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Integra Mining, Silver Lake Resources, Alkane Resources added in S&P Indices quarterly ASX rebalance

The recent quarterly rebalance of S&P Indices shows the success with which miners continue to lead the way in the Australian market.


While only a slight rebalance of the S&P/ASX Indices for the December quarter, mining stocks continued to dominate the top 200 entrants.

The S&P/ASX 200 Index added four stocks and removed four, with the changes to be effective after the close of trading on Friday 16 December 2011, as a result of the December quarterly review.
The importance of being in the index is that more funds tend to invest in these companies, boosting demand for stocks in the indexes. 

Entering the S&P/ASX 200

Coming into the index is Integra Mining (ASX: IGR), with the company in a very interesting exploration phase as it continues to reveal high grade gold mineralisation at its Randalls Gold Project in Western Australia.

Other additions include mining instrumentation supplier Imdex (ASX: IMD) and gold miner Ramelius Resources (ASX: RMS), along with Silver Lake Resources (ASX: SLR) which recently announced plans for a A$70 million capital raising to develop its Murchison Gold Project and accelerate copper exploration.

Dropping out of the S&P/ASX 200

It was not just the mining stocks feeling the re-rating wrath of the S&P, with recently listed New Zealand telecommunications business Chorus Limited (ASX: CNU) booted off the list. 

Forestry company Gunns (ASX: GNS) also found itself out in the cold, along with Murchison Metals (ASX: MMX) and OM Holdings (ASX: OMH).

S&P/ASX 200 All Australian Index changes

Joining the top 200 All Australian stocks was Alkane Resources (ASX: ALK), which is moving closer towards development of its 660,000 ounce Tomingley Gold Project in New South Wales.

Indophil Resources (ASX: IRN) and Nexus Energy (ASX: NXS) also made their way onto the list.

S&P/ASX 200 All Australian Cuts

Unfortunately for Gunns, Murchison Metals and OM Holdings, they found themselves evicted from the S&P/ASX 200 All Australian list as well.

S&P/ASX 50 – S&P/ASX 50 All Australian

Stocks on the S&P ASX 50 and the S&P ASX 50 All Australian indexes managed to escape the December quarterly rebalance unscathed, with no changes made to the exclusive top 50 club. 

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