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Klondex Mines Ltd set for inclusion in Russell 3000 Index

Last updated: 08:44 23 Jun 2017 EDT, First published: 03:44 23 Jun 2017 EDT

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Klondex joins the Russell 3000

Junior gold and silver miner Klondex Mines Ltd (NYSE:KLDX, TSE:KDX) is to be added to the Russell 3000 Index - increasing exposure to a broad base of investors.

The index measures the performance of the 3,000 largest publicly held US companies by total market cap and represents around 98% of the American public equity market.

Top ten holdings include Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN) and ExxonMobil (NYSE:XOM).

As at the end of March, it had a weighted average market capitalization of almost $140bn and is seen as a benchmark of the whole US stock market.

"Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies," said Klondex in a regulatory statement.

Significantly, around $8.4trillion in assets is benchmarked against Russell's US indexes.

Klondex will be included after the US market opens on June 26, according to a preliminary list of additions posted June 9.

Klondex has three producing mineral properties -  the Fire Creek mine and the Midas mine and ore milling facility in Nevada, US and the True North gold mine and mill in Manitoba, Canada.

It has also recently acquired two projects -  the Hollister mine and the Aurora mine and ore milling facility, also in Nevada.

An 'aggressive' 2017 for Klondex Mines as they take two of their projects...

Paul Huet, president and CEO of Klondex Mines Ltd (TSE:KDX, NYSE:KLDX) tells Proactive they're a gold producer with four main assets - two of which are being put into production this year. They have three assets in Nevada - Fire Creek, Midas and Hollister which they're building. Huet...

on 08/01/2017