Ranked: September capital raisings tumble 90%

Mining financings fell nearly 90% year over year to $765 million (C$1 billion) in September, down 78% from August.

Over the 12 months ended Sept. 30, tracked financings totalled $23.34 billion, 6.9% below the previous 12-month period. The Northern Miner changed data providers to expand its coverage, so the figures may differ from those published in earlier issues.

A separate ranking for Aug. 17 to Sept. 15 counted C$3.53 billion in transactions, led by a $1.55-billion package announced by USA Rare Earth (NASDAQ: USAR) for the vehicle that will buy Serra Verde’s Brazilian rare-earth output. Worth C$2.15 billion in the ranking, the package includes a $750-million U.S. government investment commitment, a conditional $500-million bank facility and at least $300 million of contracted purchases.

McEwen Copper, 46.3% owned by McEwen (TSX, NYSE: MUX), placed second with a $240-million senior secured loan to advance Los Azules in Argentina toward a targeted mid-2027 investment decision.

StrikePoint Gold (TSXV: SKP; US-OTC: STKXF) placed third with a C$190-million bought-deal private placement for its planned acquisition of Nevada’s Northumberland gold project from Newmont (TSX: NGT; NYSE: NEM). StrikePoint expects to close around Oct. 6, pay $70 million upfront and retain about C$90 million in cash; two further $25-million payments are tied to project milestones.