Liontown takes ASX200 spot
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Engineering contractor Monadelphous Group has been cut from the ASX200 in an S&P Dow Jones rebalance, while a new discovery propels Liontown to the top end of the market.
The S&P December 2021 quarterly rebalance saw Victoria Park-based Mondadelpous, who’s share price is down 39 per cent in the past year, removed from the ASX200 index.
Meanwhile, Liontown Resources claimed a spot in the index during the quarter after unveiling a game-changing definitive feasibility study for the Kathleen Valley project in Western Australia.
The Tim Goyder-led company has enjoyed an 138 per cent increase in its share price over the last six months.
WA uranium player Paladin Energy was also added to the ASX200.
Paldin’s share price has picked up over the last 6 months, spurred on a by a lift in the uranium price which went from around $US30 to $US50 in September.
Company shares are trading around the 77 cent mark.
Online retailer Kogan was also dropped from the index, alongside print-on-demand company Redbubble.
Mineral resource company Orocobre, which is focused on lithium and Borx operations in Argentina, was promoted to the ASX100 index, while Link Administration Holdings lost its spot.