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 16, 2012
The Oreninc Index moving average is continuing its upswing from a low point in mid-January. This week one deal, which is not included in the index due to size but reflects strong overall market health, is Crescent Point Energy’s $525 million bought deal.
- Total number of opened deals fell slightly to 45 but remains above the 20-week average.
- The number of opened brokered deals dropped to 12 but is almost double the 10-week average.
- Bought deals decreased to one.
- Total money opened dropped from last week’s year-to-date high of $380 million to $130 million.
This week’s major private placement openings included:
- Crescent Point Energy Corp. (TSX:CPG) opened a $525 million private placement underwritten by a syndicate led by BMO Capital on a bought deal basis. The deal is expected to close on or about March 8, 2012.
- Madalena Ventures Inc. (TSX-V:MVN) opened a $50 million private placement underwritten by a syndicate led by Casimir Capital on a bought deal basis. The deal is expected to close on or about March 7, 2012.
- Shoreline Energy Corporation (TSX:SEQ) opened a $12 million private placement underwritten by a syndicate led by Macquarie Capital Markets Canada Ltd. on a best efforts basis. The deal is expected to close on or about February 28, 2012.
- Amarc Resources Ltd. (TSX-V:AHR) opened a $10 million private placement on a best efforts basis. The deal is expected to close on or about February 27, 2012.
- Major private placement closings:
- Northland Resources S.A. (TSX:NAU) closed a $326.1 million private placement underwritten by a syndicate led by Pareto Securities AS on a best efforts basis.
- Detour Gold Corporation (TSX:DGC) closed a $276.9 million private placement underwritten by a syndicate led by BMO Capital on a bought deal basis.
- Xcite Energy Ltd. (TSX-V:XEL) closed a $40.6 million private placement on a best efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.
- Midas Gold Corp. (TSX:MAX) closed a $40.4 million private placement underwritten by a syndicate led by Haywood Securities on a bought deal basis.
Original Link: http://oreninc.com/orenthink/20120221-oreninc-index-update
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