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The Oreninc Index is up ever so slightly compared to last week. However, the index remains on the climb after the summer doldrums. Deal volume is down from last week, but broker participation is up substantially in terms of total dollars raised and percent of dollars raised by brokers.  The five-week moving average continues its climb, and two slower weeks do not change our predictions of a strengthening in Q4.

·         Total number of opened deals fell to 32, a four-week low.

·         Opened brokered deals fell to 10, down from 13 but still above the eight-week average.

·         Average brokered deal size almost tripled to $12.8 million.

·         Bought deals announced dropped to four; average deal size jumped to $23.3 million.

·         Averaged opened deal size increased to $5.5 million. 

The main drivers of the suppressed market over the last two weeks have been continuing concerns about the viability of the European bailout plan and questions regarding global economic growth rates over the next 18-24 months. However, we continue to see large deals, bought deals, and brokers out looking for money.

This week’s major private placement openings included:

·         Sulliden Gold Corporation (TSX:SUE) opened a $75 million private placement underwritten by a syndicate led by National Bank Financial on a bought deal basis.  The deal is expected to close on or about November 29, 2011.

·         Trevali Resources Corp. (TSX:TV) opened a $30.07 million private placement underwritten by a syndicate led by Raymond James on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 24 months, and the deal is expected to close on or about November 10, 2011.

·         Roxgold Inc. (TSX-V:ROG) opened an $11 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 16, 2011.

·         Wesgold Minerals Inc. (TSX-V:WSG) opened a $10 million private placement on a best efforts basis. Each unit includes a 1/2 warrant that expires in 12 months.

Major private placement closings:

·         Perseus Mining Ltd. (TSX:PRU) closed an $81.25 million private placement underwritten by a syndicate led by Clarus Securities on a bought deal basis. 

·         NGEx Resources Inc. (TSX:NGQ) closed a $27 million private placement on a best efforts basis.     

·         Premier Gold Mines Limited (TSX:PG) closed a $33.43 million private placement underwritten by a syndicate led by RBC Capital Markets on a bought deal basis.

·         ANDINA Minerals Inc. (TSX-V:ADM) closed a $15 million private placement on a best efforts basis. Each unit includes a 1/2 warrant that expires in 12 months.

Original Link: http://oreninc.com/orenthink/20111103-oreninc-index-update