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Gold Road Resources set to be promoted to S&P/ASX 200 Index

Maiden gold production from the company's flagship Gruyere mine is expected imminently.

s&p building
The ASX's most well known indices are determined by Standard & Poor's (S&P)

Gold Road Resources Ltd (ASX:GOR) will be added to the S&P/ASX All Australian 200 Index on June 24, 2019 if the proposed takeover of Navitas Limited (ASX:NVT) goes through.

Should it enter the ASX 200, it will be one of four companies to do so alongside Collins Foods Ltd (ASX:CKF), Austal Ltd (ASX:ASB) and Pro Medicus Limited (ASX:PME).

Often when companies enter indices such as the ASX 200 they become available to be purchased by larger institutions who have rules on which companies they can and can’t buy.

READ: Gold Road Resources major shareholder BlackRock increases stake

Gold Road is Australia’s next fully-funded gold producer through its Gruyere tier one gold operation within the Yarmana Project in Western Australia.

Mining of Gruyere’s 3.92 million ounce ore reserve commenced in late 2018 and first gold is expected to be produced imminently.

Quick facts: Gold Road Resources Ltd

Price: 1.185 AUD

ASX:GOR
Market: ASX
Market Cap: $1.04 billion
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