This week’s top market cap gainer is Sandspring Resources Ltd. (TSXV: SSP), which rose 4%. The company is developing its Toroparu Gold Project in Guyana. Recently, the company announced that it has closed a non-brokered private placement of over 10 million units of the company at a price of C$0.20 per unit for aggregate gross proceeds of over $2 million.
No other constituent company of the index reported positive performance. To view the complete Ubika Gold 20 index report, click on the download link.
Key Findings for the week:
- Sandspring Resources Ltd. (TSXV: SSP) was the top performer of the week with 4% gain in price and 12% gain in the market capitalization. The company gained in value due to the recent positive development on its Toroparu Gold Project, Guyana. Recently, the company announced that it has closed a non-brokered private placement of over 10 million units of the company at a price of C$0.20 per unit for aggregate gross proceeds of over $2 million.
- The UG 20 index declined 16.83% last week to close at 78.94 from the previous close of 94.92. It underperformed the TSXV index (-4.45%), gold (-4.72%) and S&P/TSX global gold index (-15.57%).
- The performance of the UG 20 constituent companies remained negative with 19 out of 20 companies recording negative performance while the remaining 1 company ended positive.
Interested in previous UG20 reports?
Here’s the archive link.
https://smallcappower.com/wp-content/uploads/cloud.modyocdn.com/uploads/10191310635b11e4872091fe60403202/original/UG20-03-Nov.pdf
