August 2013 Newsletter
During the month of July, we continued to see downward pressure applied to the junior mining sector. Companies with proven management teams and cash reserves are in an envious position as we’re starting to see an increase in M&A activity. The Venture Exchange (TSX.V) climbed over the 900 level mid month and is now showing continuous upward momentum. Could this be the turning point that patient investors have been waiting for? A large majority of mining exploration stocks are hovering around their 52 week lows and it’s times like these that can present very lucrative opportunities for savvy investors who have been keeping an eye on the sector.
The Venture Radar provides information about TSX and TSX Venture mining companies who are opening, updating and successfully closing financings.
In July 2013, the Venture Radar posted over 85 new financing deals, 35 of which have successfully raised a combined approximate value of $47 million dollars. The largest financing for the month was a $9.8 million dollar non-brokered private placement with Midas Gold through Teck Resources at $0.77/share. There are approximately 50 deals currently open in July with a combined total value of over $95 million dollars.
Top 10 Closed Financings in July 2013
|Quest Rare Minerals Ltd.||$2.7m||July 25, 2013|
|Callinex Mines Inc.||$1.4m||July 25, 2013|
|International Northair Mines Ltd.||$1.8m||July 24, 2013|
|Polar Star Mining Corp.||$3.1m||July 23, 2013|
|Donner Metals Ltd.||$2.8m||July 18, 2013|
|Almaden Minerals Ltd.||$5.5m||July 17, 2013|
|Colorado Resources Ltd.||$4.0m||July 11, 2013|
|Kaminak Gold Corp.||$5.2m||July 09, 2013|
|Midas Gold Corp.||$9.8m||July 04, 2013|
|Geologix Explorations Inc.||$1.0m||July 03, 2013|