07:56:15 EDT Fri 26 Apr 2024
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Primero Mining Corp
Symbol P
Shares Issued 161,555,875
Close 2015-01-21 C$ 5.55
Market Cap C$ 896,635,106
Recent Sedar Documents

FP says Romarco, others climb through financing window

2015-01-22 09:34 ET - In the News

See In the News (C-R) Romarco Minerals Inc

The Financial Post reports in its Thursday edition the financing window is open for gold miners, and they are rushing through it at a frantic pace. The Post's Peter Koven writes six companies have announced bought deal offerings since Tuesday evening: Romarco Minerals, Detour Gold, Osisko Gold Royalties, Primero Mining, Asanko Gold and Richmont Mines. Between them, they are raising $789.8-milllion. The flood of financings coincides with a significant jump in the gold price that has reignited investor enthusiasm for the sector. Bullion is up almost 10 per cent this month and topped $1,300 an ounce on Wednesday for the first time since August. "We see it over and over again. These windows open so quickly and might be so short," said Jay Kellerman at Stikeman Elliott. "Who would have imagined this [financing wave] a week ago?" Indeed, it did not seem likely last week that the financing window would open to such a huge degree. The price of gold traded as low as $1,224 an ounce. Then gold rallied and the equities shot up again at a faster pace than the gold price. "I think the bankers and the companies have been waiting and planning for some time for a window," said Jeremy Fraiberg at Osler, Hoskin & Harcourt.

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