Caledonia Mining is to be included in the MVIS Global Junior Gold Miners (GDXJ) Index for the first time. This follows the index’s first-quarter review for 2021.
Caledonia Mining owns and operates the Blanket mine, in Zimbabwe, where the Central shaft is due to be commissioned before the end of the first quarter, extending the life of the mine to 2034, as well as increasing output.
The GDXJ Index forms the basis of various passive gold sector investment funds in the North American market, the most significant being the $5.2-billion VanEck Vectors Junior Gold Miners exchange-traded fund.
The addition of Caledonia to the index will occur on March 19.
CEO Steve Curtis says the listing of the company’s shares on the NYSE American has increased the miner’s liquidity significantly and its inclusion on the index should “further raise [its] profile among retail and institutional investors”.
“The addition of Caledonia to the index will be an important milestone for our business and will come at an exciting time for the company with the commissioning of Central shaft due to be completed in the first quarter of this year,” he comments.