Gold Road Resources’ (ASX: GOR) rapid transformation from high-profile explorer to one of Australia’s top stocks took another significant step today with promotion to the all-important S&P/ASX 200 index.
Inclusion in the index, effective from 23 September, will make Gold Road a must-have investment by index-tracking funds and continues the Perth company’s outperformance over the past 12 months. A year ago, Gold Road was trading around 62c.
Since then, the successful conclusion of construction of its world-class Gruyere gold mine – first gold was poured in June this year – and ramp-up of production at a time of record-high gold prices have seen Gold Road’s share price trade as high as $1.64. Shares are currently at $1.35.
Joining Gold Road in the S&P/ASX 200 are fellow gold producer Silver Lake Resources (ASX: SLR), Netwealth Group (ASX: NWL) and Collins Foods (ASX: CKF). Stocks falling out of the index include Emeco Holdings (ASX: EHL), Pact Group (ASX: PGH) and Sigma Healthcare (ASX: SIG).
