NEW YORK, NY -- (Marketwire) -- 04/01/10 -- 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.
Buy-Side Research Analyst,
Khandaker Advisors & Co.
New York Tel: (646) 783-7552
Fax: (212) 346-0670
E mail: Email Contact