June 2013 Newsletter
During the months of April and May the market witnessed massive volatility in the price of gold. The S&P/TSX Composite index is hovering around 12,600 while the S&P/TSX Venture Composite Index remains flat at 965. With the Dow Jones breaking new highs we are hopeful a bottom in the resource sector will be in the near future and investors will see an opportune time to snap up shares in good companies with strong cash positions.
The Venture Radar provides information about TSX and TSX Venture mining companies who are opening, updating and successfully closing financings.
In May, 2013 the Venture Radar posted over 80 deals, 25 of which successfully raised a combined approximate value of $225 million. This is a good sign that the smart money is supporting the sector and there is capital available for good projects with upside potential. Currently, there are approximately 57 deals open in May with a combined value of over $279 million.
Top 10 Closed Financings in May 2013
|Probe Mines Ltd.||$15.0m||May 28, 2013|
|Denison Mines Corp.||$15.0m||May 28, 2013|
|Cap-Ex Iron Ore Ltd.||$2.1m||May 24, 2013|
|Pacific Potash Corp.||$2.0m||May 23, 2013|
|Maudore Minerals Ltd.||$15.5m||May 22, 2013|
|Allied Nevada Gold Corp.||$150.5m||May 17, 2013|
|Helio Resource Corp.||$1.8m||May 16, 2013|
|Curis Resources Ltd.||$6.0m||May 14, 2013|
|Tinka Resources Ltd.||$2.6m||May 14, 2013|
|Thor Explorations Ltd.||$1.6m||May 01, 2013|