S&P/ASX 200 to welcome Westgold and Yancoal

On September 23, the S&P/ASX 200 will welcome two more companies with Westgold Resources (ASX: WGX) and Yancoal (ASX: YAL) set to join.

Yancoal will also be added S&P/ASX 300 and these additions follow the company being added to the Hang Seng Composite and inclusion in the list of stocks eligible for trading under the Stock Connect program with the mainland Chinese stock market in March 2023.

Yancoal chief executive says this is exciting news for the company, especially in its 20^th anniversary year.

“We were encouraged to see the notable increase in the company’s market valuation, average daily turnover and shareholder base during recent years as we recovered from extended rain disruptions and our free float increased,” he said.

“In the 12 months to June 30, 2024, Yancoal operations produced over 62mt of run-of-mine coal and 36mt of attributable saleable coal.

“Our anticipated production rate over the remainder of 2024 puts us on track to be the second largest coal producer in Australia.

“We see the company’s inclusion in the S&P ASX indices providing a further opportunity to expand our investor base and bolster the trading liquidity of our shares.”

Westgold managing director and chief executive Wayne Bramwell commented on the addition.

“Westgold’s admission to the prestigious S&P/ASX 200 index is a direct result of the efforts of our people delivering safe and profitable ounces for our shareholders,” he said.

“This strategy has seen Westgold’s market capitalisation grow to around $2.7b at market close on September 6, 2024.

“Our focus now pivots to organic growth and we start FY25 as an unhedged, +400kozpa, dual listed gold producer with strategic operating footprint in two of WA’s most productive goldfields.”