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Perseus Mining added to S&P/ASX 200 Index in rebalance

Paradigm Biopharmaceuticals has been added to the S&P/ASX 300 Index while Alkane Resources, De Grey Mining, Legend Mining, Greenland Minerals and Salt Lake Potash are additions to the All Ordinaries index.

Perseus Mining Ltd - Perseus Mining added to S&P/ASX 200 Index in rebalance
The index rebalances will take effect on June 22, 2020

Perseus Mining Limited (ASX:PRU) (TSE:PRU) (OTCMKTS:PMNXF) is a major beneficiary of S&P Dow Jones Indices rebalance in the S&P/ASX indices being added to the S&P/ASX 200 Index.

This change will be effective at the open of trading on June 22, 2020.

In the past 12 months the market cap of the West African gold miner, developer and explorer has increased to approximately A$1.448 billion.

The share price has increased from A44 cents on June 9, 2019, to A$1.345 on May 31, 2020, which represents a new seven-year high, and the company closed yesterday at A$1.24.

Paradigm advanced

At this annual rebalance, the entire S&P/ASX index hierarchy is reviewed, including the All Ordinaries.

Biopharma company Paradigm Biopharmaceuticals Ltd (ASX:PAR) has also benefited through addition to the S&P/ASX 300 Index.

Shares last traded at A$2.99 and since March 22 have risen from A$1.08 to A$3.44 on May 31.

Paradigm has a market cap of approximately A$672 million.

All Ordinaries additions

The rebalance has also seen a number of companies added to the All Ordinaries index, including gold-focused Alkane Resources Limited (ASX:ALK) (OTCMKTS:ALKEF) and De Grey Mining Limited (ASX:DEG) (OTCMKTS:DGMLF) (FRA:DGD).

Alkane is producing from its Tomingley Gold Operations in Central West NSW and has had exploration success in the last 12 months at near-mine targets along with the Boda discovery to the northeast.

Shares have risen from A46.5 cents on March 17 to A$1.03 yesterday and the company has a market cap of approximately A$574.2 million.

De Grey has had strong newsflow from its Pilbara gold projects and the share price has risen from A5.1 cents at the start of 2020 to A68 cents on June 9 and is now trading at A63 cents while the company has a market cap of approximately A$737.9 million.

Other additions to the All Ordinaries index effective at the open on June 22, 2020, are Greenland focused rare earths company Greenland Minerals Ltd (ASX:GGG) (OTCMKTS:GDLNF), Fraser Range nickel-copper sulphides explorer Legend Mining Limited (ASX:LEG) and WA sulphate of potash developer Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF).

Quick facts: Perseus Mining Ltd

Price: 1.41 AUD

Market: ASX
Market Cap: $1.73 billion

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