Oreninc Index Update: December 8, 2011

The Oreninc Index continues it highly volatile motions, although the five-week moving average has stayed relatively flat over the last six weeks.  This week saw a decrease in all factors across the board, but given the high level and quality of deal flow last week, this week’s stumble is not too rough.

·         Total number of opened deals fell to 52.

·         Opened brokered deals dipped slightly to 17.

·         Average brokered deal size more than halved, down to $4.7 million.

·         Bought deals announced decreased to five; average bought deal size dropped to $8.6 million.

·         Averaged opened deal size fell to a near three-month low of $2.4 million.

This week’s major private placement openings included:

·         Barkerville Gold Mines Ltd. (TSX-V:BGM) opened a $20 million private placement underwritten by a syndicate led by D&D Securities on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 18 months.

·         Sure Energy Inc. (TSX:SHR) opened an $18 million private placement underwritten by a syndicate led by Haywood Securities on a bought deal basis.  The deal is expected to close on or about December 23, 2011.

·         Delphi Energy Corp. (TSX:DEE) opened a $22.06 million private placement underwritten by a syndicate led by Stifel Nicolaus on a bought deal basis. The deal is expected to close on or about December 23, 2011.

·         Hemisphere Energy Corp. (TSX-V:HME) opened a $7.5 million private placement on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 24 months.

Major private placement closings:

·         Spartan Oil Corp. (TSX:STO) closed a $31.25 million private placement underwritten by a syndicate led by Clarus Securities on a bought deal basis.

·         Mercator Minerals Ltd. (TSX:ML) closed a $20 million private placement on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 36 months.

·         PolyMet Mining Corp. (TSX:POM) closed a $20 million private placement on a best efforts basis.    

·         Lumina Copper Corp. (TSX-V:LCC) closed a $30 million private placement on a best efforts basis.