UG Gold Report_VR_Oct 24'11
-
Upload
canrajkumar -
Category
Documents
-
view
219 -
download
0
Transcript of UG Gold Report_VR_Oct 24'11
-
8/3/2019 UG Gold Report_VR_Oct 24'11
1/13
AboutTheUbikaGold50Index
Forinvestorslookingtofindthenextinvestmenthome-run,webelievethatjuniorgold
explorationcompaniespresentthemostcompellingcase.Thisisespeciallytruenowwhenthe
priceofgoldseemstobeinasecularuptrend.Thepriceofgoldrecentlyreachedanalltime
highofover$1921.15perounce(innominaltermsforDecemberfutures)andwebelievethis
upwardtrendwillcontinuefortheforeseeablefuture,althoughtherecouldbesomecorrections
alongtheway.
Formostsmallcapinvestorsthereisalackofgoodquality,widelyavailableresearchand
informationonpromisingjuniorgoldexplorationcompanies.UbikaResearch,throughour
portalSmallCapPower.com,isfillingthisgapbyofferingqualityinformationandresearchon
smallcapcompanies.ThereleaseoftheUbikaGold50Indexisacontinuationofourcommitmenttoprovidehighqualityresearchandinformationtosmallcapinvestors.
Afterextraordinaryinvestorinterest,UbikaResearch,thepremiersmallcapresearchandcapital
marketsfirm,haslaunchedthetheUbikaGold50Index.Theindexcomprisesof50promising
juniorgoldexplorationcompanies.Weusevariousproprietarycriteriainselectingthese
companiesincludingmarketcapitalization,tradingvolume,explorationlocation,typeandsizeof
depositsandtheexplorationstage.Mostofthecompaniesintheindexareeitherunderour
comprehensiveresearchcoverageorarecompaniesthatwehaveprofiledunderourweekly
seriesJuniorResourceStockWatchlist.
ToviewallthecompaniesintheUbikaGold50Index,readtheirreportsandviewCEOvideo
interviewspleasevisithere.
ThestartingpointfortheIndexisFebruary1,2010.ThevalueoftheIndexisbasedonthe
marketcapitalizationofthe50companiesintheIndex.Wearetrackingtheperformanceofthe
indexbasedonthechangeinthecumulativemarketvalueofall50companies.
AboutTheUbikaGold50Report
Thisreportprovidesasummaryofthekeyperformancedatafortheindexanditsconstituents
andalsocomparestheperformanceoftheindexversusthebenchmarkTSXVentureIndexand
SpotGoldprice.
Apartfromtheperformanceoftheindexandchangeinthemarketvalueofeachcompanyin
theGold50list,wealsoprovideasummaryofmajornewsrelatedtothesecompaniesand
highlightoneormorecompaniesintheweeklyUbikaGold50Report.
UbikaResearchwillcontinuouslyevaluatethislistandmakechangesbyeitherincludingnew
promisingcompaniesand/orexcludingthosethatfailtomeetourproprietarycriteria.
October24,2011
Issue#49
-
8/3/2019 UG Gold Report_VR_Oct 24'11
2/13
2
Overall Performance
The Ubika Gold 50 Index (UG 50) has been tracked since February 1, 2010. The
cumulative market capitalization or value of the 50 companies in the Index on
Feb 1, 2010 was C$9,921,832,745 and the market cap based on the closing prices on
October 21, 2011 was C$15,581,593,085 for an increase of 57.04%. In comparison, the
benchmark TSX Venture Index increased from 1509.94 to 1532.91, for an increase of
1.52% during the same time period. The Gold Futures in New York Mercantile Exchange
moved from $1103.10 to $1636.10 per one ounce, an increase of 48.32% from February
1, 2010 to October 21, 2011.
Graph 1 shows the relative performance of the Ubika Gold 50 Index (UG 50) against the
TSXV index and Gold spot prices since the start of the index in terms of percentage
return.
Graph 1: The Ubika Gold 50 (UG 50) Relative Performance
Source: Ubika Research
Gold Canyon Resources Inc. is still the overall top 5 gainer in terms of market cap gain.
Silverquest Resources Ltd. (TSXV: SQI) regained its position in the list this week and
replaced Avion Gold from the list.
The table and graph below show the overall top gainers to date.
Table 1: Top Five Market Cap Gainers (Feb 1, 2010 Oct 21, 2011)
Company Ticker%Change
Gold Canyon Resources Inc GCU 1,410.12%
PMI Gold Corp PMV 727.06%
Silverquest Resources SQI 582.15%
Kaminak Gold Corp KAM 522.06%
Belo Sun Mining BSX 395.85%
-
8/3/2019 UG Gold Report_VR_Oct 24'11
3/13
3
Note: PMI Gold Corp. (TSXV: PMI), Kaminak Gold Corp (TSXV: KAM) and Belo Sun Mining Corp. (TSXV:BSX) were former Ubika Research Junior Resource Stock Watchlist picks. To access the profile report ofthese companies, please visit:
PMI Gold Corp. (TSXV: PMI): http://www.smallcappower.com/PMI_Gold_Corp.aspx
Kaminak Gold Corp (TSXV: KAM) http://www.smallcappower.com/Kaminak_Gold_Corp.aspx
Belo Sun Mining Corp. (TSXV: BSX): http://www.smallcappower.com/Belo_Sun_Mining_Corp.aspx
The Ubika Gold 50 Index Weekly Performance (Week of Oct 17 Oct 21, 2011)
Key Findings for the week of Oct 17 Oct 21 are summarized below:
After only one week of positive returns UG 50 returned back to red as Gold andother precious metals struggled over the week.
The UG 50 underperformed both the TSXV and the Gold Futures over this week.The cumulative market cap of the UG50 companies decreased fromC$16,128,147,176 to C$15,581,593,085, a decrease of 3.39%.
The TSXV also lost this week on high volatility experienced by commodities. Itfinished the week at 1532.91, a decrease of 1.59%.
Gold was very volatile this week on EU concerns and hopes. The Gold futuresclosed at $1636.10 for the week, a decrease of 2.79%.
Most of the UG 50 constituent companies finished the week in red with few
posting moderate returns on positive news.
La Quinta Resources Corp. (TSXV: LAQ) gained more than 35% this week on
the release of the results from its IP survey conducted on its Black Jack project
showed new targets and positive results from the first phase of drilling on
Carruthers Pass volcanogenic massive sulfide project.
-
8/3/2019 UG Gold Report_VR_Oct 24'11
4/13
4
Table 2 and Graph 2 below show the top gainers for this week.
Table 2: Top Market Cap Gainers for the Week of Oct 17 - Oct 21, 2011
Company Ticker%Change
La Quinta Resources Corp LAQ 36.36%
Silverquest Resources SQI 34.67%St Elis Mines Ltd SLI 28.62%
Pelangio Exploration Inc. PX 11.11%
Hy Lake Gold Inc HYL 5.88%
Source: Ubika Research
Graph 2: Top 5 Ubika Gold 50 Market Cap Gainers for the Week Oct 17 Oct 21
Note: La Quinta Resources Corp. (TSXV: LAQ) and Hy Lake Gold Inc. (CNSX: HYL) are under UbikaResearch coverage. Please visit the following company information hub below to view research reports,analyst commentary and CEO video interviews:
La Quinta Resources Corp. (TSXV: LAQ):http://www.smallcappower.com/microsite/la_quinta_research_reports.html
Hy Lake Gold Inc. (CNSX: HYL):http://www.smallcappower.com/microsite/hy_lake_gold_inc_research_reports.html
St. Elias Mines Ltd. (TSXV: SLI) was a former Ubika Research junior Resource Stock Watchlist picks. Toaccess the profile report of these companies, please visit:http://www.smallcappower.com/St_Elias_Mines_Ltd.aspx
-
8/3/2019 UG Gold Report_VR_Oct 24'11
5/13
5
Musings from Ubika
Markets around the globe had a mixed week as investors eagerly awaitthis weekends summit of EU leaders. Optimism that EU leaders willfind some solution to their debt woes lifted some markets but highvolatility in commodities pulled some markets down for the week.
In the U.S., not so discouraging economic data coupled with strongquarterly earnings results from blue chips lifted two of the three majorindices into weekly gains. The Dow posted its fourth week of gains to
complete this week with a 1.4% gain. The S&P 500 had its longest weekly gains sincethe beginning of the year as it posted 1.1% gain for the week. The Nasdaq couldntmaintain the same momentum as it slid by 1.1% for the week.
In Canada, both the major indices were down for the week, as high volatility incommodities pulled down the market and as core inflation came to more than expectedlevel. The TSX index finished 1.1% lower and the Venture index lost 1.6% for the week.Other markets had a similar story with mixed results as investors sought assurance and
looked for signs of optimism from EU leaders before committing to the equity markets.Commodities had a very volatile week in which most finished lower. Crude oil gained0.7%, its third week of gains, but Gold and Silver which increased strongly on Fridayafter falling for the first four days finished the week lower. Gold finished at $1631.10, adecrease of 2.8% compared to last week and silver lost 3% as both precious metalsseek direction in coming months. We continue to believe that gold is forming a base atthe current level of $1600, which will be beneficial for the bullion price in the long run.
Just a week of positive returns, the UG50 again finished the week in the red as investorswait for the EU leaders decision before moving back to small caps.
-
8/3/2019 UG Gold Report_VR_Oct 24'11
6/13
6
Company Spotlight: La Quinta Resources Corp. (TSXV: LAQ)
The company in focus this week is La Quinta Resources Corp. (TSXV: LAQ). LAQ is aCanadian Junior minerals Exploration Company focused on Gold and Silver explorationin US and Canada. The companys current focus is on its Easter project and Black Jack
properties in Nevada and its Carruthers Pass volcanogenic massive sulfide project inBritish Columbia, Canada.
Whats interesting about LAQ?
A promising junior resource company with high potential exploration projects inNevada, U.S.A. The companys main focus is currently on its two projects named
the Easter Project in the Lincoln County in Nevada, U.S.A and the Black Jack
Project in the Elko County, Nevada, U.S.A. it has also recently acquired a
highligy prospective project named Carruthers Pass volcanogenic massivesulfide project in British Columbia, Canada.
The flagship project for the company is the Easter Property. This property hasbeen extensively explored in the past and has strong exploration potential.
Several operators have explored this property previously and have drilled morethan 100 drill holes.
All current exploration projects for the company are located in Nevada, U.S.A andBritish Columbia, Canada, which are known to be low risk and mining friendly
jurisdictions.
Encouraging high grade trenching results of April 2011 at the Easter Projectconfirms significant exploration potential of the company.
The company has commenced a follow-up summer drilling program at the EasterProperty, which resulted in new finds of 4 g/t gold and 34 g/t silver.
The company has a strong management team and NI 43-101 resource estimateof approximately 110,000 oz of gold and gold equivalent in the indicated
category.
La Quinta Resources Corp. (TSXV: LAQ) is under Ubika Research coverage. Pleasevisit the following company information hub below to view research reports, analystcommentary and CEO video interviews:http://www.smallcappower.com/microsite/la_quinta_research_reports.html
-
8/3/2019 UG Gold Report_VR_Oct 24'11
7/13
7
Ubika Gold 50 weekly performance (week ending Oct 21, 2011)
Company Symbol52 Wk
High
52 Wk
Low
Last
Price
M.Cap
14 Oct, 2011
M.Cap
21 Oct, 2011
%
Change
Week
A lamosGoldInc A GI 21. 65 13. 26 16. 37 2,058,746,229 1,933,544,286 -6.08%
A lmadenMine ralsLt d A MM 5. 25 2. 23 2. 44 147,726,138 141,378,044 -4.30%
Atl antaGol dInc ATG 0.19 0.06 0.08 14,634,064 13,719,436 -6.25%
Avi onGol dCorp AVR 2.57 0.76 1.97 983, 050,660 865,326, 453 -11.98%
B2gol dCorp BTO 4.45 2.07 3.24 1,152, 844, 177 1,114,989, 627 -3.28%
Bay fi el dV enture sCorp BYV 1.03 0.41 0. 47 29, 877, 211 28, 943, 549 -3.12%
BeloSunMiningCorp BSX 1. 54 0.51 1. 13 250,651,871 234,079,838 -6.61%
Carpathi an Gol dI nc CPN 0.77 0.38 0. 41 214, 160, 950 175, 611, 977 -18.00%
CliftonStarResource sInc CFO 5. 39 1. 86 2. 90 85,761,384 85,761,384 0. 00%
ColossusMine ralsInc CSI 9. 87 5.14 6. 33 678,892,549 664,202,461 -2.16%
EagleHillExplorationCorp EAG 0.35 0.14 0.16 19,550,352 17,874,608 -8.57%
GoldCanyonResourcesInc GCU 4.22 0.78 2.29 256,962,298 229,860,807 -10.55%
Go ld- Ore Re sou rce sLtd GOZ 1.14 0.66 0. 86 70, 677, 453 73, 232, 063 3.61%
GowestGoldLtd GWA 0.43 0.17 0.25 24,743,105 24,743,105 0.00%
GuyanaGoldfieldsInc GUY 11. 79 6. 82 8. 19 703,031,164 685,455,381 -2.50%HYLakeGoldInc HYL 0.15 0.60 0.18 7,080,355 7,496,847 5.88%
K am inak Gol dCo rp K AM 4.71 2 .30 2. 73 213, 112, 535 188, 283, 897 -11.65%
Kee ganResource sInc KGN 9. 59 4. 57 5. 52 418,030,676 415,771,035 -0.54%
Ki skaMe tal sCorp KSK 1.74 0.36 0.37 42, 182,764 36,723, 818 -12.94%
LaQuintaResource sCorp LA Q 0. 13 0. 05 0. 08 4,729,909 6,449,877 36. 36%
Lex amV GGol dInc LEX 1.52 0.30 0.38 90, 218,107 85,707, 200 -5.00%
Mage llanMine ralsLt d MN M 1. 94 0.50 0. 55 65,686,923 60,213,011 -8.33%
Me adowBayGoldCorp. MA Y 2. 01 0. 13 1. 24 49,073,826 51,569,108 5. 08%
Me tanorRe source sInc MTO 0. 48 0.21 0. 34 71,598,847 68,573,547 -4.23%
N ort he rnGoldMiningInc N GM 0. 64 0. 25 0. 26 42,078,651 38,451,180 -8.62%
NovaGoldResourcesInc NG 16.92 6.26 7.64 1,800,189,111 1,831,725,876 1.75%
NWMMi ni ngCorp NWM 0.20 0.09 0.10 48, 828,552 44,582, 589 -8.70%
O rvanaMine ralsCorp O RV 3. 97 1. 36 1. 58 229,022,969 215,390,662 -5.95%
ParamountGoldandSilver PZG 4.40 1.58 2.42 292,838,649 278,079,547 -5.04%P cGo ld I nco rp orate d P KL 1.16 0.39 0. 43 34, 727, 606 28, 383, 141 -18.27%
P el an gi oEx pl orati onI nc P X 1.31 0.41 0. 50 62, 158, 858 69, 065, 400 11.11%
Pet aquillaMine ralsLtd PTQ 1. 36 0. 57 0. 69 148,146,853 152,603,642 3. 01%
PMIGoldCorp PMV 1.30 0.36 1.05 206,148,932 212,175,695 2.92%
Pre mierGoldMine sLtd PG 8. 00 4. 56 5. 19 649,728,057 632,662,045 -2.63%
Que enstonMiningInc QMI 8. 07 4. 12 5. 50 466,118,623 453,743,785 -2.65%
RainyRiverResourcesLtd RR 13.50 5.66 6.45 600,755,808 540,428,843 -10.04%
Rom arco Mi ne ral sI nc R 2.88 0.92 1. 00 578, 771, 183 573, 279, 300 -0.95%
RubiconMine ralsCorp RMX 6. 50 3. 05 3. 66 838,664,769 864,651,596 3. 10%
RXEx pl orati onInc RXE 0.69 0.31 0.38 65, 069,335 62,566, 671 -3.85%
Rye P atch Go ldCo rp RPM 0.48 0.22 0. 40 48, 820, 159 50, 077, 961 2.58%
SanGoldCorp SGR 4.09 1.90 1.99 646,809,672 620,276,635 -4.10%
SandspringResourcesLtd SSP 3.75 1.33 1.52 170,206,689 164,786,086 -3.18%
S eaf ie ldRe so urce sLtd SF F 0.77 0 .17 0. 19 35, 200, 451 31, 855, 647 -9.50%
SilverQuestResourcesLtd SQI 1.28 0.44 1.17 95,554,711 128,680,105 34.67%
StAndrewGoldfieldsLtd SAS 1.60 0.45 0.47 187,681,934 174,801,803 -6.86%
S tEl ias Mi ne sLtd SLI 2.80 1.43 2. 49 219, 492, 308 282, 308, 731 28.62%
Te me xRe sou rce sCorp TME 0.47 0.17 0. 22 24, 174, 502 24, 174, 502 0.00%
USGoldCorp UXG 9.44 3.45 4.01 593,353,472 546,976,462 -7.82%
V icto ri aGo ld Co rp V IT 1.55 0.32 0. 44 135, 743, 380 123, 277, 147 -9.18%
V istaGol dCorp V GZ 4.55 2.30 3.19 254, 838,392 227,076, 677 -10.89%
INDEX Ubika Gold 50 16,128,147,176 15,581,593,085 -3.39%
TSXV INDEX 1,557.61 1,532.91 -1.59%
Gold Spot (New York) 1,683.00 1,636.10 -2.79%
-
8/3/2019 UG Gold Report_VR_Oct 24'11
8/13
8
Key Ubika Gold 50 Company News during the week of Oct 17 - Oct21, 2011:
Magellan Minerals Ltd.: Drilling at Serra Intersects 4m @ 7.16 g/t Gold CoringaProject, Brazil
Magellan Minerals Ltd. is pleased to report results from nine additional drill holes from
the Serra, Come Quieto, Valdette, and Meio zones at the Coringa project, Brazil.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14698321
New Gold Agrees to Acquire Silver Quest Resources - Consolidates Ownership ofBlackwater Project in British Columbia
Vancouver, B.C, Oct. 17, 2011 /PRNewswire via COMTEX News Network/ --
New Gold Inc. (TSX:NGD) and Silver Quest Resources Ltd. today jointly announce abinding letter agreement whereby New Gold will acquire all of the outstanding commonshares of Silver Quest.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14698876
Queenston Announces an Initial NI 43-101 Resource at Bidgood and New DrillingResults Including 38.8 g/t Au Over 4.0 m True Width
TORONTO, ONTARIO, Oct 17, 2011 (Marketwire via COMTEX News Network) --
QUEENSTON MINING INC. is pleased to announce an initial National Instrument ("NI")43-101 open-pit mineral resource estimate and new drilling results for Bidgood propertylocated in Lebel Township, Kirkland Lake, Ontario.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14699271
Atlanta Gold Updates Drilling Results for Potential Bulk Minable Widths andGrades
TORONTO, Oct. 18, 2011, 2011 (Canada NewsWire via COMTEX News Network) --
Atlanta Gold Inc. announces drill results from two additional holes from its drillingprogram in the Buffalo Mine zone of the Atlanta shear at its Atlanta property in Idaho.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14703686
Carpathian Temporarily Suspends Construction of RDM Gold Project in Brazil andAmends Terms of "Bought Deal" Financing
TORONTO, ONTARIO, Oct 18, 2011 (Marketwire via COMTEX News Network) --
Carpathian Gold Inc. wishes to report that it has been advised of a decision by COPAM,one of the Brazilian environmental authorities having jurisdiction over its RDM goldproject advised not start any installation work on the Project until the License is ratifiedby COPAM, pending their further review of technical documents.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14704883
Atlanta Gold Inc. to Complete $4,000,000 Private Placement
-
8/3/2019 UG Gold Report_VR_Oct 24'11
9/13
9
TORONTO, Oct. 18, 2011, 2011 (Canada NewsWire via COMTEX News Network) --
Atlanta Gold Inc. announces that it intends to complete a non-brokered privateplacement of up to 50,000,000 Units at a price of $0.08 per Unit for gross proceeds of upto $4,000,000.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14705333
Rubicon Announces 12 Month, C$55 Million Development and ExplorationProgram, Phoenix Project, Red Lake, Ontario
TORONTO, Oct. 19, 2011 /PRNewswire via COMTEX News Network/ --
Rubicon Minerals Corporation is pleased to outline development and exploration plansfor the following twelve months at its 100% owned Phoenix Gold Project, located in theheart of the prolific Red Lake Gold District.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14706880
Magellan Stakes Additional 57,000 ha in Tapajos Region of Brazil
Vancouver, BC, Oct 20, 2011 (MARKETWIRE via COMTEX News Network) --
Magellan Minerals Ltd. is pleased to announce that it has staked an additional 57,000 haof ground within the Tocantinzinho Trend of the Tapajos Gold Province.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14709596
Bayfield Drills 5.5m of 20.23 g/t Gold and 39.19 g/t Silver Near Surface in RainyRiver, NW Ontario
Vancouver, BC, Oct 20, 2011 (MARKETWIRE via COMTEX News Network) --
Bayfield Ventures Corp. is pleased to announce additional significant gold and silver
intercepts on its 100% owned Burns Block property in the Rainy River District of north-western Ontario.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14710675
Rye Patch Acquires Land at the Lincoln Hill Project
Vancouver, BC, Oct 21, 2011 (Marketwire via COMTEX News Network) --
Rye Patch Gold Corp. through its wholly owned subsidiary Rye Patch Gold US Inc.announces that it has entered into a lease agreement with Nevada Land and ResourceCompany, LLC for three parcels of land in Pershing County, Nevada, totalingapproximately 2.1 square kilometers.http://smallcappower.stockgroup.com/financial_news.asp?storyid=14713804
-
8/3/2019 UG Gold Report_VR_Oct 24'11
10/13
10
Vikas Ranjan, Managing DirectorPhone: (647) 352-2666Email: [email protected]
Vishy Karamadam, Managing DirectorPhone: (647) 352-0666Email: [email protected]
Raj Ravindran, Research AssociatePhone: (647) [email protected]
Doug Morrison, DirectorPhone: (647) 352-0687Email: [email protected]
Contact Us:
See following pages for important disclosure:
700 - 36 Lombard Street
Toronto, Ontario
Canada M5C 2X3
T: 416-646-1941
F: 416-646-1942
Email: [email protected]
925 West Georgia Street, Suite 900
Vancouver, British Columbia
Canada V6C 3L2
T: (604) 484-5761
F: (604) 484-5761
Web: www.ubikaresearch.com
UBIKA RESEARCH
RESEARCHING THE UNDER-RESEARCHED
-
8/3/2019 UG Gold Report_VR_Oct 24'11
11/13
11
Disclosure
Ubika Research Disclaimer
This report has been prepared by Ubika Research, a division of Ubika Corporation.
Copyright
This report may not be reproduced in whole or in part, or further distributed or published orreferred to in any manner whatsoever, nor may the information, opinions or conclusions
contained in it be referred to without in each case the prior express written consent of Ubika
Corporation.
Disclaimer
Certain companys profiled in this report have entered into a commercial relationship with Ubika
Corporation, our partners or our affiliates for research coverage and capital market services and
paid fees and or shares or stock options or warrants for being mentioned at smallcappower.com
and in this report. Hence the highlighted company information in this report is an advertisement
only and does not and will not constitute an offer to buy or sell securities in the highlighted
company.
Ubika Corporation is not registered with any financial or securities regulatory authority, and does
not provide nor claims to provide investment advice or recommendations to readers of this report.
The information in this report is designed to present the opinion of Ubikas analysts and what they
believe to be the objective prospects or information on the companies mentioned in this report.
Where reference is made to estimates of value or relative value of a specific company, those are
purely opinions of Ubika Research. There is no guarantee that these estimates are reliable or will
materialize. They should not be relied upon in making specific investment decisions and readers
should seek advice based on their risk profile and investment requirements from a person
qualified and authorized to provide advice. This report does not constitute an offer or invitation topurchase or acquire any shares or securities in any company or any interest therein, nor shall it
form the basis of any contract entered into for the sale of shares or securities in any company.
The information in this report is believed to be correct, but its accuracy, timelines or completeness
cannot be guaranteed. No representation or warranty, express or implied, is given by any person
as to the accuracy or completeness of the information and no responsibility or liability is accepted
for the accuracy or sufficiency of any of the information, for any errors, omissions or
misstatements, negligent or otherwise. Ubika Research did not make an independent
investigation or inquiry as to the accuracy of any information provided on any of the companies
mentioned in this report.
Readers of this report are advised to conduct their own due diligence before investing in any ofthe companies mentioned in this report. Readers of this report are informed that the value of
shares in the highlighted company or companies mentioned in this report may go up or down.
Past performance is not necessarily a guide to future performance. Readers of this report are
advised that Ubika Corporation (including its directors, employees and representatives) or a
connected person will have positions in or options on the securities detailed in this report, and
may buy, sell or offer to purchase or sell such securities from time to time. Hence any mention of
companies in this report should be treated merely as a commercial advertisement and does not
constitute a recommendation or an offer to buy or securities.
-
8/3/2019 UG Gold Report_VR_Oct 24'11
12/13
12
Independence, Objectivity & Best Practices
Unless otherwise noted, research reports by Ubika Research, a division of Ubika Corporation, are
often paid for on a fixed fee basis by the company under coverage directly or by financial
intermediaries and investment relation firms working on the behalf of those companies. Ubika
Corporation can also at times receive options to purchase shares from the companies under its
research and capital market exposure services program. Since Ubika Corporation and itsdivisions including Ubika Research and SmallCapPower.com receive such compensation, there
is an inherent conflict of interest in Ubika Researchs research statements and opinions and we
do not make any claim of such statements and opinions being independent. Readers of this
report should not rely on this report for making any investment decision and are advised to
conduct their own due diligence before investing in any companies mentioned in this report.
Note: Ubika Research has NOT visited various mining sites to do any independent physical
assessment of any company mentioned in this report.
Safe Harbour Statement for US Residents/ Investors
The information set forth in this report may contain forward-looking statements. Statements inthe report, which are not purely historical, are forward-looking and include statements regarding
beliefs, plans, expectations or intentions regarding the future.
Except for the historical information presented herein, matters discussed in this document contain
forward-looking statements that are subject to certain risks and uncertainties that could cause
actual results to differ materially from any future results, performance or achievements expressed
or implied by such statements. Statements that are not historical facts, including statements that
are preceded by, followed by, or that include such words as estimate, anticipate, believe,
plan, intend, expect, may or should or similar statements are forward-looking statements.
Risks and uncertainties for the company include, but are not limited to, the risks associated with
the impact of general economic conditions in countries in which the company conducts business,the impact of competitive products and pricing, product demand and market acceptance, new
product development, the continuation and development of key customer and supplier
relationships, and the availability of high quality, qualified personnel and management.
Other risks include but are not limited to factors affecting development and expansion activities
generally including access to capital to meet all of the highlighted companys financial
requirements, and the companys ability to control costs. There can be no assurance that the
highlighted companys efforts will succeed and the company will ultimately achieve sustained
commercial success. These forward-looking statements are made as of the date of this
document, and neither Ubika Corporation nor the highlighted company assumes any obligation to
update the forward-looking statements, or to update the reasons why actual results could differfrom those projected in the forward-looking statements. Although management of the highlighted
company have advised Ubika Corporation that they believe that the plans, expectations, beliefs
and intentions contained in the information provided to Ubika Corporation and reproduced in the
report are reasonable, there can be no assurance those beliefs, plans, expectations or intentions
will prove to be accurate.
The forward looking statements contained in the document have been prepared by management
of the highlighted company who believe and have so advised Ubika Corporation, without
independent verification by Ubika Corporation that a reasonable basis exists for making such
-
8/3/2019 UG Gold Report_VR_Oct 24'11
13/13
13
statements.