DESERT DIRT INDEX VALUES AS OF MAR 31, 1998:
NOTE: For the month of March, MXAM led the way with an increase of 65% in the value of their stock, followed by GPGI which was unchanged, IPMCF down 21%, CHIP down 24% and NAXOF down 26%.
There was a blitz of Press Releases during the month, led by NAXOF with 5 and IPMCF and GPGI with one each. All PR's are available on the company web sites so will be only mentioned briefly here.
NAXOF announced the resignation of their CEO, Jimmy John, and the appointment of an advisory committee to select a successor. They also had 2 releases with results of gold assays on various samples from Franklin Lake. Additionally they announced a planned 28 well drill program for FL and a 30 day extension to the Johnson-Lett agreement.
IPMCF announced that they had renogiated the purchase agreement with Phoenix/Omega for their Black Rock property and that John Yellich had been appointed CEO in place of Le Furlong who had resigned.
GPGI released assay results on a sample of material taken from their Hassayampa property, and tested by a South African laboratory under COC, which yielded gold, silver, platinum and other precious metals.
For the year of 1998 through Mar 31, MXAM's stock price is up by 65%, GPGI is down 30%, NAXOF is -42%, CHIP is -55% and IPMCF is -56%.
A basket of the five stocks is down 24-38% on the year, depending on the particular indice.
DATE__________"DDI-CAP"________"DDI-SHR"_________"DDI-DOL"
MAR 31___________640_______________616_________________764
MAR 27___________693_______________646_________________722
MAR 20___________605_______________581_________________671
MAR 13___________531_______________522_________________606
MAR 6____________714_______________689_________________713
FEB 27____________758_______________736_________________726
FEB 20____________843_______________810_________________762
FEB 13____________758_______________744_________________754
FEB 6_____________866_______________876_________________944
JAN 30____________903_______________903_________________923
JAN 23____________918_______________916_________________966
JAN 16___________1028______________1015________________1030
JAN 9 ____________912_______________924_________________966
DEC 31___________1000______________1000________________1000
NOTE: For the year 1997, the "CAP" index was up 9.5%, the "SHR" index was down 6.8%, and the "DOL" index was up 19.3%. These indices were based on a basket of stocks purchased Jan 1, 1997 on the same basis as described below.
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 in the 5 stocks on the basis of the proportionate value of the market capitalization of the stocks as of 12/31/97.
(2) EQUAL SHARE AMOUNTS (DDI-SHR) - Asssumes $1000 invested by buying equal number of shares in the 5 stocks based on their 12/31/97 closing prices.
(3) EQUAL DOLLAR AMOUNTS (DDI-DOL) - Assumes $1000 invested by buying equal dollar amounts of the 5 stocks at their 12/31/97 closing prices.
Initial values for the three investments were calculated as follows, using estimated shares outstanding as of Dec 31, 1997:
STOCK__________CHIP______GPGI______IPMCF_____MXAM______NAXOF
MM SHARES ______12.2________21__________21_________45___________34
12/31 PRICE_______0.56_______1.88_________1.28_______0.38_________6.25
"CAP" SHARES____40.3_______69.4_________69.4_______148.8_______112.4
"SHR" SHARES____96.7_______96.7_________96.7________96.7________96.7
"DOL" SHARES____357________107_________156_________533_________32
With these share amounts, index values were calculated as above. |
