New Ubika Base Metals 20 Index Surges 13%

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As base metals prices improve, will miners get back in the groove?

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To further differentiate our Ubika Indexes, Ubika is transitioning into a new base-metals index. The previous Metals Index was similar to the S&P Global Mining Index, however, its performance was muted due to the high variability of its constituents. For example, the previous Ubika Mining 20 Index had copper, zinc, diamonds, gold, lithium, platinum, rare metals, silver, and uranium leverage. The issue at hand was the index traded with little traceable context to price movements in any commodity. For instance, with respect to the performance of the Index since the last report date, a significant upward movement in Copper Mountain, Taseko, Lithium Americas, were offset by a significant negative performance in the two diamond companies, Lucara and Stornoway and the silver developer, Bear Creek Mining. The net result was an index with too many moving parts that moved with different market forces.

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