DESERT DIRT INDEX VALUES AS OF DECEMBER 12:
NOTE: During the past week, NAXOF released results from Ledoux Labs where the Johnson Process indicated a gold content of 3 oz/t from 3 COC samples obtained from the first of 5 wells drilled by Behre-Dolbear on the Franklin Lake property; Ledoux is repeating the tests for gold and has also indicated the presence of platinum, albeit at inconsistent levels.
CHIP announced that they had filed the necessary paperwork for the spin-off of one of its' mining subsidiaries, Griffin Gold; also, in a letter from Keith McKenzie (IR) to shareholders, CHIP announced a Private Plavement of 2.2 MM shares @ $0.75 (with an attached warrant for $1 with a 2 yr limit) with the funds to be used primarily for the construction of a processing plant on its Cochise Mining subsidiary property in AZ.
Finally, in a President's Message to Shareholders, Dale Runyon of MXAM reviewed the companys progress over the past year, and reiterated their plans for a 1000 t/d mine at their Peoria Seven property, scheduled to be operational in April of 1998 producing gold, silver, PGMs and other metals and elements. Mr Runyon also stated that a personal obligation was causing him to market 200,000 of his shares (estimated to be 1% or less of his holdings), which likely contributed to the decline in the value of MXAM stock during the past week.
For the week ending Dec 12, all stocks sufferred declines, with NAXOF -9%, CHIP -11%, GPGI - 21%, IPMCF - 28% and MXAM -36%.
For the 4th Quarter from September 30, NAXOF is the only positive at +4%, CHIP is -30%, GPGI is -33%, MXAM is -52%, and IPMCF is -82%.
Year to date: MXAM is +150%, NAXOF is +107%, GPGI is -18%, CHIP is -54% and IPMCF is -76%. Note, a basket of these five stocks purchased Jan 1 with an investment into each on the basis of their relative market capitalizations, would be up 15% since that time (down from the +35% of last week due to declines in all the stocks, but particularly the 20+% declines in the AZ stocks).
DATE__________"DDI-CAP"________"DDI-SHR"_________"DDI-DOL"
DEC 12___________1152_____________965________________1220
DEC 5____________1353____________1128________________1616
OCT 31___________1433____________1276________________1685
OCT 24___________1832____________1597________________2039
OCT 10___________1552____________1360________________1896
SEP 30___________1684_____________1501________________2096
SEP 19___________1696_____________1526________________1950
SEP 12___________1560_____________1414________________1829
SEP 5____________1581_____________1444________________2010
AUG 29__________1635_____________1501________________2070
AUG 22__________1383_____________1248________________1813
AUG 15__________1230_____________1110________________1835
AUG 8____________976______________905________________1595
AUG 1____________964______________884________________1637
JUL 25____________947______________866________________1863
JUL 18____________862______________839________________1521
JUL 11___________1041_____________1005________________1698
JUN 30___________1085_____________1026________________1854
JUN 13___________1112_____________1064________________1898
JUN 6____________1004______________963________________1697
MAY 30__________1128_____________1070________________1910
MAY 23__________1400_____________1338________________2288
MAY 16__________1472_____________1420________________2431
MAY 9___________1472_____________1425________________2225
MAY 2___________1451_____________1394________________2158
APR 25__________1604______________1566________________2191
APR 18___________1617______________1577_______________2366
APR 11__________1555______________1523________________2286
MAR 31__________1493______________1467________________2383
MAR 21__________1601______________1563________________2489
MAR 14__________1712______________1583________________3466
MAR 7___________1979______________1797________________4188
FEB 28___________1387______________1278________________2042
FEB 21___________1177______________1093________________1768
FEB 14___________1226______________1129________________1721
FEB 7___________1177_______________1118________________1419
JAN 31___________1087______________1053________________1411
JAN 24___________1003_______________988________________1266
JAN 17____________817_______________818________________1022
JAN 10____________954_______________940________________1001
JAN 3_____________982_______________980_________________920
DEC 31___________1000______________1000________________1000
BACKGROUND
Market Indices for the basket of 5 "Desert Dirts" have been calculated for three different investments.
(1) MARKET CAPITALIZATION (DDI-CAP) - Assumes $1000 invested equally in the 5 stocks on the basis of the market capitalization of the stocks as of 12/31/96.
(2) EQUAL SHARE AMOUNTS (DDI-SHR) - Asssumes $1000 invested by buying equal number of shares in the 5 stocks based on their 12/31/96 closing prices.
(3) EQUAL DOLLAR AMOUNTS (DDI-DOL) - Assumes $1000 invested by buying equal dollar amounts of the 5 stocks at their 12/31/96 closing prices.
Initial values for the three investments were calculated as follows, using estimated shares outstanding as of Dec 31, 1996:
STOCK__________CHIP______GPGI______IPMCF_____MXAM______NAXOF
MM SHARES ________8________20__________18_________45___________25
12/31 PRICE_______1.44_______1.63_________4.38_______0.16_________3.50
"CAP" SHARES___36.79______91.98________82.78______206.94_______114.97
"SHR" SHARES___90.11______90.11________90.11_______90.11________90.11
"DOL" SHARES__139.13_____123.08________45.71_____1250.00________57.14
With these share amounts, index values were calculated as above. |
