Revett Minerals Set to Join Russell 3000 Index
SPOKANE VALLEY, WASHINGTON -- (Marketwire) -- 06/13/11 -- Revett Minerals (TSX: RVM) (NYSE Amex: RVM) is set to join the U.S. broad-market Russell 3000 Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 24, according to a preliminary list of additions posted June 10th.
Annual reconstitution of Russell's U.S. indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
John Shanahan, President and CEO said, 'Inclusion in the Russell indexes is another significant milestone for Revett Minerals and is valued recognition of our company's position as a US based producer of silver and copper. This will further enhance our public profile as we continue to build market awareness in the U.S. and abroad.'
The Russell 3000 also serves as the U.S. component to the Russell Global Index.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in institutional assets currently are benchmarked to them. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
About Russell
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has about $161 billion in assets under management as of March 31, 2011, and serves individual, institutional and advisor clients in more than 35 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
About Revett
Revett, through its subsidiaries, owns and operates the currently producing Troy Mine in Lincoln County, Montana and development-stage Rock Creek Project located in Sanders County, Montana, USA. The proven reserves at the Troy Mine and significant resources at the Rock Creek project form the basis of our plan to become a solid mid-tier base and precious metals producer. Revett plans on expanding production through exploration in and around its current properties, as well as through targeted business combinations of advanced stage projects.
John Shanahan, President & CEO
Except for the statements of historical fact contained herein, the information presented in this press release may contain 'forward-looking statements' within the meaning of applicable Canadian securities legislation and The Private Securities Litigation Reform Act of 1995. Generally, these forward looking statements can be identified by the use of forward-looking terminology such as 'expects', or 'does not expect', 'is expected', 'is not expected', 'budget', 'plans', 'schedule', 'estimates', 'forecasts', 'intends', 'anticipates', 'or does not anticipate' or 'believes' or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will', 'occur' or 'be achieved'. Actual results and developments could be affected by the Company's ability to obtain all necessary permits, approvals and financing to develop the Rock Creek project, which is not assured. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Revett does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Contacts:
Revett Minerals
Monique Hayes
Director of Corporate & Investor Communications
(509) 921-2294
www.revettminerals.com