The Top Ubika Mining 30 market value gainers for the week March 10 – March 14, 2014 include: Fortuna Silver Mines Inc (TSX: FVI), Macarthur Minerals Ltd (TSX: MMS), SilverCrest Mines Inc (TSX: SVL) and Mag Silver Corp (TSX: MAG). To view the complete Ubika Mining 30 index report, click on the download link.
Key Findings for the week of March 10 – March 14, 2014 are summarized below:
• Fortuna Silver Mines Inc (TSX: FVI) was the top performer for the week with a 10% gain in market capitalization (average weekly volume for Macarthur Minerals Ltd is less than the 50,000 cut-off set by Ubika). The stock gained on reporting positive drill results at its San Jose mine, Mexico. On March 10th, 2014, Fortuna announced new results for step-out drilling of the Trinidad North discovery located contiguous with the San Jose mine in Oaxaca, Mexico, which showed 2.8 kg/t Ag and 14.5 g/t Au over a true thickness of 4.2 m. The results continue to confirm the extension of the Trinidad North zone with high-grade silver-gold mineralization present over wide vein widths.
• After closing flat the previous week, the UM 30 index declined by 1.38% this week to end at 73.86. It underperformed TSX Venture index (-0.9%) and S&P/TSX Global Mining Index (-0.8%).
• The TSX Venture index decreased by 9.37 points or 0.9% to close at 1,033.64 on continuing tensions over Ukraine crises and fears of an economic slowdown in China.
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