This week’s top gainer is Ivanhoe Mines Ltd. (TSX: IVN), which jumped 16%. The company
recently reported improved metallurgical testwork results for the planned
initial mining area at its Kamoa copper project in the Democratic Republic of
Congo.
Other top Ubika Mining 20 constituent companies for the week ending October 17th 2014 are:
Alderon Iron Ore Corp. (TSX: ADV), Allana Potash Corp. (TSX: AAA) and Avalon Rare Metals Inc. (TSX: AVL). To view the complete Ubika Mining 20 index report, click on the download link.
Key Findings for the week:
• Ivanhoe Mines Ltd-Cl A (TSX: IVN) was the top performer for the week with a 16% gain in market capitalization. The market capitalization rose as the company recently reported improved metallurgical testwork results for planned initial mining area at its Kamoa copper project in the Democratic Republic of Congo.
• The UM 20 index gained 1.74% this week to end at 78.36. It outperformed the TSX Venture index (-2.06%), but underperformed S&P/TSX Global Mining Index (3.09%).
• The TSX Venture index declined 2.06% last week to close at 810.13. The reason for decline was the global economic worries and the plunge in oil prices which pushed the index down to below 770 in early hours of Thursday. The index further gained some value in the late hours of Thursday and Friday on the positive U.S. economic data to finally close at 810.13.
Interested in previous Ubika Mining reports?
Here’s the archive link.
https://smallcappower.com/wp-content/uploads/cloud.modyocdn.com/uploads/de69af00591911e488d8677f13050929/original/21-mining2014.pdf
