To All Interested Parties:
DESERT DIRT INDEX VALUES AS OF DECEMBER 31, 1997:
NOTE: None of the Desert Dirt/Clay/Sand companies has made any announcement since the last update on Dec 12. Quarterly and Yearly returns appear below.
I will begin another set of indices for 1998 based on the Dec 31, 1997 closing stock prices and using the latest numbers for shares outstanding for each of the 5 companies to distribute the initial investment on the basis of the Dec 31 Market Capitalizations.
None of the 5 stocks had a positive performance in the 4th Quarter: GPGI was -6%, NAXOF was -11%, CHIP was -40%, MXAM was -55%, and IPMCF was -78%.
For the year: MXAM was +134%, NAXOF was +79%, GPGI was +15%, CHIP was -61% and IPMCF was -71%.
Note, a basket of these five stocks purchased at their Dec 31, 1996 closing price, with an investment into each on the basis of their relative market capitalizations, would be up 9.5% for the year. Buying an equal number of shares in each of the 5 companies would have resulted in a loss of 6.8%, while investing an equal dollar amount into each of the 5 would have returned 19.3% for the year.
Additional details are available on the New Desert Dirt Gold Rush thread:
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