The HUI Index

The AMEX Gold BUGS ( B asket of U nhedged G old S tocks) Index (HUI) is a modified equal dollar weighted index of 15 large cap (80%) and medium cap (19.5%) gold mining companies that do not hedge their gold beyond 1.5 years. The 3 largest companies make up approx. 37%* of the index by weight with the remaining 12 companies, at 4-6% each, making up the balance. (*as of March 4th, '09) See: http://amex.com/othProd/prodInf/OpPiIndComp.jsp?Product_Symbol=HUI for more current information.

The XAU Index

The Philadelphia Gold and Silver Sector Index (XAU) contains of 16 large (82.5%) and medium (15%) capitalization weighted companies engaged in the mining of gold, silver and copper. Here the same 3 largest companies account for 48.6% (as of March 4 th , ‘09) of the index by weight. See: www.nasdaqtrader.com/Dynamic/PublicIndex/XAU.txt for more current information.

The SPTGD Index

The S&P/TSX Global Gold Index (SPTGD) consists of 19 modified market capitalization-weighted companies (77.5% large cap; 18.7% medium cap) involved in precious metals (primarily gold) mining. The 3 largest cap companies dominate the index with 51.5% (as of March 4 th , ‘09) by weight. A proxy for the index is either XGD or CMW and both trade in Canadian dollars on the Toronto Stock Exchange. See: http://.ca.ishares.com/product_info/fund_holdings.do?ticker=XGD for more current information.

The GDM Index

The NYSE Arca Gold Miners Index (GDM) is a modified market capitalization weighted index of 31 companies (72% large cap; 22% medium cap and 5.5% small cap) involved primarily in the mining of gold and silver. The 3 largest cap companies again dominate the index (at 30% by index weight) but to a much lesser extent than in the HUI (37%), the XAU (48.6%) or the SPTGD (51.5%). The GDM Index represents the largest cross-section of precious metals mining companies exploring, developing and mining around the world. A proxy for the index is GDX. See: http://www.amex.com/othProd/prodInf/opPiIndComp.jsp?prod_Symbol=GDM for more current information.

The CDNX Index

The S&P/TSX Venture Composition Index (CDNX) consists of 558 micro cap companies of which 44% are involved in the early stages of the exploring, developing and/or mining and 18% in oil and gas exploration. This is the only index that gives insight into the price trends of micro cap companies almost exclusively (99.4%). See: ftp.cdnx.com/SPCDNXIndex/Components.txt for more current information.