Canadian Mining Journal

News

COMMENT: Money pouring in this week for Canadian miners


This seems to be the week that investors want to toss all kinds of money at Canadian mining companies. Let’s hope this is a trend that continues for many, many months.

Canadian currency.

On Monday, it was Osisko Mining that bumped up its unit offering to $52 million from $30 million just hours after the original announcement. And that was on top of a $30-million flow-through offering announced the same morning.

Yesterday Pretium Resources offered $90 million of unsecured convertible senior subordinated notes due in 2022. The overallotment has been exercised, bringing the total to more than $115 million. With the commissioning of the $811-million Brucejack gold mine in British Columbia imminent, this is a welcome infusion of cash.

Today Nighthawk increased its bought deal private placement to $20 million. The company is issuing approximately 10.8 million flow-through shares and 14.3 million non-flow-through units. There is also an overallotment of 1.6 million flow-through shares and 2.1 million units that may be taken up by the underwriters.

And there are probably a dozen more small financings for a few million dollars or even a few hundreds of thousands. It all adds up to renewed interest in the mineral sector.

This is good news to an industry that has had a tough time attracting investors for the last few years. We are optimistic that the newfound investor confidence will pay off for all stakeholders.


Print this page

Related Posts



Have your say:

Your email address will not be published. Required fields are marked *

*