The same cannot be said for 2022, and as overall markets have weakened, we have seen major indices like the S&P and DOW down as much as 20% or more at points and this has evaporated the amount of risk capital as commodity prices largely trended downward in 2022. On a positive note, while 2022 fell short of 2021’s peak, the amount raised in the year was closer in line with historical averages and well ahead of 2019’s low point.
outlines combined financing in TSX & TSXV, disaggregated by the type of equity being issued into the market.
Seeing the share of public deals (public offerings + IPOs) increase over four consecutive years, as the dashed line illustrates, is encouraging as this deal type enables companies to expand their investor base, which typically has positive implications for future fundraising capacity.
Figure 8 presents flow-through share (FTS) funds raised on Canadian stock exchanges, which must be dedicated towards domestic mineral exploration.
The flow through share regime is a big Canadian advantage and enables Canadian mineral explorers to remain attractive investment in a weak market.