Oreninc publishes the Oreninc Deal Log, the central source for resource financing activity on the TSX and TSX-V. Oreninc offers a free daily email subscription and a filterable web interface. Oreninc writes about market issues on its blog Orenthink and publishes the Canadian Resource Financing Index to monitor the strength of the financing market.
Oreninc Index Update: February 9, 2012
After a few down weeks to start off the New Year, the Oreninc Index popped up sharply this week with year-to-date highs in opened deals, opened brokered deals, opened bought deals, and total money announced. Brokers have wandered back from hibernation and begun raising money for natural resource development.
- Total number of opened deals jumped to 50, the largest number of openings in a given week so far this year.
- Opened brokered deals more than tripled to 16, with an average brokered deal size of $13.9 million.
- Bought deals moved to six, with an average bought deal size of $30 million.
- Total money opened stood at $380.5 million, the highest since October.
This week’s major private placement openings included:
- Rubicon Minerals Corporation (TSX:RMX) opened a $200.90 million private placement underwritten by a syndicate led by GMP Securities on a bought deal basis. The deal is expected to close on or about February 29, 2012.
- Freehold Royalties Ltd. (TSX:FRU) opened a $61.50 million private placement on a bought deal basis. The deal is expected to close on or about February 29, 2012.
- Premier Gold Mines Limited (TSX:PG) opened a $51.75 million private placement underwritten by a syndicate led by RBC Capital Markets on a best efforts basis. The deal is expected to close on or about February 27, 2012.
- Americas Petrogas Inc. (TSX-V:BOE) opened a $58.96 million private placement underwritten by a syndicate led by TD Securities on a bought deal basis. The deal is expected to close on or about February 22, 2012.
- Major private placement closings:
- Enerplus Corporation (TSX:ERF) closed a $345 million private placement underwritten by a syndicate led by RBC Capital Markets on a bought deal basis.
- NovaGold Resources Inc. (TSX:NG) closed a $332.50 million private placement underwritten by a syndicate led by RBC Capital Markets on a bought deal basis.
- Hana Mining Ltd. (TSX-V:HMG) closed a $14.92 million private placement on a best efforts basis.
- U3O8 Corp. (TSX-V:UWE) closed an $11.52 million private placement underwritten by a syndicate led by Dundee Securities Ltd. on a bought deal basis.
Original Link: http://oreninc.com/orenthink/20120213-oreninc-index-update
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