SOURCE: Roushan Khandaker Group

Roushan Khandaker Group

April 01, 2010 20:40 ET

Update: Canadian Mining Stocks Moves the Khandaker Mining World™ Index

NEW YORK, NY--(Marketwire - April 1, 2010) -  Khandaker Advisors & Co., a leading global Buy-Side Advisory and risk management firm, today announced the top contributors of the month of its proprietary Khandaker Mining World™ Index which has increased by 16.4% since its inception from average market capitalization of around C$650M to C$805M. The index and some of the members companies will be officially introduced to the Buy-Side community during Khandaker Mining World™ Institutional Conference on April 26-27, 2010. Because Khandaker Mining World™ Index is designed to use by mining focused investment managers and institutional investors of index funds and as benchmarks for both passive and active investment strategies. The recent increase in index was primarily fueled by the up-tick on in the Canadian mining equities, which contributed to the lion share of the top gainers.

Quest Uranium Corp. (TSX-V: QUC) that expands 2010 exploration plans for its Misery Lake REE Project, is the top gainer of the week (up 16%). Labrador Iron Mines Holdings (TSX: LIM), a Canadian-based company, is the second best performer of the week (up 15%). It recently completed C$35 million bought deal financing. Virginia Mines Inc. (TSX: VGQ), which has updated its resource calculation of the Eleonore project held by Goldcorp Inc, with its presence in central part of Quebec share the same position as Labrador Iron Mines Holdings (up 15%). Jinshan Gold Mines Inc (TSX: JIN) (up 12.8%), gold production and acquisitions player, has recently announced some changes in its management. Lundin Mining Corporation (TSX: LUN), a diversified base metals mining company with operations in Portugal, Spain, Sweden and Ireland, with reported net income of $105.2 million (2009), is also among the top Canadian gainer in Khandaker Mining World Index. Seabridge Gold Inc. (TSX: SEA), recently announced closing of US$65.8 Million Offering and completion of Initial 26-Hole Drill Program at its Gold Sands Project (up 9.3%). European Goldfields Limited (TSX: EGU), with 10 million ounces of gold reserves located within the European Union, contributed in growth of the Index. First Majestic Silver Corp (TSX: FR) with its focus in Mexico, has increased its production by 18% and gross revenue to CDN$71.5 million (2009). Comaplex Minerals Corp (TSX: CMF), with its Updated Resource Estimates for Five Separate Gold Deposits on the Meliadine Property gained by 7.3%. And lastly, with the rising Uranium demand and Strong Production Results for Year to Date 2010 and Record 2009 Production and Revenue, Uranium One, Inc. (TSX: UUU) is able to make among the month end top performers (up 7.2%).

The top holdings contributing to the successful growth of Khandaker Mining World™ Index are:

  1. Quest Uranium Corp 
  2. Labrador Iron Mines Holdings 
  3. Virginia Mines Inc. 
  4. Jinshan Gold Mines Inc 
  5. Lundin Mining Corporation 
  6. Seabridge Gold Inc. 
  7. European Goldfields Limited 
  8. First Majestic Silver Corp 
  9. Comaplex Minerals Corp 
  10. Uranium One, Inc. 
  11. Western Copper Corp 
  12. Mega Uranium Ltd 
  13. Harry Winston Diamond Corp 
  14. Centerra Gold Inc 
  15. Aurizon Mines Ltd 
  16. Taseko Mines Ltd 
  17. Inmet Mining Corp 
  18. Copper Mountain Mining Corp 
  19. Nevada Copper Corp 
  20. Colossus Minerals Inc 
  21. Sprott Resources Corp 
  22. Gindalbie Metals Ltd 
  23. Aditya Birla Minerals Ltd 
  24. Silver Lake Resources Ltd 
  25. Western Areas NL 
  26. Orocobre Ltd 
  27. Independece Group NL 
  28. Fronteer Development Group 
  29. Summit Resources Ltd 
  30. Ivanhoe Mines Ltd

The Khandaker Mining World™ Index is designed to use as a benchmarks and the basis for various investment products. Initially launched in March, the index includes companies in precious metals, base metals, coal, uranium and rare earth sectors. The Khandaker Mining World™ Index will let investors to get broad and timely exposure to global metals & mining stocks. Complete details at www.khandaker.com.

Disclosure: The Khandaker Mining World™ Index is not intended as a recommendation to purchase or dispose of shares in its component companies. Company additions to and deletions from a Khandaker Mining World™ Index do not in any way reflect an opinion on the investment merits of the company. The following information is provided as of March 25, 2010 and is subject to change without notice.

Contact Information

  • Amber Khan
    Buy-Side Research Analyst,
    Khandaker Advisors & Co.
    New York Tel: (646) 783-7552
    Fax: (212) 346-0670
    E mail: Email Contact