Inclusion in GDXJBeing in an etf can be either a blessing or a curse. I believe that Timmins was dropped from the GDXJ in 2015. It really hurt the stock at the time.... Could it be blessed and added again? If they were added and the component went to 8%, that is a lot of shares to acquire.
This is what you need to qualify.
https://www.mvis-indices.com/indices/hard-asset/mvis-global-junior-gold-miners
The modified market cap-weighted index tracks the performance of the most liquid junior companies in the global gold and silver mining industry. The pure-play index contains only companies that invest primarily in gold or silver, or generate at least 50% of their revenues from gold or silver mining or own properties that have the potential to generate at least 50% of their revenues from gold or silver mining when developed. The MVIS Global Junior Gold Miners Index (MVGDXJ) has been licensed to underlie financial products with currently USD 4679.89 million in assets under management.
Size and Liquidity Requirements
Full Market Cap of at least 150 mln USD.
Three month average-daily-trading volume of at least 1 mln USD at a review and also at the previous two reviews.
At least 250,000 shares traded per month over the last six months at a review and also at the previous two reviews.
Pure-Play
Companies have to generate at least 50% revenues from gold or silver
mining.
Diversification
Company weightings are capped at 8%.