Constituents of Commodity Companies Index (CCI) Finally Revealed
Commodities / Metals & Mining Jan 28, 2010 - 12:30 AM GMTBy: Lorimer_Wilson
There are over 1000 companies of various market capitalizations trading on the Canadian and/or U.S. stock exchanges that are involved in some aspect of commodities be it in mining, drilling, agriculture, exploring, developing or financing. That being said there are only about 100 companies that have warrants that trade and only 35 have warrants that are of 24 months duration or longer.
These 35 companies have been gathered together into an index called the Commodity Companies Index (CCI) and their 46 associated long-term warrants into the Commodity Company Warrants Index (CCWI). As a sub-component of the CCI, the 20 companies primarily involved in gold and silver have been gathered together into the Gold and Silver Companies Index (GSCI) and the Precious Metals Warrants Index (PMWI).
The Commodity Companies Index
The CCI, which was up 126% in U.S. dollar terms in 2009, is an equal dollar-weighted index whose 35 commodity related companies with associated long-term warrants (i.e. 24+ months duration) trade on the U. S. and/or Canadian stock exchanges.
These companies have diversified market caps as follows:
- 5 are large-cap (i.e. 14%);
- 8 are mid- to small-cap (i.e. 23%);
- 22 (i.e. 63%) are micro- or nano-cap (i.e. 63%).
Another way to look at the CCI is a breakdown as to the commodity they are related to which is as follows:
- 20 of the companies are gold and silver related (i.e. 57%);
- 10 are involved in base metal mining (i.e. 28.5%);
- 3 are in merchant banking (i.e. 8.5%);
- 2 are in oil and gas operations (i.e. 6%).
The Commodity Company Warrants Index
The CCWI, which was up 242% in U.S. dollar terms in 2009, is an equal dollar-weighted index and is comprised of the 46 long-term warrants associated with the companies in the CCI of which 8 companies have more than one warrant each.
The warrants are divided by market cap as follows:
- 6 warrants are associated with the large-cap companies (i.e. 13%);
- 14 are associated with the mid/small-cap companies (i.e. 30%);
- 26 are associated with the micro/nano-cap companies (i.e. 57%).
The Gold and Silver Companies Index
The GSCI, which was up 85% in U.S. dollar terms in 2009, is an equal dollar-weighted index comprised of the 20 gold and silver mining and royalty companies with associated long-term warrants (i.e. that have a minimum duration of 24 months) that trade on the U. S. and/or Canadian stock exchanges.
By market cap the companies consist of:
- 4 large-cap (i.e. 20%);
- 5 mid- to small-cap (i.e. 25%);
- 11 (i.e. 55%) being micro- or nano-cap in size.
Of the 20 companies in the index 16 are miners (i.e. 80%) and 4 (i.e. 20%) are royalty stream companies (1 exclusively gold; 2 exclusively silver and 1 gold/silver and other commodities).
The Precious Metals Warrants Index
The PMWI, which was up 140% in U.S. dollar terms in 2009, is an equal dollar-weighted index and is comprised of the 24 long-term warrants associated with the companies in the GSCI of which 3 companies have more than one warrant each.
By market cap they are as follows:
- 5 warrants are associated with the 4 large-cap companies (i.e. 21%);
- 8 are associated with the mid/small-cap companies (i.e. 33%);
- 11 are associated with the micro/nano-cap companies (i.e. 46%).
Gold and Silver Constituent Companies
The constituents of both the GSCI and PMWI are as follows with a) the Company Name; b) the Canadian Stock Symbol/U.S. Stock Symbol; c) Canadian warrant symbol/U.S warrant symbol - expiry date - CUSIP Number:
1. Agnico-Eagle; T.AEM/AEM; .wt.U/ - - December 2013 - 008474140
2. Andina Minerals; V.ADM/ - ; .wt/ - - June 2012 - 034219147
3. Chesapeake Gold; V.CKG/ - ; .wt/CEPKF - February 2012 - 165184110
4. Claude Resources; T.CRJ/ - ; .wt/ - - May 2013 - 182873141
5. Dundee Precious Metals; T.DPM/ - ; .wt/DNPMF - June 2012 - 2652689126; .wt.A/DNPWF - November 2015 - 265269134
6. ECU Silver; T.ECU/ - ; .wt/- - February 2014 - 26830P121
7. Franco-Nevada; T.FNV/ - ; .wt/FNCNF - March 2012 - 351858113; .wt.A/ - - June 2017 - 351858139; Gold, Silver, Oil and Gas Royalty
8. Gold Wheaton; V.GLW/ - ; .wt/ - - July 2013 - 38075N113; Gold Royalty
9. Kinross Gold; T.K/KGC; .wt.C/KNRSF - September 2013 - 496902172
10. Linear Gold; T.LLR/ - ; .wt/ - - November 2014 - 53566Q115
11. Metanor; V.MTO/ - ; .wt/MNNRF - May 2012 - 59138Q137
12. Minera Andes; T.MAI/ - ; .wt/ - - August 2014 - 601910184
13. Mines Management; T.MGT/MGN; .wt.U/MMGMW - April 2012 - 603432113
14. New Gold; T.NGD/NGD; .wt.B/NEGWF - April 2012 - 644535130; .wt.C/NWGWF - November 2012 - 644535148; .wt.A/NGDAF - June 2017 - 644535122
15. Rusoro; T.RML/ - ; .wt/RSMGF - November 2012 - 782227136
16. Sandstorm Resources; V.SSL/ - ; .wt/ - - April 2014 - 800132128; Silver Royalty
17. Silver Wheaton; T.SLW/SLW; .wt.U/SLVWF - September 2013 - 828336149; Silver Royalty
18. Terrane Metals; V.TRX/ - ; .wt/ - - June 2012 - 88103A116
19. U.S. Silver; V.USA/ - ; .wt/ - - July 2014 - 90343P119
20. Yukon Nevada; T. YNG/ - ; .wt/ - - June 2012 - 98849Q119
In addition to the above gold and silver sub-components of the CCI and CCWI are the following companies with long-term warrants that are involved in oil and gas operations, merchant bank financing and base metal mining and/or exploration which make up the full complement of companies in the CCI and CCWI.
The constituents of both the CCI and CCWI are as follows with a) the Company Name; b) the Canadian Stock Symbol/U.S. Stock Symbol; c) Canadian warrant symbol/U.S warrant symbol - expiry date - CUSIP Number; d) and base metal mined where applicable:
Oil and Gas Constituent Companies
21. Bankers Petroleum; T.BNK/ - ; .wt.A/BAPKF - March 2012 - 066286147
22. Pacific Rubiales; T.PRE/ - ; .wt/ - - July 2012 - N/A
Merchant Banking Constituent Companies
23. Aberdeen International; T.AAB/ - ; .wt/ADNLF - June 2012 - 003069119
24. Endeavour Financial; T.EDV/ - ; .wt.A/ENDEF - February 2014 - G3040R133
25. PineTree Capital; T.PNP/ - ; .wt/PNLDF - - April 2012 - 723330130; .wt.A/ - - October 2012 - 723330130; .wt.B/ - - July 2013 - 723330148
Base Metals Constituent Companies
26. Baffinland Iron Mines; T.BIM/ - ; .wt/BFIRF - January 2012 - 056620115; .wt.A/ - - December 2012 - 056620131; Iron Ore
27. Breakwater Resources; T.BWR/ - ; .wt.A/ - - April 2014 - 106902166; Zinc
28. Coalcorp Mining; T.CCJ/ - ; .wt.B/CJCPF - June 2013 - 190135160; Coal
29. FNX Mining; T.FNX/ - ; .wt/ - - September 2012 - 30253R119; Nickel
30. Geovic Mining; T.GMC/ - ; .wt.A/GVICW - March 2012 - 373686120; .wt.B/ - - April 2012 - U37397111; Cobalt
31. Mega Uranium; T. MGA/ - ; .wt/MEGUF - February 2012 - 58516W112; .wt.A/MEGRF - June 2012 - 58516W120; .wt.B/ - - October 2014 - 58516W146; Uranium
32. Mercator Minerals; T.ML/ - ; .wt/MRCMF - February 2012 - 587582115; .wt.A/ - - January 2013 - 587582123; Molybdenum
33. Uranerz; T.URZ/ - ; .wt/ - - April 2012 - 91688T112; Uranium
34. Western Canadian Coal; T.WTN/ - ; .wt/ - - June 2012 - 957860125; Coal
35. Zasu Metals; T.ZAZ/ - ; .wt/ - - December 2012 - 989197116; Zinc, Lead
The sum total of the above 35 companies makes up the Commodity Companies Index (CCI) and their 46 associated long-term warrants make up the Commodity Company Warrants Index (CCWI).
It should be noted that constituent companies are deleted from the various indices if, and when, their warrants no longer have a duration period of at least 24 months. In addition, companies are added if they have a warrant with at least 24 months duration. All performance analyses are done on a strictly comparative basis.
Please Note: The above list of constituent companies will be kept updated in this article which can be found on the above mentioned site in the 'Warrants/LEAPS/Options' section under the 'Investing' category.
Lorimer Wilson is Editor of www.FinancialArticleSummariesToday.com (F.A.S.T.) and www.MunKnee.com (Money, Monnee, Munknee!) and an economic analyst and financial writer. He is also a frequent contributor to this site and can be reached at editor@munknee.com."
© 2010 Copyright Lorimer Wilson- All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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