RE: Seems WGI is being removed from an indexWGI was:
Removed from the S&P/TSX GLOBAL GOLD INDEX
Removed from the S&P/TSX GLOBAL MINING INDEX
Added to the S&P/TSX SMALLCAP INDEX
No change to the TSX listing. These are all index funds. Of course there are funds that MUST track these indexes which causes forced selling for removal from and index as well as forced buying for inclusion to an index.
This was all announced on Sept. 12th and below is the release in which I've highlighted WGI in red.
IMHO, Although this causes some major volatilityin the stock, most weak hands have been takenout and from here we go up. WGI will be a cash machine in the coming quarters. They just need to prove they can keep costs aligned with their projections. This stock will trade at $4 or higher in the next year.
Good Luck to All!
###############RELEASE############
Standard & Poor's Canadian index operationshave made the following index changes as a result of the quarterly S&P/TSXComposite Index review. These changes will be effective at the open on Monday,Sept. 22, 2008.
S&P/TSX COMPOSITE INDEX
Additions
Live Composite
Issue name Symbol 60/Completion GICS Sector Index
Bankers Petroleum Ltd. BNK Completion Energy
New Gold Inc. NGD Completion Materials
S&P/TSX COMPOSITE INDEX
Deletions
Live Composite
Issue name Symbol 60/Completion GICS Sector Index
CanWest Global
Communications Corp. CGS Completion Consumer discretionary
Centerra Gold Inc. CG Completion Materials
Fronteer Development Group Materials,
Inc. FRG Completion diversified metals and mining
High River Gold Mines Ltd. HRG Completion Materials
Shore Gold Inc. SGF Completion Materials
Changes to the S&P/TSX Composite Index will also affect the S&P/TSX CappedComposite Index. Stocks added to or removed from the S&P/TSX Composite Indexwill also be added to or removed from the appropriate global industryclassification standard (GICS) sector index.
S&P/TSX GLOBAL GOLD INDEX, SEPTEMBER, 2008, QUARTERLY REVIEW
Deletions
Issue name Symbol Exchange
High River Gold Mines Ltd. HRG TSX
International Royalty Corp. IRC TSX
Western Goldfields Inc. WGI TSX
S&P/TSX GLOBAL MINING INDEX, SEPTEMBER, 2008, QUARTERLY REVIEW
Additions
Issue name Symbol Exchange
Mirabela Nickel Ltd. MNB TSX
Natural Resource Partners LP NRP NYSE
Penn Virginia Resource Partners LP PVR NYSE
Southern Copper Corp. PCU NYSE
Walter Industries Inc. WLT NYSE
S&P/TSX GLOBAL MINING INDEX, SEPTEMBER, 2008, QUARTERLY REVIEW
Deletions
Issue name Symbol Exchange
Altius Minerals Corp. ALS TSX
Anatolia Minerals Development Ltd. ANO TSX
Apex Silver Mines Ltd. SIL AMEX
CIC Energy Corp. ELC TSX
High River Gold Mines Ltd. HRG TSX
International Royalty Corp. IRC TSX
Laramide Resources Ltd. LAM TSX
North American Palladium Ltd. PDL TSX
Western Goldfields Inc. WGI TSX
S&P/TSX SMALLCAP INDEX, SEPTEMBER, 2008, ANNUAL REVIEW
Additions
Issue name Symbol
Air Canada AC.B
Altius Minerals Corp. ALS
Anderson Energy Ltd. AXL
Armtec Infrastructure Income Fund ARF.UN
Aura Minerals Inc. ORA
Baffinland Iron Mines Corp. BIM
Bankers Petroleum Ltd. BNK
BFI Canada Income Fund BFC.UN
Bird Construction Income Fund BDT.UN
Boralex Inc. BLX
Breaker Energy Ltd. WAV
Canadian Western Bank CWB
Canfor Corp. CFP
Capstone Mining Corp. CS
Celtic Exploration Ltd. CLT
Centerra Gold Inc. CG
Chemtrade Logistics Income Fund CHE.UN
Churchill Corp. CUQ
Denison Mines Corp. DML
Detour Gold Corp. DGC
Empire Company Ltd. EMP.A
Evertz Technologies Ltd. ET
First Uranium Corp. FIU
FNX Mining Company Inc. FNX
Forsys Metals Corp. FSY
Genivar Income Fund GNV.UN
Grande Cache Coal Corp. GCE
Harry Winston Diamond Corp. HW
Hemisphere GPS Inc. HEM
Homburg Invest Inc. HII.A
Intermap Technologies Corp. IMP
Iteration Energy Ltd. ITX
Ivanhoe Energy Inc. IE
Jean Coutu Group (PJC) Inc. PJC.A
Linamar Corp. LNR
MacDonald Dettwiler and Associates MDA
Maple Leaf Foods Inc. MFI
Mega Uranium Ltd. MGA
MI Developments Inc. MIM.A
Migao Corporation MGO
North American Palladium Ltd. PDL
Northbridge Financial Corp. NB
NovaGold Resources Inc. NG
PDX Resources Inc. PLG
Petro Andina Resources Inc. PAR
Polaris Minerals Corp. PLS
Questerre Energy Corp. QEC
Reitman's (Canada) Ltd. RET.A
Rogers Sugar Income Fund RSI.UN
Sandvine Corporation SVC
Sprott Resource Corp. SCP
Storm Exploration Inc. SEO
Strateco Resources Inc. RSC
Transcontinental Inc. TCL.A
Tusk Energy Corp. TSK
Universal Energy Group Ltd. UEG
Vero Energy Inc. VRO
WebTech Wireless Inc. WEW
Western Canadian Coal Corp. WTN
Western Goldfields Inc. WGI
Westport Innovations Inc. WPT
Xantrex Technology Inc. XTX
S&P/TSX SMALLCAP INDEX, SEPTEMBER, 2008, ANNUAL REVIEW
Deletions
Issue name Symbol
Advantage Energy Income Fund AVN.UN
AltaGas Income Trust ALA.UN
Amerigo Resources Ltd. ARG
Avenir Diversified Income Trust AVF.UN
Axia NetMedia Corp. AXX
Breakwater Resources Ltd. BWR
Celestica Inc. CLS
Chariot Resources Ltd. CHD
Com Dev International Ltd. CDV
Connors Bros. Income Fund CBF.UN
Constellation Copper Corp. CCU
Corriente Resources Inc. CTQ
DundeeWealth Inc. DW
Endeavour Silver Corp. EDR
Enterra Energy Trust ENT.UN
Essential Energy Services Trust ESN.UN
Eveready Income Fund EIS.UN
First Nickel Inc. FNI
Great Lakes Hydro Income Fund GLH.UN
High River Gold Mines Ltd. HRG
International Royalty Corp. IRC
JumpTV Inc. JTV
Kaboose Inc. KAB
Killam Properties Inc. KMP
Labopharm Inc. DDS
Labrador Iron Ore Royalty Income Fund LIF.UN
Livingston International Income Fund LIV.UN
March Networks Corp. MN
Mega Brands Inc. MB
Melcor Developments Inc. MRD
Miranda Technologies Inc. MT
Morguard Real Estate Investment Trust MRT.UN
Mosaid Technologies Inc. MSD
Nevsun Resources Ltd. NSU
Newport Partners Income Fund NPF.UN
Open Text Corp. OTC
Peak Energy Services Trust PES.UN
Progress Energy Trust PGX.UN
QLT Inc. QLT
Quest Capital Corp. QC
SFK Pulp Fund SFK.UN
Total Energy Services Trust TOT.UN
Transition Therapeutics Inc. TTH
Tristar Oil & Gas Ltd. TOG
Zarlink Semiconductors Inc. ZL
ZCL Composites Inc. ZCL
Company additions to and deletions from an S&P index do not in any wayreflect an opinion on the investment merits of the company.