Troy Resources will be included in Standard & Poor’s Australian Securities Exchange (S&P/ASX) 300 Index from the close of trade on 18 September 2009.
Standard & Poor’s Index Services announced the company’s inclusion in the index earlier in the month.
“Both the S&P/ASX 200 and the S&P/ASX 300, together with component indices, are reviewed as part of the September quarterly rebalance,” the firm said in a statement.
“The quarterly rebalance considers the aggregate market capitalisation and liquidity of stocks for the preceding six months of 2009 as a basis for eligibility.”
According to Troy chief executive Paul Benson, the achievement reflects the 340% increase in the company’s share price since the lows of November 2008.
“This is a significant milestone in the company’s growth and a clear indicator to our shareholders that our strategies are on target,” he said.
“Today, Troy has the largest reserve and resource base and the longest forecast production profile in its 25 year history.
“Our entry into the ranks of Australia’s top 300 companies will also serve to raise the profile of Troy within a wider audience of potential investors.”