Aussies launch gold index

The Australian Gold Council and Sydney-based Macquarie Bank have launched the AGC/Macquarie Australian Gold Index, which replaces the Australian Stock Exchange (ASX) S&P Gold Index.

The new index consists of 18 stocks, including AurionGold, Normandy NFM, Newcrest Mining, and Sons of Gawlia.

Companies listed must be based in Australia, have a market capital of more than A$50 million, produce more than 50,000 oz. annually, and have a primary listing on the ASX.

The index will be calculated each morning based on the previous day’s closing prices and the data released prior to market opening,

The other companies on the index are Abelle, Croesus Mining, Emperor Mines, Equigold, Gindalbie Gold, Gold Mines of Sardinia, Gympie Gold, Kingsgate Consolidated, Lihir Gold, Resolute Mining, Sipa Resources International, St Barbara Mines, Triako Resources, and Troy Resources.