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85.0¢ medusa mining limited

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thecone

2,490 Posts.

127

14/03/18

16:17

Post #: 31751986
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Originally posted by nordesmic ↑

Nah MML a long way off GDXJ. Even though the market cap is the same as BDR now it's not quite that simple. For entry into the index a company must be over US$150M market cap and have US$1M a day turnover. However once you are included in the index to be kicked out your market cap needs to fall below US$75M or liquidity to drop well below Us$1M (could be as low as $250K, can't remember). Usually has to be average over a quarter or two as well.

The turnover would be the real problem for entry. Would need the share price to be over $1 I think and trading interest to return to the gold sector. DCN has US$450M market cap now and still doesn't meet the turnover requirement.

In any case I don't really care if MML stays out of the GDXJ. Frequently the addition/deletions have been contrarian indicators, ie buy a company when it gets removed and sell when it gets added.

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Thanks northern one good explanation.
Cheers tc

MML Price at posting: 59.5¢ Sentiment: Buy Disclosure: Held
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