JMI Junior Mining Indexes

How the JMI indexes are built

The JMI Junior Mining Index tracks the Canadian-listed junior mining companies on this platform: every company listed on the TSX, TSX Venture or CSE with a market value between C$5 million and C$500 million, a share price of at least five cents and a stock that actually trades. The Gold, Silver, Copper and Lithium indexes are the members of the main index whose main commodity is that metal, judged by their projects.

Each index is weighted by market value (share price times shares outstanding), so a C$300 million company moves the index more than a C$5 million one. No single company can be more than 10% of the main index or 15% of a commodity index. An index with fewer than 15 members is equal-weighted and says so on its chart.

All five indexes started at 1,000 on March 2, 2026. They are calculated in Canadian dollars from closing prices every trading day after the market closes, and they measure price only: dividends, which almost no junior pays, are not added back.

The list of members is reviewed four times a year, in March, June, September and December. Changes are announced on the Monday after the second Friday of the month and take effect after the close on the third Friday. Between reviews no company is added, and a company is removed only when it is taken over, delisted or stops trading for two weeks. A company that grows past C$625 million leaves at the next review.

A stock that is halted stays in at its last price until it trades again. If the data behind a day's calculation is incomplete, the day is marked on the chart rather than guessed.

Values from March 2026 to the launch date are reconstructed from stored prices using the same rules and today's share counts, and are shaded on the chart. The full rules, including every threshold, how the divisor is adjusted and the review calendar, are on the methodology page; each index's page shows its members, weights and composition.