06/06/2014 - 14:13

WA companies bumped from indices

06/06/2014 - 14:13

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The quarterly rebalance of the Australian stockmarket Indices has pushed Perth companies Regis Resources, Ausdrill and Silver Lake Resources out of their S&P/ASX indices.

WA companies bumped from indices
A haul truck at Regis Resources Duketon Gold Project

The quarterly rebalance of the Australian stock market Indices has pushed Perth companies Regis Resources, Ausdrill and Silver Lake Resources out of their S&P/ASX indices.

Regis was removed from the S&P/ASX 100 index, with flooding at two of its mines in February and low gold grades significantly hindering recent gold production and future forecasts.

The company suffered a significant price drop on the share market, down by about 50 per cent since February.

Waste management company Transpacific Industries Group was added to the  S&P/ASX 100 index. 

Silver Lake Resources and Ausdrill were both left out of the S&P/ASX All Australian 200 index.

Silver Lake’s Murchison gold operations were put on care and maintenance in the June 2014 quarter after the project was deemed no longer sustainable at the current gold price.

Heavy rainfall in late January also disrupted mining operations and slowed production for the quarter.

Ausdrill suffered from a higher than anticipated increase in maintenance-related costs, and an adverse foreign exchange impact on receivables.

Regis’ share price was up by 1.71 per cent to $1.48, Silver Lake's was also up 0.59 per cent to 34.2 cents, and Ausdrill’s share price fell by 1.7 per cent to 86.5 cents at 2:00pm WST. 

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