February 2014

 

Financings Update

There appears to be a sense of optimism not seen for several months in the mining sector. Despite the warning of massive delistings in the sector,  it seems companies are successfully raising capital and getting back in the game. Name changes, share roll backs, acquisitions and hostile take overs have kicked the new year off with a running start. Uranium appeared to be a hot topic over the last month, and we are seeing some encouraging signs that equities are showing positive moves. Precious metals, specifically gold, still seem to be without fundamentals as tapering of QE hasn’t done much for the gold price as it remains below $1,300/oz.

During the month of January, we observed an increase in the size and amount of financings announced and successfully closed, especially bought deals. The Venture Radar posted 92 deals of which 38 successfully raised a combined approximate value of $230 million. Approximately 54 new deals opened during January, with a combined value totaling over $323 million. The largest financing successfully closed for the month came from HudBay Minerals for a total of $172.7 million at $8.25/share.

 

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Top 10 Closed Financings in January 2014

 

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