ORENINC INDEX - Monday, July 22nd 2019

North America’s leading junior mining finance data provider

Sign up for our free newsletter at www.oreninc.com

Last week index score: 63.93 (updated)

This week: 24.37


Silver Spruce Resources (TSXV:SSE) signed a binding letter of agreement to acquire the Cocula advanced gold project in Jalisco, Mexico.

Silver Spruce Resources (TSXV:SSE) receives Pino de Plata investment.


The Oreninc Index fell in the week ending July 19th, 2019 to 24.37 from an updated 63.93 a week ago despite precious metals prices breaking out.

Precious metals finally seemed to break out with both gold and silver trading at multi-month highs after billionaire generalist hedge fund manager Ray Dalio advised his clients to have gold in their portfolios.

On the geopolitical front, tensions in the Persian Gulf continue to increase after two oil tankers were intercepted by Iranian forces with US secretary of defense John Bolton increasingly pressing for military intervention against the Middle East nation.

On to the money: total fund raises fell back to C$37.7 million, a two-week low, which included one brokered financing for $6.0m, a five-week low and two bought-deal financings for $16.0m, a two-week low. The average offer size fell to $2.5 million, a two-week low, while the number of financings halved to 15.

Gold’s strength surfaced again as it closed up at US$1,415/oz from US$1,399/oz a week ago. The yellow metal is up 10.39% so far this year. The US dollar index showed weakness as it closed down up at 96.81 from 97.28 last week. The Van Eck managed GDXJ grew it closed up at US$35.81 from US$34.65 a week ago. The index is now up 18.50% so far in 2019. The US Global Go Gold ETF also closed up at US$14.65 from US$14.08 as a week ago. It is up 28.40% so far in 2019. The HUI Arca Gold BUGS Index closed up at 200.67 from 193.01 last week. The SPDR GLD ETF closed at more than 800 tonnes as it closed up at 800.54 tonnes from 796.97 tonnes a week ago.

In other commodities, silver closed up at US$15.22/oz from US$15.00/oz a week ago. Copper added a few cents as it closed up at US$2.69/lb from US$2.66/lb a week ago. Oil saw growth again as WTI closed up at US$60.21 a barrel from US$57.51 a barrel a week ago.

The Dow Jones Industrial Average kept pushing up records as it closed up at 27,332 from 26,922 a week ago. Canada’s S&P/TSX Composite Index closed down slightly at 16,488 from 16,541 the previous week. The S&P/TSX Venture Composite Index closed down as well at 576.03 from 586.79 last week.

For Full Update Visit: https://bit.ly/2LB0PQ2