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The Oreninc Index is up on a shortened Thanksgiving week.  A number of deals over $20 million opened, and we saw strong broker support. More companies are raising money, and investors are finding the courage to add some risk to their portfolios. A number of economic indicators released this week have pointed to shaky ground, but they’ve been better than previous reports pointing to the sky falling.

·         Total number of opened deals climbed to 32, the most in one week since July.

·         Opened brokered deals remained at five.

·         Average brokered deal size increased to $15.5 million, over 2.5 times higher than last week.

·         Three companies announced bought deals this week. Additionally Perseus Mining Ltd. (TSX:PRU) announced an $81.25 million bought deal, but it is not included in index calculations because of market cap size.

·         Averaged opened deal size shifted up to $6.7 million, a three-week high and two times last week’s average.

The market remains highly volatile, but the index’s five-week moving average has begun to climb over the last five weeks after being on steady decline since March. The recent growth is likely driven by the beginning of fundraising season, and it a good sign for the overall market, including junior resource companies, investors looking to get in on the action, and brokers wanting a nice year-end bonus.

This week’s major private placement openings included:

·         Perseus Mining Ltd. (TSX:PRU) opened an $81.25 million private placement underwritten by a syndicate led by Clarus Securities on a bought deal basis. The deal is expected to close on or about November 2, 2011.

·         Monument Mining Limited (TSX-V:MMY) opened a $70 million private placement on a best efforts basis. Each unit includes 1 warrant that expires in 36 months.

·         Carpathian Gold Inc. (TSX:CPN) opened a $40 million private placement underwritten by a syndicate led by Cormark Securities on a bought deal basis. The deal is expected to close on or about November 3, 2011.

·         Premier Gold Mines Limited (TSX:PG) opened a $30.5 million private placement underwritten by a syndicate led by RBC Capital Markets on a bought deal basis. The deal includes both flow-through and non-flow through shares and is expected to close on or about October 31, 2011.

Major private placement closings:

·         Surge Energy Inc. (TSX-V:SGY) closed a $60 million private placement underwritten by a syndicate led by National Bank Financial on a bought deal basis.

·         Arcan Resources Ltd. (TSX-V:ARN) closed a $50.14 million private placement underwritten by RBC Capital Markets on a bought deal basis.

·         RMP Energy Inc. (TSX:RMP) closed a $25.06 million private placement underwritten by a syndicate led by GMP Securities on a bought deal basis. The issuance included flow-through and non-flow-through shares.

·         Kokanee Minerals Inc. (TSX-V:KOK) closed a $7.5 million private placement on a best efforts basis. Each unit includes 1 warrant that expires in 12 months.

Original Link: http://oreninc.com/orenthink/20111013-oreninc-index-update