Market Vectors® Junior Gold Miners Index (MVGDXJ)
The quarterly review produced 23 additions (18 Canadian stocks) and 4 deletions (all Canadian) from the index. The changes of the index components will be implemented after the close of trading on Friday, June 17th, 2011 and will be effective the next trading day.
Adds | Est Demand / Supply | |
FVI CT Equity | FORTUNA SILVER MINES INC | 4,260,779 |
BCM CV Equity | BEAR CREEK MINING CORP | 2,612,782 |
MAG CT Equity | MAG SILVER CORP | 1,532,146 |
OK CV Equity | ORKO SILVER CORP | 4,391,395 |
GPR CT Equity | GREAT PANTHER SILVER LTD | 4,467,599 |
ECU CT Equity | ECU SILVER MINING INC | 10,657,909 |
AUMN UA Equity | GOLDEN MINERALS CO | 407,051 |
AVR CT Equity | AVION GOLD CORP | 13,222,891 |
TXG CT Equity | TOREX GOLD RESOURCES INC | 11,968,748 |
TRR CV Equity | TRELAWNEY MINING AND EXPLORA | 3,874,626 |
AR CT Equity | ARGONAUT GOLD INC | 2,960,120 |
ATC CV Equity | ATAC RESOURCES LTD | 2,528,876 |
SUE CT Equity | SULLIDEN GOLD CORP LTD | 6,732,300 |
ORE CT Equity | OREZONE GOLD CORP | 2,527,123 |
PZG UA Equity | PARAMOUNT GOLD AND SILVER | 3,146,107 |
EDV CT Equity | ENDEAVOUR MINING CORP | 4,002,054 |
BRD CT Equity | BRIGUS GOLD CORP | 5,815,474 |
P CT Equity | PRIMERO MINING CORP | 1,937,853 |
Dels | ||
ANV US Equity | ALLIED NEVADA GOLD CORP | 2,849,000 |
DGC CN Equity | DETOUR GOLD CORP | 2,226,000 |
ASR CN Equity | ALACER GOLD CORP | 9,581,950 |
EGU CN Equity | EUROPEAN GOLDFIELDS LTD | 4,778,200 |
I was sent this info by several readers (i thank them all) as to why many of the stocks on the list were rallying while the rest of the sector found itself in the doghouse. It makes sense in yesterday's rallies of many issues, from the good silver stocks all the way down to the crud included, like ECU Silver (ECU.to). As well as that table, here's an example mail from reader "T", received this morning (permission to reproduce granted) and I agree with every point he made, fwiw:
Otto, I think the Bear creek rally yesterday was mostly, or at least partially due to their inclusion in the GDXJ, the junior gold ETF. As well as FVI, MAG, GPR, ATC, ECU and roughly 20 others. Look at the action in those vs the peers yesterday. Removed from the index were DGC, EGU, ANV, and Alacer. The index has an enormous effect on small companies. I think its about $2 billion in assets now, so a typical 0.5-1% position is $10-20 million. As an example, that's 2-4 million shares of BCM. Nuts. Funds obviously front run the ETF as you can see, which only makes me wonder why the changes are announced prior to the GDXJ purchases. I guess by law an ETF must disclose the changes so that a potential buyer knows what he is buying. It certainly sets up for some funny business.