- 1. Sector 30 April Pulse Report 2012CopperDisclaimer:
Information and recommendations herein are the opinions of the
Oreninc Analyst only. Datautilized is believed to be accurate and
reliable as of the date of this report. You should independently
verifyall data herein. Data was not reviewed, supplied or amended
by any bank or third party prior to productionof this report.
2. Broker Fee ChartsBroker Fees by Market Cap: All
SectorsAverage Cash FeeAverage Total Fee 14% When looking at a
financing, it is important 12% to remember: the smaller the market
cap, 10% the higher the fees.8%6%4%2%0% $0-$10 $10-$25 $25-$50
$50-$100$100-$500 Broker Fees: CopperAverage Cash Fee Average Total
Fee This chart represents the fees charged by16%14% each broker in
the copper sector. The12%10% numerical values listed on page 5 can
be8% used for negotiating purposes.6% 4% 2% 0%Note: The charts
represent all brokered deals in the respective sector(s) opened on
or after 1/5/2011 and closed by 30/4/2012. Market cap listed in
million-dollar units.2 April 2012 Pulse Report: Copper 3. Broker
Efficiency Average Deal Size: Copper Choose a broker who has
completed 80 70 offerings of similar size to your deal, but
60Millions keep in mind that these are averages. 50 40 Sometimes a
broker completes one large30 20 offering and several small ones,
which10 skews the average deal size. Therefore, it 0 is important
to review the table in the back. Average Time to Close: Copper We
care about broker efficiency. The speed80 at which a broker moves a
transaction from70 60 announcement to completion is a good50Days
indication of their ability to deliver a40 30 successful raise. 20
100Note: The charts represent all brokered deals in the respective
sector(s) opened on or after 1/5/2011 and closed by 30/4/2012.3
April 2012 Pulse Report: Copper 4. Broker Sector Focus% of Brokers
Total Book: Copper120%100% The percentage of a brokers total lead
in 80% your sector gives you a sense of how 60% material your
sector is for their business.40%20%0% Money raised in copper will
show whichMoney Raised: Copper brokers have a track record of
raising$90 $80 money for your sector.$70 $60Millions $50 $40 $30
$20 $10$0Note: The charts represent all brokered deals in the
respective sector(s) opened on or after 1/5/2011 and closed by
30/4/2012.4 April 2012 Pulse Report: Copper 5. Copper Brokers % of
DealsAverage AverageCash WarrantTotal Total Total Average Deal % of
Total Broker with Days to SubscriptionFee FeeFee Raised Deals
SizeBook Warrants Close RateCanaccord5.8% 3.3%9.0% $78.5 2$39.2
13.0% 50.0% 26.5 100.0% Casimir 6.0%
6.0%12.0%$2.11$2.10.7%100.0%14.0 101.0% CapitalD&D Securities
6.0% 6.8%12.8%$0.51$0.51.9%100.0%69.0 43.8% Dundee 5.0%
5.0%10.0%$26.7 1$26.7 10.8% 100.0%27.0 133.4%SecuritiesEMD
Financial2.3% 2.2%4.5% $0.62$0.3 100.0% 100.0%70.0 218.6%M Partners
5.2% 2.9%8.1% $7.81$7.848.7% 100.0%24.0 96.9% Mackie 6.0%
6.0%12.0%$10.0 2$5.013.7%0.0% 14.0 125.6%ResearchMacquarie7.0%
7.0%14.0%$13.8 1$13.8 10.6% 100.0%15.0 138.0% NCP 5.2%
5.1%10.3%$3.32$1.730.1% 100.0%56.0 47.8%Northern
10.0%5.0%15.0%$1.01$1.0 100.0% 100.0%28.0 100.0%SecuritiesOcean
Equities 1.0% 3.8%4.8% $12.1 1$12.1100.0%0.0% 25.0 89.9% PI
Financial10.0%0.0%10.0%$0.51$0.53.9% 0.0% 6.0100.0%Raymond 5.0%
0.0%5.0% $15.0 1$15.0 21.7%0.0% 15.0 100.0% James Salman 6.5%
6.5%13.0%$1.51$1.55.4% 0.0% 23.0 100.0% PartnersNote: The chart
represents all brokered deals in the respective sector(s) opened on
or after 1/5/2011 and closed by 30/4/2012. Average deal size and
total raised listed in million-dollar units. 5 April 2012 Pulse
Report: Copper 6. Copper Brokers % of DealsAverage AverageCash
WarrantTotal Total Total Average Deal % of Total Broker with Days
to SubscriptionFee FeeFee Raised Deals SizeBook Warrants Close
RateScotiabank 5.0% 0.0%5.0% $6.01$6.06.5% 0.0% 20.0
100.0%Wellington West5.0% 0.0%5.0% $76.0 1$76.0100.0%0.0% 24.0
122.6% Brokered 5.2% 2.6%7.8%$255.420$12.8 0.0%52.4% 31.2 110.5%
Average Non-Brokered 4.4% 1.1%5.6%$212.488$2.40.0%70.5% 40.3 92.5%
AverageNote: The chart represents all brokered deals in the
respective sector(s) opened on or after 1/5/2011 and closed by
30/4/2012. Average deal size and total raised listed in
million-dollar units.6 April 2012 Pulse Report: Copper 7. All
Deals: CopperDollars % ofMarket Company Open CashWarrantTotal
Security Financing LeadCo- TickerRaisedMarket Cap atName Date
FeeFeeFee TypeBasisUnderwriter Underwriterat Close Cap Deal
OpenQuaterra 13/04/2012TSX-V:QTAN/A1 N/A1 N/A1 $2.5 3.9%CommonBest
Efforts$64.0 ResourcesInternational PBX 12/04/2012TSX-V:PBXN/A1
N/A1 N/A1 $0.7 4.9%CommonBest Efforts$13.7
VenturesEnertopia09/04/2012CNSX:TOP7.0%7.0%14.0% $0.2 13.2%
CommonBest Efforts$1.6 Toro Resources29/03/2012TSX-V:TRK
8.0%8.0%16.0% Cancelled N/ACommonBest Efforts$5.4Castle Resources
15/03/2012 TSX-V:CRI6.0%6.0%12.0% $6.6 12.6% Flow-ThroughBought
Deal $52.7Mackie ResearchScotiabankCastle Resources 15/03/2012
TSX-V:CRI6.0%6.0%12.0% $3.4 6.4%CommonBought Deal $52.7Mackie
ResearchScotiabank WCB Resources 09/03/2012TSX-V:WCB 6.0%6.0%12.0%
$2.1 12.2% CommonBest Efforts$17.0 Casimir Capital Highbank
28/02/2012TSX-V:HBK 8.0%8.0%16.0% $0.7 9.9%CommonBest Efforts$7.0
Resources Cascadero 24/02/2012TSX-V:CCDN/A1 N/A1 N/A1 $0.1
0.5%CommonBest Efforts$19.6CopperEquinox 23/02/2012TSX-V:EQX
3.8%3.0% 6.8% $1.3 25.2% CommonBest Efforts$5.3 Exploration Panoro
Minerals 22/02/2012TSX-V:PML 7.0%7.0%14.0% $13.815.2% CommonBought
Deal $90.9 Macquarie M Partners Andover
Mining16/02/2012TSX-V:AOXN/A1 N/A1 N/A1 $1.4 2.9%CommonBest
Efforts$49.2Abacus Mining and 15/02/2012TSX-V:AME 6.0%0.0% 6.0%
$3.2 6.9%CommonBest Efforts$46.4 ExplorationNote: The chart
represents all deals in the respective sector(s) opened on or after
1/5/2011 and closed by 30/4/2012. Dollars raised and market cap
listed in million-dollar units.1Fees unavailable at time of
publication. 7 April 2012 Pulse Report: Copper 8. All Deals: Copper
(Cont.)Dollars % ofMarket Company Open CashWarrantTotal Security
Financing LeadCo- TickerRaisedMarket Cap atName Date FeeFeeFee
TypeBasisUnderwriter Underwriterat Close Cap Deal OpenWestminster
09/02/2012TSX-V:WMRN/A1 N/A1 N/A1 $0.9 8.2%CommonBest
Efforts$10.6Resources Snowfield 09/02/2012TSX-V:SNO 1.4%0.0% 1.4%
$0.5 25.2% CommonBest Efforts$2.1DevelopmentRegulusConditional
DundeeAxemen 08/02/2012TSX-V:PMA 5.0%5.0%10.0% $26.755.8% Bought
Deal $47.8 ResourcesCommonSecurities ResourceNorthisle Copper
08/02/2012TSX-V:NCX 6.5%6.5%13.0% $1.5 9.5%Flow-ThroughBest
Efforts$15.9Salman Partnersand Gold White Tiger 07/02/2012TSX-V:WTC
1.5%1.5% 3.0% $0.6 17.1% CommonBest Efforts$3.4MiningVMS Ventures
01/02/2012TSX-V:VMS 6.0%3.0% 9.0% $2.5 5.0%Flow-ThroughBest
Efforts$48.8 Lions Gate 31/01/2012TSX-V:LGM 3.3%0.0% 3.3% $0.4
4.2%CommonBest Efforts$9.4 Metals Lions Gate 31/01/2012TSX-V:LGM
3.3%0.0% 3.3% $0.5 4.9%Flow-ThroughBest Efforts$9.4 MetalsSalazar
30/01/2012TSX-V:SRL 2.0%0.0% 2.0% $3.0 16.0% CommonBest
Efforts$18.8 ResourcesAfrican Metals 27/01/2012TSX-V:AFR
7.5%7.5%15.0% $1.3 8.9%CommonBest Efforts$14.4Hana
Mining26/01/2012TSX-V:HMG 2.9%0.0% 2.9% $14.911.6% CommonBest
Efforts $129.1International PBX 24/01/2012TSX-V:PBX 0.7%0.0% 0.7%
$0.6 2.6%CommonBest Efforts$22.7 Ventures Catalyst Copper
23/01/2012TSX-V:CCY 3.0%0.0% 3.0% $3.5 13.3% CommonBest
Efforts$26.5Note: The chart represents all deals in the respective
sector(s) opened on or after 1/5/2011 and closed by 30/4/2012.
Dollars raised and market cap listed in million-dollar units.1Fees
unavailable at time of publication. 8 April 2012 Pulse Report:
Copper 9. All Deals: Copper (Cont., 2)Dollars % ofMarket Company
Open CashWarrantTotal Security Financing LeadCo- TickerRaisedMarket
Cap atName Date FeeFeeFee TypeBasisUnderwriter Underwriterat Close
Cap Deal Open Terra Firma 20/01/2012TSX-V:TFR 6.7%0.0% 6.7% $0.4
32.6% CommonBest Efforts$1.1 ResourcesOracle Mining19/01/2012
TSX:OMN6.0%0.0% 6.0% $9.8 24.8% CommonBest Efforts$39.3 Copper Fox
18/01/2012TSX-V:CUUN/A1 N/A1 N/A1 $2.2 0.5%CommonBest Efforts
$426.1 Metals Niblack Mineral 29/12/2011 TSX-V:NIB10.0% 0.0%10.0%
$0.5 7.3%CommonBest Efforts$6.5PI FinancialDevelopment Los Andes
23/12/2011 TSX-V:LAN/A1 N/A1 N/A1 $0.8 1.5%CommonBest
Efforts$51.0CopperCaribou King 22/12/2011TSX-V:CKR 10.0% 0.0%10.0%
$0.2 5.0%Flow-ThroughBest Efforts$3.9 Resources Doubleview
20/12/2011TSX-V:DBVN/A1 N/A1 N/A1 $0.1 21.2% Flow-ThroughBest
Efforts$0.5 Capital Snowfield 12/12/2011TSX-V:SNO 3.6%0.0% 5.1%
$0.3 16.0% CommonBest Efforts$1.7DevelopmentMillstream Mines
12/12/2011TSX-V:MLM 10.0% 0.0%10.0% $0.1 5.8%CommonBest
Efforts$1.9Millstream Mines 12/12/2011TSX-V:MLM 10.0% 0.0%10.0%
$0.042.1%Flow-ThroughBest Efforts$1.9International PBX
09/12/2011TSX-V:PBXN/A1 N/A1 N/A1 Cancelled N/ACommonBest
Efforts$31.6 VenturesRed Crescent 01/12/2011 TSX:RCB0.5%0.5% 1.0%
$0.3 1.0%CommonBest Efforts$28.0 ResourcesRockcliff
01/12/2011TSX-V:RCR 8.0%8.0%16.0% $2.2 34.2% Flow-ThroughBest
Efforts$6.5 ResourcesNote: The chart represents all deals in the
respective sector(s) opened on or after 1/5/2011 and closed by
30/4/2012. Dollars raised and market cap listed in million-dollar
units.1Fees unavailable at time of publication. 9 April 2012 Pulse
Report: Copper 10. All Deals: Copper (Cont., 3)Dollars % ofMarket
Company Open CashWarrantTotal Security Financing LeadCo-
TickerRaisedMarket Cap atName Date FeeFeeFee TypeBasisUnderwriter
Underwriterat Close Cap Deal OpenRockcliff 01/12/2011TSX-V:RCR
8.0%8.0%16.0% $0.040.5%CommonBest Efforts$6.5 ResourcesRedtail
Metals 30/11/2011TSX-V:RTZ 1.2%0.0% 1.2% $0.5 15.4% CommonBest
Efforts$3.2 PolyMet Mining30/11/2011 TSX:POM N/A1 N/A1 N/A1
$20.010.3% CommonBest Efforts $193.4 Lumina Copper
23/11/2011TSX-V:LCC 5.0%0.0% 5.0% $15.03.8%CommonBest Efforts
$397.9 Lumina Copper 23/11/2011TSX-V:LCC 5.0%0.0% 5.0%
$15.03.8%CommonBest Efforts $397.9Raymond JamesScotiabank El Nino
21/11/2011TSX-V:ELN 4.2%4.0% 8.2% $0.5 7.8%Flow-ThroughBest
Efforts$6.4Ventures El Nino 21/11/2011TSX-V:ELN 4.2%4.0% 8.2% $1.0
15.7% CommonBest Efforts$6.4VenturesBoxxer Gold17/11/2011TSX-V:BXX
9.0%9.0%18.0% $1.2 5.2%Flow-ThroughBest Efforts$22.3Boxxer
Gold17/11/2011TSX-V:BXX 9.0%9.0%18.0% $1.1 4.9%CommonBest
Efforts$22.3 Copper Fox 17/11/2011TSX-V:CUUN/A1 N/A1 N/A1 $4.0
0.9%CommonBest Efforts $468.1 MetalsMercator
17/11/2011TSX:ML2.7%0.0% 2.7% $20.04.7%CommonBest Efforts
$422.3MineralsNetwork 10/11/2011TSX-V:NETN/A1 N/A1 N/A1 $0.9 42.9%
CommonBest Efforts$2.0 ExplorationWestminster 04/11/2011TSX-V:WMR
5.4%4.0% 9.4% $1.2 15.7% CommonBest Efforts$7.7ResourcesNote: The
chart represents all deals in the respective sector(s) opened on or
after 1/5/2011 and closed by 30/4/2012. Dollars raised and market
cap listed in million-dollar units.1Fees unavailable at time of
publication.10 April 2012 Pulse Report: Copper 11. All Deals:
Copper (Cont., 4)Dollars % ofMarket Company Open CashWarrantTotal
Security Financing LeadCo- TickerRaisedMarket Cap atName Date
FeeFeeFee TypeBasisUnderwriter Underwriterat Close Cap Deal
OpenCopper North 03/11/2011TSX-V:COLN/A1 N/A1 N/A1 $0.2
1.5%CommonBest Efforts$13.0MiningGuerrero 02/11/2011TSX-V:GEX
7.2%0.0%13.2% $1.0 25.9% CommonBest Efforts$3.7 Exploration Cresval
Capital 01/11/2011TSX-V:CRVN/A1 N/A1 N/A1 $0.1 2.8%Flow-ThroughBest
Efforts$1.8 Telferscot 28/10/2011 CNSX:TFSN/A1 N/A1 N/A1 $1.0 23.4%
CommonBest Efforts$4.3 ResourcesCadillac
Ventures26/10/2011TSX-V:CDC 5.2%5.1%10.3% $2.5 9.5%Flow-ThroughBest
Efforts$26.8NCPCadillac Ventures26/10/2011TSX-V:CDC 5.2%5.1%10.3%
$0.8 3.0%CommonBest Efforts$26.8NCPBlack Smoker
26/10/2011CNSX:BSM6.0%6.0%12.0% $1.2 45.0% CommonBest
Efforts$2.8VenturesBellhaven Copper 26/10/2011TSX-V:BHVN/A1 N/A1
N/A1 $6.1 15.9% CommonBought Deal $38.0 & GoldHappy Creek
25/10/2011TSX-V:HPY 8.0% 10.0%18.0% $0.7 5.9%CommonBest
Efforts$11.3MineralsHappy Creek 25/10/2011TSX-V:HPY 7.0%8.0%15.0%
$2.2 19.8% Flow-ThroughBest Efforts$11.3Minerals Greenock
20/10/2011TSX-V:GKRN/A1 N/A1 N/A1 $0.1 8.0%CommonBest Efforts$1.2
Resources Copper Fox 18/10/2011TSX-V:CUUN/A1 N/A1 N/A1 $2.0
0.4%CommonBest Efforts $545.9 MetalsInternational 11/10/2011
TSX-V:IEC4.1%0.0% 4.1% $2.5 25.4% CommonBest Efforts$9.8
EnexcoNote: The chart represents all deals in the respective
sector(s) opened on or after 1/5/2011 and closed by 30/4/2012.
Dollars raised and market cap listed in million-dollar units.1Fees
unavailable at time of publication.11 April 2012 Pulse Report:
Copper 12. All Deals: Copper (Cont., 5)Dollars % ofMarket Company
Open CashWarrantTotal Security Financing LeadCo- TickerRaisedMarket
Cap atName Date FeeFeeFee TypeBasisUnderwriter Underwriterat Close
Cap Deal OpenNGEx Resources 11/10/2011 TSX:NGQ4.0%0.0% 4.0%
$27.06.4%CommonBest Efforts $424.5International PBX
11/10/2011TSX-V:PBX 3.0%0.0% 3.0% $1.0 3.8%CommonBest Efforts$26.3
Ventures Highbank 05/10/2011TSX-V:HBK 8.0%0.0% 8.0% $0.2
5.4%CommonBest Efforts$4.1 Resources CormarkCastle Resources
29/09/2011 TSX-V:CRI5.0%0.0% 5.0% $6.0 9.9%Flow-ThroughBest
Efforts$60.5 Scotiabank SecuritiesMetropolitan 23/09/2011TSX-V:MNZ
8.5%0.0% 8.5% $0.4 48.7% CommonBest Efforts$0.7MiningVirgin
Metals23/09/2011TSX-V:VGM 10.0%10.0%20.0% $1.5 20.5% CommonBest
Efforts$7.3 Nitinat Minerals21/09/2011TSX-V:NZZN/A1 N/A1 N/A1
Cancelled N/ACommonBest Efforts$3.9 Westridge 20/09/2011TSX-V:WST
8.0%4.0%12.0% $1.2 11.8% CommonBest Efforts$9.9 Resources Cascadero
13/09/2011TSX-V:CCDN/A1 N/A1 N/A1 $1.5 8.5%CommonBest
Efforts$18.0CopperLogan Copper 09/09/2011 TSX-V:LC 2.3%2.2% 4.5%
$0.5 21.4% CommonBest Efforts$2.3EMD FinancialLogan Copper
09/09/2011 TSX-V:LC 2.3%2.2% 4.5% $0.2 6.5%Flow-ThroughBest
Efforts$2.3EMD FinancialTigray Resources 08/09/2011 TSX-V:TIG N/A1
N/A1 N/A1 $5.3 10.1% CommonBest Efforts$52.2Mukuba
07/09/2011TSX-V:MKUN/A1 N/A1 N/A1 $2.0 21.6% CommonBest Efforts$9.2
ResourcesNote: The chart represents all deals in the respective
sector(s) opened on or after 1/5/2011 and closed by 30/4/2012.
Dollars raised and market cap listed in million-dollar units.1Fees
unavailable at time of publication.12 April 2012 Pulse Report:
Copper 13. All Deals: Copper (Cont., 6)Dollars % ofMarket Company
Open CashWarrantTotal Security Financing LeadCo- TickerRaisedMarket
Cap atName Date FeeFeeFee TypeBasisUnderwriter Underwriterat Close
Cap Deal Open Copper Fox 07/09/2011TSX-V:CUUN/A1 N/A1 N/A1 $2.5
0.4%CommonBest Efforts $619.3 Metals Miocene Metals31/08/2011
TSX-V:MII N/A1 N/A1 N/A1 $0.1 0.7%CommonBest Efforts$13.3 Cascadero
15/08/2011TSX-V:CCDN/A1 N/A1 N/A1 $0.5 2.9%Flow-ThroughBest
Efforts$16.4CopperRegulus 08/08/2011TSX-V:REGN/A1 N/A1 N/A1 $0.7
1.6%CommonBought Deal $44.5 Resources Catalyst Copper
29/07/2011TSX-V:CCY 2.8%0.0% 2.8% $2.1 8.4%CommonBest
Efforts$25.4Pebble Creek 28/07/2011TSX-V:PEB 8.0%0.0% 8.0% $0.1
2.7%CommonBest Efforts$5.5 Mining Crazy Horse
13/07/2011TSX-V:CZHN/A1 N/A1 N/A1 $5.2 12.2% CommonBest
Efforts$42.9 Resources Nevada Copper 07/07/2011 TSX:NCU5.5%2.5%
8.0% $65.118.9% CommonBought Deal$345.1 Canaccord Scotiabank WCB
Resources 06/07/2011TSX-V:WCBN/A1 N/A1 N/A1 $1.0 31.8% CommonBest
Efforts$3.1 Crazy Horse 04/07/2011TSX-V:CZHN/A1 N/A1 N/A1 $5.0
12.7% CommonBought Deal $39.3 ResourcesNorthernSego Resources
29/06/2011TSX-V:SGZ 10.0% 5.0%15.0% $1.0 9.8%CommonBest
Efforts$10.2SecuritiesBoxxer Gold23/06/2011TSX-V:BXX 6.0%6.8%12.8%
$0.5 1.5%Flow-ThroughBest Efforts$34.0 D&D Securities Drexel
23/06/2011 TSX-V:DX 0.0%0.0% 6.0% $2.4340.0% CommonBest Efforts$0.7
ResourcesNote: The chart represents all deals in the respective
sector(s) opened on or after 1/5/2011 and closed by 30/4/2012.
Dollars raised and market cap listed in million-dollar units.1Fees
unavailable at time of publication.13 April 2012 Pulse Report:
Copper 14. All Deals: Copper (Cont., 7)Dollars % ofMarket Company
Open CashWarrantTotal Security Financing LeadCo- TickerRaisedMarket
Cap atName Date FeeFeeFee TypeBasisUnderwriter Underwriterat Close
Cap Deal OpenSlater Mining21/06/2011TSX-V:SLM 0.0%0.0% 0.8% $0.8
8.0%CommonBest Efforts$9.4Slater Mining21/06/2011TSX-V:SLM 0.0%0.0%
0.8% $0.3 2.7%Flow-ThroughBest Efforts$9.4RK Equity Capital Kincora
Copper20/06/2011TSX-V:KCC 1.0%3.8% 4.8% $12.1 522.1% CommonBest
Efforts$2.3Ocean EquitiesMarketsVirgin Metals17/06/2011TSX-V:VGM
8.0%7.0%15.0% $0.3 4.4%CommonBest Efforts$7.9 Serengeti 16/06/2011
TSX-V:SIR6.0%0.0% 6.0% $1.3 11.6% Flow-ThroughBest Efforts$11.3
Resources Panoro Minerals 13/06/2011TSX-V:PML 5.2%2.9% 8.1% $7.8
14.3% CommonBest Efforts$54.3 M Partners CanaccordMetropolitan
01/06/2011TSX-V:MNZN/A1 N/A1 N/A1 Cancelled N/ACommonBest
Efforts$1.0Mining Cormark Iberian Minerals31/05/2011
TSX-V:IZN5.0%0.0% 5.0% $76.021.1% CommonBought Deal$359.5
Wellington West Securities Caribou Copper 26/05/2011TSX-V:CKR
7.4%7.4%14.8% $0.4 10.0% Flow-ThroughBest Efforts$4.1 Resources
Caribou Copper 26/05/2011TSX-V:CKR 6.8%9.6%16.4% $0.8 20.3%
CommonBest Efforts$4.1 ResourcesTribune Minerals
19/05/2011TSX-V:TCBN/A1 N/A1 N/A1 $4.6 85.0% CommonBest
Efforts$5.4Tribune Minerals 19/05/2011TSX-V:TCBN/A1 N/A1 N/A1 $3.9
72.1% Flow-ThroughBest Efforts$5.4AKA Ventures 17/05/2011TSX-V:AKA
5.5%0.0% 5.5% $0.6 4.5%CommonBest Efforts$14.0Note: The chart
represents all deals in the respective sector(s) opened on or after
1/5/2011 and closed by 30/4/2012. Dollars raised and market cap
listed in million-dollar units.1Fees unavailable at time of
publication.14 April 2012 Pulse Report: Copper 15. All Deals:
Copper (Cont., 8) Dollars % ofMarketCompany Open CashWarrantTotal
Security Financing LeadCo-TickerRaisedMarket Cap at Name Date
FeeFeeFee TypeBasisUnderwriter Underwriter at Close Cap Deal
OpenWhite Tiger06/05/2011TSX-V:WTC 4.4% 0.0%4.4% $0.3 11.2%
CommonBest Efforts$2.7 Mining Guerrero04/05/2011TSX-V:GEX 8.0% 8.0%
16.0% $0.3 5.9%CommonBest
Efforts$5.2ExplorationCuOro04/05/2011TSX-V:CUA 7.0% 0.0%7.0% $1.6
6.0%CommonBought Deal $26.9ResourcesCuOro
Conditional04/05/2011TSX-V:CUA 7.0% 7.0% 14.0% $13.449.7% Bought
Deal $26.9 Canaccord ScotiabankResourcesCommonNote: The chart
represents all deals in the respective sector(s) opened on or after
1/5/2011 and closed by 30/4/2012. Dollars raised and market cap
listed in million-dollar units.15 April 2012 Pulse Report: Copper
16. About UsOreninc is a research firm in the junior commodities
space. We work to creategreater transparency and information flow
between companies, institutions, andinvestors.Research:Sector and
region-specific quarterly reportsFinancing targets based on
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and project valuationsAdvise companies on capital structuresTarget
companies with stranded assetsAcquire and restructure projectsThe
Oreninc team holds your needs above all else and works as an
independentthird party consultant on the terms you want.16 April
2012 Pulse Report: Copper 17. 2012 Rates Product Company &
Investor Relations Brokerage & InstitutionalBroker Fee
ReportSingle QuarterlySingleQuarterlyPrimary
Sector$2,500$5,000$3,500$8,000Secondary
Sector$2,000$2,500$2,500$3,500 Single -- Single -- Sector Pulse
Report $495 --$1,895-- Monthly Yearly MonthlyYearly Custom ODL$50
$500--* --* Note: Oreninc charges a $1,000 one-week rush fee for a
Broker Fee Report requested out of cycle. Visit oreninc.com for a
current list of sectors ready for download. Price is negotiable on
bundled purchases of Sector Pulse Reports. *Brokerage and
institutional rates for Custom ODL calculated on a bid by bid
basis. Strategic Work: Oreninc also provides strategic advisement
to junior mining companies, acting as a third party consultant on a
variety of issues including project structuring, raising capital,
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not provide banking, brokering or other financial services.
Delivery Timeline: Broker Fee Reports are updated quarterly and
will be delivered by January 16, April 16, July 16, and October 15.
Sector Pulse Reports are updated six times a year, and the most
popular sectors are available for download immediately. All other
sectors are produced upon request and delivered within three to
five business days.17 April 2012 Pulse Report: Copper 18. Contact
Us If you are interested in receiving more information, please
contact us. Benjamin Cox Megan SweeneyManaging DirectorDirector of
[email protected] [email protected] E
Evergreen Blvd.Vancouver, WA 98660 (360) 262-6969oreninc.com18 Tear
SheetPulse Report:the Institutional Investor: Wellington West April
2012 prepared for Copper 19. DisclaimerGeneral DisclaimerThis
report is based on all representative data from 1/1/2011 through
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Oreninc analysts relyin this report will prove to be accurate.19
April 2012 Pulse Report: Copper