The top Ubika Mining 30 gainers for the week July 14 – July 18, 2014 include Mag Silver Corp. (TSX: MAG), Denison Mines Corp. (TSX: DML), Fortune Minerals Ltd. (TSX: FT) and Alderon Iron Ore Corp. (TSX: ADV). To view the complete Ubika Mining 30 index report, click on the download link.
Key Findings for the week of July 14 – July 18, 2014 are summarized below:
•Mag Silver Corp (TSX: MAG) was the top performer for the week with 7% gain in market capitalization. During the week, MAG completed its bought deal financing worth $79 million issuing 7.7 million common shares at a price of $10.25. The net proceeds will be used to fund exploration and development of its Juanicipio project in Zacatecas State, Mexico.
• The UM 30 index declined 1.9% this week to end at 73.73 reversing the gains of 0.63% in the previous week. It underperformed the TSX Venture index (-1.05%) and S&P/TSX Global Mining Index (0.41%).
• The TSX Venture index decreased by 10.69 points or 1.05% to close at 1,012.24. The index was down on the worse performance of mining stocks especially gold stocks.
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