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Oreninc Index Update: April 12, 2012

Last updated: 09:18 19 Apr 2012 BST, First published: 13:18 19 Apr 2012 BST

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The Oreninc Index rose for the week ending April 12.  While no bought deals were announced, broker participation increased. An interesting data point is only eight offerings closed, the fewest in a one-week period in 2012 so far. While not entirely surprising due to the state of the market since mid-March, the number is still very low.

 

  • Total number of opened deals moved up to 30.
  • Number of opened brokered deals remained at four; average brokered deal size increased from $5 million to $18 million.
  • No bought deals were announced for the third time in four weeks.
  • Total money raised increased to $119 million, with the average deal size increasing to $4 million.

This week’s major private placement openings included:

  • North American Palladium Ltd.  (TSX:PDL) opened a $35 million private placement underwritten by a syndicate led by Scotia Capital on a best efforts basis.  The deal is expected to close on or about April 30, 2012.
  • Pacific Wildcat Resources Corp. (TSX-V:PAW) opened a $25 million private placement underwritten by a syndicate led by GMP Securities on a best efforts basis.  Each unit includes 1 warrant that expires in 36 months.
  • Guyana Goldfields Inc. (TSX:GUY) opened a $24.4 million private placement on a best efforts basis.  The deal is expected to close on or about April 24, 2012.
  • Charlotte Resources Ltd. (CNSX:CHT) opened a $9 million private placement underwritten by a syndicate led by Canaccord Genuity on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 36 months.
  • Major private placement closings:
  • Iona Energy Inc. (TSX-V:INA) closed a $92 million private placement underwritten by a syndicate led by Casimir Capital on a best efforts basis.
  • Lago Dourado Minerals Ltd. (TSX-V:LDM) closed a $10.1 million private placement on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 18 months.
  • Gale Force Petroleum Inc. (TSX-V:GFP) closed a $4.2 million private placement on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 12 months.
  • GeoMegA Resources (TSX-V:GMA) closed a $3.5 million private placement underwritten by a syndicate led by Industrial Alliance Securities on a best efforts basis.

 

Original Link: https://oreninc.com/orenthink/20120418-oreninc-index-update

 

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