October 2013 Newsletter
During the month of September, we observed a slight increase in the number of financings announced and successfully closed in comparison to the previous 3 months. With less than $3 billion dollars raised YTD, 2013 is down considerably compared to the $10 billion dollars raised in the mining sector in 2012. As we enter the final quarter of the year, we expect to see a steady stream of drill results, exploration news and proposed financings. Knowing which companies have successfully raised capital in the previous months can be a good indicator of who to keep an eye on.
The Venture Radar provides information about TSX and TSX Venture mining companies who are opening, updating and successfully closing financings.
In September 2013, the Venture Radar posted over 100 deals of which 44 successfully raised a combined approximate value of $114 million, confirming there is capital available for projects with upside potential. Approximately 46 deals opened throughout September, with a combined value totaling over $225 million. The largest financing announced last month was by Ivanhoe Mines for a $108 million dollar non-brokered private placement.
To view more deals click here.