Shares of Australia United Mining Ltd (ASX:AYM) closed at 0.001 yesterday. Australia United Mining Ltd currently has a total float of 1.27 billion shares and on average sees 100,333 shares exchange hands each day. The stock now has a 52-week low of 0 and high of 0.01.
CG Watch has recently named Australia as one of the Asian nations with the best corporate governance, which is essential in carrying out national economic growth prospects. The Australian Securities Exchange (ASX) is the perfect reflection of Australia’s thriving national economy.
It includes companies with perfect liquidity like Australia United Mining Ltd. The ASX is one of Asia’s leading stock exchanges. As of 2014, it has a market capitalization of A$1.60 trillion with over 2,000 companies listed on it. Its benchmark index is the S&P/ASX 200, which weighs its top 200 stocks on a free-float market capitalization basis.
The S&P/ASX 200 was launched in April 2000, starting at 3,133.30 points. Regardless, it continues from the history of the previous Australian benchmark index, All Ordinaries, which was founded in January 1980. Consequently, the S&P/ASX 200 holds an all-time low of 1,358.50 points, which was recorded in November 1992; and an all-time high of 6,828.70 points, which was posted in November 2007.
The S&P/ASX 200 first touched the 6,000 mark in February 2007 as investors began resorting to safe-haven markets such as the ASX with the looming threat of the 2008 Global Financial Crisis. An ability to transform assets into cash as in case of Australia United Mining Ltd was highly appreciated by nervous traders. Australia has always been an ideal market for investors because of its low interest rates and compelling corporate governance. Having low interest rates means that investors can better access capital through loans.
The components of the S&P/ASX 200 are reviewed by the Index Committee four times a year, particularly every 16th of March, June, September, and December. The Index Committee is a panel with five members that reviews the companies listed on the ASX, the 200 most active of which are then included in the S&P/ASX 200. Sometimes, depending on several factors such as market capitalization, liquidity, among others, less than 200 companies make it to the S&P/ASX 200. And this is the double reason to be proud for such companies as Australia United Mining Ltd.
In the latest review of the S&P/ASX 200, the Index Committee had dropped six companies and had added six new companies on the coveted index.
As a free-float, market-capitalization-weighted index, the S&P/ASX 200 is quarterly adjusted with respect to the stock prices of frequently traded stocks. This means that stocks held by the government, venture capitalists, and the likes are not reviewed by the Index Committee.
The S&P/ASX 200 has various sectors with the financial sector being the largest as it makes up roughly 40% of the index. It makes up almost 80% of the overall market capitalization in Australia. Representing the top 200 stocks on the ASX, the S&P/ASX 200 is a reliable indicator of the Australian economy.
Needless to point out, investing in the ASX is worth considering. With a cheap borrowing environment complemented by a hot equity market, investors can realize their long-term goals by investing in Australia. At a time when the Asian economy is immensely growing, it is just right to bet on Australia’s growth.
More notable recent Australia United Mining Ltd (ASX:AYM) news were published by: Fool.com.Au which released: “Will the Newcrest Mining Limited share price sink lower?” on August 09, 2017, also Fool.com.Au with their article: “Where next for the Newcrest Mining Limited share price?” published on July 06, 2017, Bloomberg.com published: “Australia’s Mining Bust Town Reawakens” on May 23, 2017. More interesting news about Australia United Mining Ltd (ASX:AYM) were released by: Reuters.com and their article: “Australia to pay China’s Shenhua $200 million to buy back mining license” published on July 12, 2017 as well as Fool.com.Au‘s news article titled: “Why Medusa Mining Limited shares have been CRUSHED today” with publication date: January 12, 2017.
Australia United Mining Limited is an Australia gold production and exploration company. The company has market cap of $1.27 million. The principal activities of the Company consist of exploration and development activity on its tenements in New South Wales and Queensland. It currently has negative earnings. The Firm operates in two divisions: Forsayth Project and NSW Exploration Licences.