Reports
The Gold Review
March 2020Track the flow of gold mining capital with our exclusive monthly review, including:
- Top financings by equity and debt
- Top financings with warrants attached
- Summary of brokered vs non-brokered deals
- Leading gold mining districts
- Use of proceeds
- ...and more!
Summary
This was not the March we were envisioning. Even early in the month, most of us were still playing wait and see, gearing up for sporting events and fretting about the US election.
COVID-19 has changed all of that. As the pandemic turned into a global catastrophe, currencies and equities plummeted, while governments and central banks took unprecedented action to bail out industries and individuals alike.
Meanwhile, gold has continued to soar. While the numbers may not yet look overly impressive in US dollars, the price of the yellow metal has hit all-time highs in over 70 currencies in the last two months. With COVID-19 uncertainty looming, and governments showing no sign of slowing easing efforts, it seems that gold prices have nowhere to go but up!
While demand from traditional buyers India and China may temporarily be hamstrung, that demand is clearly being filled by a rush of interest from savvy investors across the globe. While US dollars have been the money trade as of late, gold remains the smartest way to hold greenbacks, especially as treasury bills drift toward negative rates.
Sponsored by
GOLD: TSX GLDLF: OTCQX
Private Placements vs Prospectus
Use of Proceeds
Brokered vs Non-Brokered
Debt vs Equity
Top Financings by Region ($CAD)
TSX Top Debt
| Announced | Company | Ticker | Units1 | Price2 | Gross Proceeds3 |
|---|---|---|---|---|---|
| Mar 18, 2020 | Newmont Goldcorp Corp | NGT | 1,000,000 | $1,000.00 | $1,000,000,000.00 |
| Mar 17, 2020 | Mandalay Resources Corp | MND | 40,000 | $1,000.00 | $55,689,720.00 |
| Mar 17, 2020 | Midas Gold Corp | MAX | 35,000 | $1,000.00 | $48,728,505.00 |
| Mar 17, 2020 | Mandalay Resources Corp | MND | 25,000 | $1,000.00 | $34,806,075.00 |
TSX Top Equity
| Announced | Company | Ticker | Units1 | Price2 | Gross Proceeds3 |
|---|---|---|---|---|---|
| Mar 4, 2020 | Premier Gold Mines Ltd | PG | 25,335,000 | $1.50 | $38,002,500.00 |
| Mar 27, 2020 | Alexco Resources Corp | AXU | 4,054,500 | $1.85 | $7,500,825.00 |
| Mar 6, 2020 | Eastmain Resources Inc | ER | 15,875,000 | $0.12 | $1,905,000.00 |
| Mar 27, 2020 | Alexco Resources Corp | AXU | 608,175 | $1.85 | $1,125,123.75 |
| Mar 6, 2020 | Eastmain Resources Inc | ER | 2,391,304 | $0.12 | $274,999.96 |
TSX Top Warrant
| Announced | Company | Ticker | Units1 | Price2 | Gross Proceeds3 | Warrants | Strike | Strike Date |
|---|---|---|---|---|---|---|---|---|
| Mar 27, 2020 | Columbus Gold Corp | CGT | 8,687,500 | $0.16 | $1,390,000.00 | 4,343,750 | 0.24 | Sep 27, 2021 |
| Mar 6, 2020 | Eastmain Resources Inc | ER | 4,700,000 | $0.10 | $470,000.00 | 2,350,000 | 0.13 | Mar 6, 2022 |
| Mar 9, 2020 | Eastmain Resources Inc | ER | 3,500,000 | $0.10 | $350,000.00 | 1,750,000 | 0.13 | Mar 9, 2022 |
TSXV Top Debt
| Announced | Company | Ticker | Units1 | Price2 | Gross Proceeds3 |
|---|---|---|---|---|---|
| Mar 26, 2020 | Glen Eagle Resources Inc | GER | 25,000 | $1,000.00 | $25,000,000.00 |
| Mar 27, 2020 | Otso Gold Corp | OTSO | 3,705,032 | $1.00 | $3,705,032.00 |
| Mar 9, 2020 | Japan Gold Corp | JG | 1,000 | $1,000.00 | $1,000,000.00 |
| Mar 23, 2020 | Kerr Mines Inc | KER | 500 | $1,000.00 | $717,870.50 |
TSXV Top Equity
| Announced | Company | Ticker | Units1 | Price2 | Gross Proceeds3 |
|---|---|---|---|---|---|
| Mar 11, 2020 | Harte Gold Corp | HRT | 120,937,495 | $2.50 | $19,349,999.20 |
| Mar 31, 2020 | Skeena Resources Ltd | SKE | 13,000,000 | $1.16 | $15,015,000.00 |
| Mar 19, 2020 | Harte Gold Corp | HRT | 47,812,505 | $0.16 | $7,650,000.80 |
| Mar 3, 2020 | Algold Resources Ltd | ALG | 32,981,850 | $0.04 | $1,761,431.32 |
| Mar 9, 2020 | Essex Minerals Inc | ESX | 12,675,000 | $0.10 | $1,267,500.00 |
| Mar 31, 2020 | Colorado Resources Ltd | CXO | 15,793,000 | $0.08 | $1,184,475.00 |
| Mar 27, 2020 | Revival Gold Inc | RVG | 2,500,000 | $0.40 | $1,000,000.00 |
| Mar 9, 2020 | Genesis Metals Corp | GIS | 2,000,000 | $0.50 | $1,000,000.00 |
| Mar 5, 2020 | Dios Exploration Inc | DOS | 6,170,000 | $0.10 | $617,000.00 |
| Mar 9, 2020 | Ximen Mining Corp | XIM | 1,200,000 | $0.50 | $600,000.00 |
TSXV Top Warrant
| Announced | Company | Ticker | Units1 | Price2 | Gross Proceeds3 | Warrants | Strike | Strike Date |
|---|---|---|---|---|---|---|---|---|
| Mar 20, 2020 | QMX Gold Corp | QMX | 37,638,505 | $0.18 | $6,774,930.90 | 18,819,252 | $0.18 | Mar 20, 2022 |
| Mar 24, 2020 | Goldsource Mines Inc | GXS | 60,026,500 | $0.11 | $6,602,915.00 | 30,013,250 | $0.16 | Sep 24, 2022 |
| Mar 6, 2020 | Aurania Resources Ltd | ARU | 1,343,247 | $3.10 | $4,164,065.70 | 671,623 | $4.25 | Sep 5, 2021 |
| Mar 18, 2020 | Pancontinental Uranium Corp | PUC | 37,500,000 | $0.08 | $3,000,000.00 | 37,500,000 | $0.12 | Mar 18, 2025 |
| Mar 27, 2020 | Almaden Minerals Ltd | AMM | 5,509,658 | $0.37 | $2,038,573.46 | 5,509,658 | $0.50 | Mar 27, 2023 |
| Mar 27, 2020 | Reunion Gold Corp | RGD | 13,400,000 | $0.13 | $1,742,000.00 | 6,700,000 | $0.20 | Mar 27, 2023 |
| Mar 6, 2020 | G2 Goldfields Inc | GTWO | 6,750,000 | $0.20 | $1,350,000.00 | 3,375,000 | $0.35 | Sep 6, 2021 |
| Mar 23, 2020 | VVC Exploration Corp | VVC | 19,031,200 | $0.05 | $951,560.00 | 9,515,600 | $0.06 | Mar 23, 2023 |
| Mar 6, 2020 | First Mining Gold Corp | FF | 4,091,500 | $0.22 | $900,130.00 | 2,045,750 | $0.33 | Mar 6, 2023 |
| Mar 13, 2020 | Aurania Resources Ltd | ARU | 269,902 | $3.10 | $836,696.20 | 134,951 | $4.25 | Sep 13, 2021 |
CSE Top Equity
| Announced | Company | Ticker | Units1 | Price2 | Gross Proceeds3 |
|---|---|---|---|---|---|
| Mar 12, 2020 | Cyntar Ventures Inc | CYN | 8,125,000.00 | $0.08 | $650,000.00 |
| Mar 17, 2020 | West Red Lake Gold Mines Inc | RLG | 2,067,602.00 | $.08 | $155,070.15 |
CSE Top Warrant
| Announced | Company | Ticker | Units1 | Price2 | Gross Proceeds3 | Warrants | Strike | Strike Date |
|---|---|---|---|---|---|---|---|---|
| Mar 17, 2020 | West Red Lake Gold Mines Inc | RLG | 14,710,000 | $0.88 | $1,103,250.00 | 14,710,000 | $0.10 | Sep 17, 2022 |
| Mar 31, 2020 | Northstar Gold Corp | NSG | 3,412,101 | $0.29 | $989,509.29 | 1,706,050 | $0.43 | Mar 31, 2022 |
| Mar 6, 2020 | Idaho Champion Gold Mines Canada Inc | ITKO | 6,250,000 | $0.08 | $500,000.00 | 6,250,000 | $0.15 | Mar 06, 2025 |
| Mar 11, 2020 | Maxtech Ventures Inc | MVT | 4,585,037 | $0.10 | $435,578.52 | 4,585,037 | $0.12 | Mar 11, 2021 |
| Mar 31, 2020 | First Energy Metals Ltd | FE | 6,999,000 | $0.05 | $349,950.00 | 6,999,000 | $0.20 | Mar 31, 2021 |
| Mar 26, 2020 | Four Nines Gold Inc | FNAU | 2,720,000 | $0.08 | $204,000.00 | 2,720,000 | $0.10 | Mar 26, 2025 |
| Mar 13, 2020 | Deer Horn Capital Inc | DHC | 3,050,000 | $0.05 | $152,500.00 | 3,050,000 | $0.10 | Mar 13, 2022 |
| Mar 11, 2020 | Maxtech Ventures Inc | MVT | 1,532,582 | $0.09 | $130,269.47 | 1,532,582 | $0.12 | Mar 11, 2021 |
| Mar 17, 2020 | West Red Lake Gold Mines Inc | RLG | 1,420,000 | $0.08 | $106,500.00 | 710,000 | $0.10 | Sep 17, 2021 |
Footnotes
- Total units shown consist of shares and warrants.
- Prices are represented in the currency of the placement
- Gross proceed figures are converted to $CAD.
