Ubika Gold 20 Report July 28, 2014

The top Ubika Gold 20 gainers for the week ending July 25, 2014 include: Romarco Minerals Inc (TSX: R), B2Gold Corp (TSX: BTO), Rio Alto Mining Ltd (TSX: RIO) and Dalradian Resources Inc (TSX: DNA). To view the complete Ubika Gold 20 index report, click on the download link.

Key Findings for the week:

• Romarco Minerals Inc (TSX: R) was the top gainer of the week after climbing 9.6%. The company’s market capitalization rose on the announcement of Final Environmental Impact Statement (EIS) publication for the Haile Gold Mine project by the US Army Corps of Engineers. Moreover, analysts at BMO Capital Markets and Desjardins Securities upgraded the stock boosting their price target.
• The UG 20 index declined marginally by 0.80% to close at 109.08. It underperformed TSXV index (0.51%) and S&P/TSX global gold index (0.15%).
• The performance of the UG 20 constituent companies was mostly negative with 12 out of 20 companies recording negative performance while only seven companies reported positive performance for the week. The decline was majorly due to decline in gold price.