Utilities Basic Materials Sector

Gold Reserve

Market Cap: US$378.7m

Engages in acquiring, exploring, and developing mining projects.

Metalla Royalty & Streaming

Market Cap: CA$516.3m

A precious metals royalty and streaming company, engages in the acquisition and management of gold, silver, copper royalties, streams, and related production-based interests in Canada.

Ferrexpo

Market Cap: UK£280.9m

Ferrexpo plc, together with its subsidiaries, mines for, develops, processes, produces, markets, exports, and sells iron ore pellets to the metallurgical industry.

Black Cat Syndicate

Market Cap: AU$576.7m

Engages in the exploration and evaluation of gold properties in Western Australia.

Olympic Steel

Market Cap: US$371.2m

Processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico.

Galiano Gold

Market Cap: CA$507.4m

A mining, development, and exploration company.

Patriot Battery Metals

Market Cap: CA$504.7m

Engages in the identification, acquisition of exploration, development, and evaluation of mineral properties in the United States and Canada.

Thor Explorations

Market Cap: CA$499.0m

Operates as a gold producer and explorer.

New Found Gold

Market Cap: CA$493.8m

A mineral exploration company, engages in the identification, evaluation, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, Canada.

Osisko Development

Market Cap: CA$492.0m

Acquires, explores, and develops precious metals resource properties in Canada, Mexico, and the United States.

Dolly Varden Silver

Market Cap: CA$483.1m

Engages in the acquisition and exploration of mineral properties in Canada.

Santacruz Silver Mining

Market Cap: CA$480.4m

Engages in the acquisition, exploration, development, production, and operation of mineral properties in Latin America.

Arafura Rare Earths

Market Cap: AU$529.8m

Engages in the exploration and development of mineral properties in Australia.

Probe Gold

Market Cap: CA$467.1m

A precious metal exploration company, engages in the acquisition, exploration, and development of gold properties in Canada.

Lifezone Metals

Market Cap: US$330.4m

Engages in the metals production and recycling business.

Central Asia Metals

Market Cap: UK£245.5m

Operates as a base metals producer.

Mesabi Trust

Market Cap: US$327.3m

A royalty trust, engages in iron ore mining business in the United States.

Turaco Gold

Market Cap: AU$488.6m

Engages in the mineral exploration of gold deposits in Cote d’Ivoire.

Pensana

Market Cap: UK£236.8m

Engages in the exploration and development of mineral properties in the United Kingdom and Angola.

Mandalay Resources

Market Cap: CA$432.2m

Engages in the acquisition, exploration, extraction, processing, and reclamation of mineral properties in Australia, Sweden, Chile, and Canada.

Sovereign Metals

Market Cap: AU$482.0m

Engages in the exploration and development of mineral resource projects in Malawi.

EMX Royalty

Market Cap: CA$428.7m

Explores for and generates royalties from metals and minerals properties.

Arizona Sonoran Copper

Market Cap: CA$424.4m

Engages in the identification, acquisition, exploration, and development of base metal properties.

Little Sioux Corn Processors

Market Cap: US$309.0m

Through its subsidiary, LSCP, LLLP, manufactures, distributes, and sells ethanol, distillers grains, and corn oil in the United States.

Mako Mining

Market Cap: CA$422.3m

Engages in gold mining and exploration activities in Nicaragua.

29Metals

Market Cap: AU$473.1m

Operates as a copper focused base and precious metals mining company in Australia and Chile.

Trilogy Metals

Market Cap: CA$422.1m

Engages in the exploration and development of mineral properties in the United States.

Omai Gold Mines

Market Cap: CA$417.9m

Engages in the acquisition, exploration, evaluation, and development of mineral properties.

Canyon Resources

Market Cap: AU$464.0m

Engages in the expedition and development of mineral properties in West Africa.

Tredegar

Market Cap: US$302.2m

Through its subsidiaries, manufactures and sells aluminum extrusions, and polyethylene and polypropylene plastic films in the United States and internationally.

Luca Mining

Market Cap: CA$405.0m

Engages in the acquisition, exploration, and development of mineral resource properties in North America.

Ranpak Holdings

Market Cap: US$293.1m

Provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia.

Wagners Holding

Market Cap: AU$448.4m

Engages in the production and sale of construction materials in Australia, the United States, New Zealand, the United Kingdom, and PNG & Malaysia.

New Pacific Metals

Market Cap: CA$398.8m

Engages in the exploration and development of mineral properties in Bolivia.

NanoXplore

Market Cap: CA$397.5m

A graphene company, manufactures and supplies graphene powder for use in industrial markets in Australia.

Santana Minerals

Market Cap: AU$444.5m

Engages in the exploration and evaluation of gold and silver properties in New Zealand, Cambodia, and Mexico.