It appears with the Stampede in full force, brokers have gone to Calgary and forgotten about their day jobs. While slightly better than Monday and Tuesday, Wednesday was still a slow day for the resource financing market.

There were five deal openings with expected proceeds of $35.2 million, five deal closings with gross proceeds of $46.45 million, and three private placement updates.

Openings

Sandstorm Metals & Energy Ltd. (TSX-V:SND) opened a $25 million private placement underwritten by Cormark Securities on a bought deal basis. Each unit includes a 1/2 warrant that expires in 18 months, and the deal is expected to close on or about August 3, 2011.

Crazy Horse Resources Inc. (TSX-V:CZH) opened a $5.23 million private placement on a best efforts basis.

Takara Resources Inc. (TSX-V:TKK) opened a $3 million private placement on a best efforts basis. Each unit includes 1 warrant that expires in seven months.

Closings

Spanish Mountain Gold Ltd. (TSX-V:SPA) closed a $20 million private placement on a best efforts basis. Each unit included a 1/2 warrant that expires in 24 months.

East Asia Minerals Corp. (TSX-V:EAS) closed a $10 million private placement underwritten by RBC Capital on a best efforts basis.

Petra Petroleum Inc. (TSX-V:PTL) closed a $9.19 million private placement underwritten by Jones, Gable & Co. on a best efforts basis.

Unitech Energy Resources Inc. (TSX-V:URX) closed a $6.49 million private placement on a best efforts basis. Each unit included 1 warrant that expires in 24 months.

Updates

PNG Gold Corporation (TSX-V:PGK) announced the terms for a $35 million private placement underwritten by Canaccord on a best efforts basis. The deal is expected to close on or about July 26, 2011.

Tuesday Opening After Market Close

Tanzanian Royalty Exploration Corp. (TSX:TNX) opened a $25 million private placement underwritten by Casimir Capital on a bought deal basis. Each unit includes 1 warrant that expires in 24 months, and the deal is expected to close on or about July 18, 2011.