in Saint-Michel-des-Saints.

Major Financing Openings:

  • Nouveau Monde Graphite (TSX-V: NOU) opened a C$ 8 million offering underwritten by a syndicate led by Eight Capital on a best effortsbasis. Each unit includes half a warrant that expires in 24 months.
  • MGX Minerals (CSE: XMG) opened a C$ 7.01 million offering on a best efforts basis. Each unit includes a warrant that expires in 36 months. The deal is expected to close on or about June 18th.
  • GoviEx Uranium (TSX-V: GXU) opened a C$ 6.06 million offering on a best efforts basis. Each unit includes a warrant that expires in 36 months.
  • Golden Dawn Minerals (TSX-V: GOM) opened a C$ 5.4 million offering on a best efforts basis. Each unit includes a warrant that expires in 36 months.

Major Financing Closings:

  • Troilus Gold (TSX-V: TLG) closed a C$ 10.01 million offering underwritten by a syndicate led by GMP Securities on a bought deal basis.
  • Almaden Minerals (TSX: AMM) closed a C$ 9.44 million offering underwritten by a syndicate led by Sprott Capital Partners on a best efforts basis. Each unit included half a warrant that expires in 48 months.
  • GoviEx Uranium (CSE: GXU) closed a C$ 6.06 million offering on a best efforts basis. Each unit included a warrant that expires in 36 months.
  • Troilus Gold (TSX-V: TLG) closed a C$ 5.75 million offering on a best efforts basis.

 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.

  • High-grade zinc mineralization is about 200m long and 120m wide.
  • Highlights included 21m @ 27.5% Zn in hole MCH-18-041.

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:

 

  • Number of financings crumbled to 13, an eleven-week low.
  • Two brokered financings were announced this week for C$10.8m, a two-week low.
  • One bought-deal financing was announced this week for C$7.0m, a two-week low.
  • Total dollars plunged to C$38.8m, an eleven-week low.
  • Average offer size dropped to C$2.9m, a three-week low.

Financing Highlights

Probe Metals (TSX-V: PRB) opened a C$14 million financing.

  • Bought deal with Sprott Capital Partners and a syndicate of underwriters
  • Flow through units @ C$1.90 and non flow-through units @ C$1.15
  • Each unit consists of one share and half a warrant exerciseable @ C$1.45 for two years.
  • Underwriters option to purchase C$2.1 million in units.
  • Gross proceeds will fund exploration on Probe’s projects in Québec.
  • Closing is expected on June 19th.

Major Financing Openings:

  • Great Bear Resources (TSX-V: GBR) opened a C$7.83 million offering on a best efforts basis. Each unit includes half a warrant that expires in 24 months.
  • Probe Metals (TSX-V: PRB) opened a C$7 million offering underwritten by a syndicate led by Sprott Capital Partners on a bought deal basis. Each unit includes half a warrant that expires in 24 months. The deal is expected to close on or about June 19th.
  • Probe Metals (TSX-V: PRB) opened a C$7 million offering on a best efforts basis.    The deal is expected to close on or about June 19th.
  • Para Resources (TSX-V: PBR) opened a C$6.4 million offering on a best efforts basis. Each unit includes a warrant that expires in 36 months.

Major Financing Closings:

  • SRG Graphite (TSX-V: SRG) closed a C$8 million offering underwritten by a syndicate led by National Bank Financial on a best efforts basis. Each unit included a warrant that expires in 12 months.
  • Wealth Minerals (TSX-V: WML) closed a C$6.25 million offering on a best efforts basis. Each unit included half a warrant that expires in 24 months.
  • Zinc One Resources (TSX-V: Z) closed a C$3.89 million offering on a best efforts basis. Each unit included half a warrant that expires in 36 months.
  • Alexandra Capital (TSX-V: AXC) closed a C$2.6 million offering on a best efforts basis.

 

 

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:

  • Number of financings grew to 23, a two-week high.
  • Five brokered financings were announced this week for C$50.5m, a nine-week high.
  • Two bought-deal financings were announced this week for C$20.0m, a one-week high.
  • Total dollars decreased to C$81.7m, a two-week low.
  • Average offer size tumbled to C$3.5m, a two-week low.

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.

  • RCF VI will be issued 50 million warrants exercisable @ C$0.25 until December 31st 2018.
  • The proceeds will be used to repay a US$10 million bridge loan advanced by RCF VI and the ongoing development of the Prairie Creek Zn-Pb-Ag project in Northwest Territories, Canada.

Major Financing Openings:

  • Canadian Zinc (TSX: CZN) opened a C$20 million offering underwritten by a syndicate led by Resource Capital Fund VI on a best efforts basis. Each unit includes half a warrant that expires in seven months.
  • Troilus Gold (TSX-V: TLG) opened a C$10.01 million offering underwritten by a syndicate led by GMP Securities on a bought deal basis. The deal is expected to close on or about June 5th.
  • Rio2 (TSX-V: RIO) opened a C$10 million offering underwritten by a syndicate led by Clarus Securities on a bought deal basis. The deal is expected to close on or about June 7th.
  • Troilus Gold (TSX-V: TLG) opened a C$7.01 million offering on a best efforts basis. The deal is expected to close on or about June 5th.

Major Financing Closings:

  • West African Resources (TSX-V: WAF) closed a C$34.3 million offering on a best efforts basis.  
  • Silvercrest Metals (TSX-V: SIL) closed a C$17.25 million offering underwritten by a syndicate led by PI Financial on a bought deal basis.    
  • South Star Mining (TSX-V: STS) closed a C$4.19 million offering underwritten by a syndicate led by Echelon Wealth Partners on a best efforts basis. Each unit included a warrant that expires in 24 months.
  • Renaissance Gold (TSX-V: REN) closed a C$3.12 million offering on a best efforts basis.

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:

  • Number of financings declined to 19, a nine-week low.
  • No brokered financings were announced this week, a five-week low.
  • No bought-deal financings were announced this week, a five-week low.
  • Total dollars fell to $56.5m, a seven-week low.
  • Average offer size grew to $2.9m, a two-week high.

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.

  • West African will issue 109.4 million shares @ A$0.32.
  • The company anticipates completing a revised feasibility study by the end of the second quarter.

Major Financing Openings:

  • West African Resources (TSX-V:WAF) opened a $34.3 million offering on a best efforts basis.
  • Wealth Minerals (TSX-V: WML) opened a $5 million offering on a best efforts basis. Each unit includes half a warrant that expires in 24 months.
  • Aton Resources (TSX-V: AAN) opened a $3 million offering on a best efforts basis. Each unit includes half a warrant that expires in 60 months. The deal is expected to close on or about May 15th.
  • ATAC Resources (TSX-V: ATC) opened a $3 million offering on a best efforts basis.    

Major Financing Closings:

  • Africa Energy (TSX-V: AFE) closed a $57.98 million offering underwritten by a syndicate led by Pareto Securities on a best efforts basis.
  • Seabridge Gold (TSX: SEA) closed a $19.73 million offering on a best efforts basis.
  • Garibaldi Resources (TSX-V: GGI) closed a $13.05 million offering on a best efforts basis.    
  • Pacton Gold (TSX-V: PAC) closed a $5.55 million offering underwritten by a syndicate led by Sprott Capital Partners on a best efforts basis.

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.

  • Repricing and exercise of Fortuna’s 5.4 million warrants to provide C$803,571 additional funding for drilling.
  • 6,000m drill program to test three additional targets: Buenavista, Bermudez and Trias.
  • November 30th deadline agreed for Fortuna to exercise its option rights to select up to two Prospero projects for option to joint venture agreements.

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.

  • An initial 15,000 feet of drilling or 12 holes. Results will determine the second stage of drilling.
  • 2018 drilling and field exploration budget of C$5.0 million with emphasis on discovery of new, additional gold zones.

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.

  • Highlights included 8.2m @ 42.7% Zn.
  • 81 drill holes for 1,811m drilled to date.

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:

  • Number of financings decreased to 20, a three-week low.
  • One brokered financing was announced this week for C$15m a three-week low.
  • One bought-deal financing was announced this week for C$15m, a three-week low.
  • Total dollars nearly doubled to C$96.3m, a three-week high.
  • Average offer size grew to C$4.8m, a three-week high.

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.

  • 15% over-allotment Option.
  • Net proceeds will be used to continue exploration and drilling to deliver an updated resource estimate and maiden Preliminary Economic Assessment for the Las Chispas project in Sonora. Mexico.

Major Financing Openings:

  • Africa Energy (TSX-V: AFE) opened a C$57.98 million offering on a best efforts basis. The deal is expected to close on or about May 4, 2018.
  • Silvercrest Metals (TSX-V: SIL) opened a C$15 million offering underwritten by a syndicate led by PI Financial on a bought deal basis. The deal is expected to close on or about May 18, 2018.
  • Pacton Gold (TSX-V: PAC) opened a C$4 million offering on a best efforts basis.  Each unit includes a warrant that expires in 36 months. The deal is expected to close on or about May 22, 2018.
  • Max Resource (TSX-V: MXR) opened a C$3.75 million offering on a best efforts basis. Each unit includes half a warrant that expires in 24 months.

Major Financing Closings:

  • Nemaska Lithium (TSX-V: NMX) closed a C$99.08 million offering on a best efforts basis.
  • Trilogy Metals (TSX-V: TMQ) closed a C$31.48 million offering underwritten by a syndicate led by Cantor Fitzgerald Canada on a bought deal basis.  
  • Stina Resources (TSX-V: SQA) closed a C$12.5 million offering on a best efforts basis. Each unit included half a warrant that expires in 36 months.  
  • Ashanti Gold (TSX-V: AGZ) closed a C$2.64 million offering on a best efforts basis.

Company News

Prospero Silver (TSX-V: PSL) provide an update on planned exploration work on its Mexican projects for 2018.

  • The key objective is to complete first-pass, proof-of-concept drill testing of three projects in the Altiplano belt of northern Mexico: Bermudez, Buenavista and Trias. Neither Trias or Bermudez have been drilled before.
  • About 6,000m of diamond drilling is planned.
  • A 4th hole for Pachuca SE project may be drilled once drilling is complete at the projects above.

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:

  • Number of financings decreased to 20, a two-week low.
  • No brokered financings were announced this week, a two-week low.
  • No bought-deal financing was announced this week, a two-week low.
  • Total dollars tumbled to C$22.6m, a six-week low.
  • Average offer size also fell to C$1.1m, a six-week low.

 

Financing Highlights

EnGold Mines (TSX-V: EGM) opened a C$3.5 million offering on best efforts basis.

  • 10.0 million flow-through units @ C$0.30 and 2.0 million non-flow-through units @ C$0.26 with Canaccord Genuity as agent.
  • Each flow-through unit consists of one share and one warrant exercisable @ C$0.40 for two years. Each common unit consists of one share and one warrant exercisable @ C$0.35 for two years.
  • Over-allotment option of up 1.5 million flow-through units and 300k common units on the same terms.
  • Gross proceeds will be used to continue exploration at the Lac La Hache copper, gold & silver property in the Cariboo region of BC, Canada.

Major Financing Openings:

  • Engold Mines (TSX-V: EGM) opened a C$7.04 million offering on a best efforts basis. Each unit includes a warrant that expires in 24 months. The deal is expected to close on or about May 14th.
  • Vela Minerals (TSX-V: VLA) opened a C$2.5 million offering on a best efforts basis.    
  • Renaissance Gold (TSX-V: REN) opened a C$2.5 million offering on a best efforts basis.  Each unit includes a warrant that expires in 60 months.
  • Coronet Metals (TSX-V: CRF) opened a C$2.02 million offering on a best efforts basis. Each unit includes a warrant that expires in 24 months.

Major Financing Closings:

  • North American Nickel (TSX-V: NAN) closed a C$15 million offering on a best efforts basis. Each unit included half a warrant that expires in 24 months.
  • Sama Resources (TSX-V: SME) closed a C$5.25 million offering on a strategic deal basis. Each unit included a warrant that expires in 24 months.
  • Rise Gold (CSE: RISE) closed a C$3.52 million offering on a best efforts basis.  Each unit included a warrant that expires in 36 months.
  • Toachi Mining (TSX-V: TIM) closed a C$3 million offering on a best efforts basis.  

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.

  • Each unit will consist of one share and half of a warrant exercisable @ C$0.16 for two years.
  • The net proceeds will be used for general working capital purposes, its generative exploration programs and exploration expenditures on its property portfolio in Mexico.
  • Looking to drill 6,000m in 2018.

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:

 

  • Number of financings increased to 28, a four-week high.
  • Three brokered financings were announced this week for C$12.2m, a two-week high.
  • One bought-deal financing was announced this week for C$5.0m, a four-week high.
  • Total dollars dropped to C$66.0m, a three-week low.
  • Average offer size also dropped to C$2.4m, a three-week low.

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.

  • No warrants will be issued.
  • The net proceeds will be used to continue the development and expansion of the Zgounder silver mine in Morocco. Maya plans to begin building a second mine at Zgounder that will increase production capacity to 2,000 tpd by 2021.

Major Financing Openings:

  • Maya Gold & Silver (TSX-V: MYA) opened a C$25-million offering on a best efforts basis. The deal is expected to close on or about April 13th.
  • Critical Elements (TSX-V: CRE) opened a C$5-million offering underwritten by a syndicate led by Canaccord Genuity on a bought deal basis. Each unit includes half a warrant that expires in 24 months. The deal is expected to close on or about May 1st.
  • Avino Silver & Gold Mines (TSX: ASM) opened a C$5-million offering underwritten by a syndicate led by Fitzgerald Canada on a best efforts basis.    The deal is expected to close on or about April 27th.
  • Noront Resources (TSX-V: NOT) opened a C$4.2-million offering on a best efforts basis.   

Major Financing Closings:

  • Orezone Gold (TSX: ORE) closed a C$44.92-million offering on a best efforts basis.  
  • Amarillo Gold (TSX-V: AGC) closed a C$5.16-million offering on a best efforts basis. Each unit included half a warrant that expires in 24 months.
  • Aguia Resources (TSX-V: AGRL) closed a C$5-million offering underwritten by a syndicate led by Echelon Wealth Partners on a bought deal basis.  Each unit included half a warrant that expires in 36 months.
  • Noront Resources (TSX-V: NOT) closed a C$4.2-million offering on a best efforts basis.

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.

  • 36 holes for 583m were drilled at Bongarita. Very fine-grained zinc mineralization, mostly as silicates exclusively hosted by soils, has been delineated over about 7,500m2.
  • Two portable rigs continue to drill at Mina Chica and Mina Grande Sur.
  • Highlights included 2.4m @ 42.8% Zn
  • Zinc One also announced its first ever drill results that confirmed a high-grade zinc mineralized zone at Mina Chica, about 200m east of Bongarita.
  • Highlights included 16.5m @ 35.6% Zn.

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:

  • Number of financings dropped to 23, a two-week low.
  • One brokered financing was announced this week for $0.7m, a eleven-week low.
  • No bought-deal financings were announced this week, a two-week low.
  • Total dollars fell to $33.7m, a two-week low.
  • Average offer size also fell to $1.5m, a two-week low.

Financing Highlights

IDM Mining (TSX:IDM) opened a C$4.35 million non-brokered private placement offering on a best efforts basis.

  • 54.4 million units comprising flow-through units @ C$0.09 and non-flow-through units @ C$0.08
  • Each unit will consist of one share and a quarter warrant exerciseable @ C$0.12 for two years.
  • Net proceeds will go towards permitting, community relations, First Nation engagement, engineering and development activities of the Red Mountain gold project near Stewart, BC, Canada.

Major Financing Openings:

  • IDM Mining (TSX:IDM) opened a C$4.35 million offering on a best efforts basis. Each unit includes half a warrant that expires in 24 months.
  • Golden Harp Resources (TSXV:GHR.H) opened a C$4 million offering on a best efforts basis.
  • Maple Gold Mines (TSXV:MGM) opened a C$3.8 million offering on a best efforts basis. The deal is expected to close on or about March 28th.
  • Velocity Minerals (TSXV:VLC.H) opened a C$3.5 million offering on a best efforts basis. Each unit includes half a warrant that expires in 12 months.

Major Financing Closings:

  • GT Gold (TSXV:GT) closed a C$6.52 million offering on a best efforts basis.
  • Ascot Resources (TSXV:AOT) closed a C$6.5 million offering underwritten by a syndicate led by Sprott Capital Partners on a best efforts basis.
  • Sarama Resources (TSXV:SWA) closed a C$4 million offering underwritten by a syndicate led by Arlington Group Asset Management on a best efforts basis.  
  • VR Resources (TSXV:VRR) closed a C$2 million offering on a best efforts basis.  

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:

 

  • Number of financings tripled to 33, a six-week high.
  • Seven brokered financings were announced this week for C$25.3m, a two-week high.
  • Two bought-deal financings were announced this week for C$15.7m, a two-week high.
  • Total dollars shot up to C$85.6m, a two-week high.
  • Average offer size more than doubled to C$2.6m, a two-week high.

Financing Highlights

International Tower Hill Mines (TSX:ITH) opened a C$15.6 million offering on a best efforts basis.

  • Non-brokered private placement of 24.0 million shares @ US $0.50 per share for aggregate gross proceeds of US$12 million (C$15.6 million).
  • Proceeds to be used for the continuation of optimization studies in efforts to further improve and de-risk the Livengood gold project, required environmental baseline studies and general working capital purposes.
  • New strategic investor Electrum Strategic Opportunities Fund acquired 19.9 million shares (10.7%). Paulson & Co acquired 4.1 million shares to increase its ownership to 32.0%.

Major Financing Openings:

  • International Tower Hill Mines (TSX:ITH) opened a C$15.6 million offering on a best efforts basis.
  • Auryn Resources (TSXV:AUG) opened a C$8.76 million offering underwritten by a syndicate led by Cantor Fitzgerald Canada on a bought deal basis. The deal is expected to close on or about March 23rd.
  • Tinka Resources (TSXV:TK) opened a C$7.01 million offering underwritten by a syndicate led by GMP Securities on a bought deal basis. Each unit includes half a warrant that expires in 12 months. The deal is expected to close on or about April 4th.
  • Tinka Resources (TSXV:TK) opened a C$6 million offering on a best efforts basis.

Major Financing Closings:

  • Millennial Lithium (TSXV:ML) closed a C$24.15 million offering underwritten by a syndicate led by Canaccord Genuity on a bought deal basis. Each unit included half a warrant that expires in 24 months.
  • International Tower Hill Mines (TSX:ITH) closed a C$15.6 million offering on a best efforts basis.
  • Millennial Lithium (TSXV:ML) closed a C$6.38 million offering on a strategic deal basis. Each unit included half a warrant that expires in 24 months.
  • Stina Resources (TSXV:SQA) closed a C$3 million offering on a best efforts basis.

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.

  • An 1,800m drill program tested three targets with deep, angled holes with intercepts including 1.35m @ 227Ag demonstrating that the negligible Ag and Au anomalies we noted in the surface alteration are related to a potentially significant epithermal vein system at depth.
  • The Pachuca drilling completes proof of concept drilling of three initial targets funded by Fortuna Silver (TSX:FVI).

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.

  • 6.25 million units @ C0.08. Each unit is comprised of one share and a warrant exercisable @ C$0.12 for two years.
  • Proceeds will be used for working capital and exploration in Portugal and Kosovo.

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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