This week’s top gainer is Nevsun Resources Ltd. (TSX: NSU), which jumped 16% following media reports that Qatar-backed mining fund QKR was close to making a bid for the Canadian copper miner operating in Eritrea.
Other top Ubika Mining 20 constituent companies for the week ending November 21st 2014 are: Pilot Gold Inc. (TSX: PLG), Balmoral Resources (TSX: BAR)and Paladin Energy Ltd (TSX: PDN). To view the complete Ubika Mining 20 index report, click on the download link.
Key Findings for the week:
• Nevsun Resources Ltd (TSX: NSU) was the top performer for the week with 16% gain in market capitalization. Recently on 13 November 2014, the company announced positive exploration (for sulphide) drilling results from Harena Mining License located 10 kilometers south of the Bisha Mine and processing plant. Also, the management believes the exploration program at Harena continues to demonstrate growth potential.
• The UM 20 index gained 0.69% this week to end at 80.65. It underperformed the TSX Venture index (1.61%) and S&P/TSX Global Mining Index (0.84%).
• The TSX Venture index gained 1.61% last week to close at a two month high of 789.13 on interest rates cut by China and signs that the European Central Bank might step up asset purchases. Recently, Statistics Canada reported that the annual inflation rate in Canada climbed higher than economists’ expectations in the month of October, accelerating to 2.4%.
Interested in previous Ubika Mining reports?
Here’s the archive link.
https://smallcappower.com/wp-content/uploads/cloud.modyocdn.com/uploads/af6918c0749f11e4871279b06cab887d/original/UM20_25Nov.pdf
