The top Ubika Mining 30 gainers for the week June 16 – June 20, 2014 include: Lumina Copper Corp. (TSXV: LCC), North American Nickel Inc. (TSXV: NAN), Fortune Minerals Ltd. (TSX: FT), SilverCrest Mines Inc. (TSX: SVL) and Ic Potash Corp. (TSX: ICP). To view the complete Ubika Mining 30 index report, click on the download link.
Key Findings for the week of June 16 – June 20, 2014 are summarized below:
• Lumina Copper Corp. (TSXV: LCC) was the top performer for the week with 24% gain in market capitalization. The stock gained on the announcement (June 17, 2014) that First Quantum Minerals (TSE: FM) will acquire Lumina for $470 million (both cash and share transaction).
• After gaining 4.40% the previous week, the UM 30 index gained further by 8.95% this week to end at 74.28. It outperformed TSX Venture index (2.91%) and S&P/TSX Global Mining Index (2.54%).
• The TSX Venture index rose by 29.04 points or 2.91% to close at 1,026.37. The index rose reflecting the indication of improved economic conditions in U.S. and positive steps taken by Fed. In U.S. industrial production data were better than expected and the jobless claims declined. The Fed too reduced the fiscal stimulus program by $10 billion to $35 billion a month keeping the interest rate unchanged.
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