Elixir Energy added to MSCI Australia Micro Cap Index
This morning, Elixir Energy (ASX:EXR) announced that it has been added to the MSCI Australia Micro Cap Index, which is designed to measure the performance of the microcap segment of companies traded on the Australian Securities Market.
As we explained with FYI’s admission into the MSCI, the development highlights a significant discount to fair value, and will likely drive institutional investors towards the company.
Elixir’s Managing Director, Mr Neil Young, said: “It is always pleasing for a growing company to be added to a new market index, with the resultant promise of greater international exposure, liquidity and generally broader investor interest.”
MSCI is a leading provider of investment services such as research, data and technology to the global investment community enabling clients to better understand and analyse key drivers of risk and return and build more effective investment portfolios.
Indeed, there are many advantages to EXR for being admitted into a global index, including:
- Increased exposure to global institutions
- Increased access to capital sources
- Likelihood of increased liquidity
- Broader exposure to the investment markets
- Greater research coverage and transparency for institutional and retail investors.
2021 Drilling Program Developments
EXR is undergoing an exploration and appraisal program in its Nomgon Project within the South Gobi region of Mongolia.
The Company’s 2021 2D seismic program is also ongoing, and has now acquired 51 kilometres of new seismic, which is being processed rapidly in order to feed the expanded drilling program.
Importantly, the first well in the 2021 drilling program, Yangir 2, was finished in mid-April.