Ubika Gold 20 Report May 20, 2014

The top Ubika Gold 20 gainers for the week ending May 16, 2014 include: Luna Gold Corp (TSX: LGC), Rubicon Minerals Corp. (TSX: RMX), Sulliden Gold Corp (TSX: SUE), Kirkland Lake Gold Inc (TSX: KGI), Alacer Gold Corp (TSX: ASR). To view the complete Ubika Gold 20 index report, click on the download link.

Key Findings for the week:

• Luna Gold Corp. (TSX: LGC) was the top gainer for the week with an 8% gain. The company’s market capitalization rose on the announcement of quarterly result which showed record first quarter gold production for the company. Besides, the company delivered on its 2014 strategy and guidance outlined last year (MD&A December 31, 2013).
• The UG 20 index lost 2.17% to close at 93.80. It underperformed TSXV index -1.47%), Gold (0.36%) and S&P/TSX global gold index (-1.50%).
• The performance of the UG 20 constituent companies was mostly negative with 14 out of 20 companies recording negative performance while 5 companies reported positive performance for the week. Rest of the companies did not report any change.