The top Ubika Gold 50 gainers for the week ending January 24, 2014 include: Golden Star Resources Ltd (TSX: GSC), Kaminak Gold Corp (TSXV: KAM) and Endeavour Mining Corp (TSX: EDV). To view the complete Ubika Gold 50 index report, click on the download link.
Key Findings for the week:
• Golden Star Resources Ltd (TSX: GSC) was the top gainer for the week with a 30.51% gain. The stock rose on recent positive development in company’s Bogoso and Wassa mines, Ghana. Besides, the news (announced on January 09, 2014) that the company achieved 2013 production guidance, added to the company’s surge in stock price.
• The UG 50 index declined by 2.71% to close at 76.81. The UG 50 index underperformed TSXV index (-0.92%), Gold (1.28%) and S&P/TSX global gold index (2.63%). Though, gold price rose for the week, the UG50 index declined. The reason being the drop in the value of some of the bigger companies (in terms of market capitalization) such as Alamos Gold Inc, B2Gold Corp, Argonaut Gold Inc, which pushed down the index.
• The performance of the UG 50 constituent companies was mixed with 23 out of 48 companies recording negative performance for the week.
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