DESERT DIRT INDEX VALUES AS OF FEB 5, 1999:
NOTE 1: For the year 1998, index values were down between 85 and 95%,
meaning that the initial $1000 investment would have decreased in value to $50 to
$150, depending on the specific indice. This assumes zero value for IPMCF since it
was not freely trading at year end.
NOTE 2: For 1999, MGAU has been substituted for IPMCF and the indices will be
calculated assuming the investment of $1000 using the Dec 31, 1998 closing values
for the five stocks in the index - CHIP, GPGI, MGAU, MXAM, and NAXOF.
NOTE 3: For the year of 1999 through Feb 5, MGAU's stock price is up by 204%,
NAXOF is up 59%, CHIP is + 40%, MXAM is + 13% and GPGI is -5%.
A basket of the five stocks is up 60-90% on the year, depending on the particular
indice. See the notes below for a definition of the three indices. (Keep in mind, of
course, the disastrous year 1998 and that this assumes a fresh investment on Jan 1,
1999 without accounting for the 1998 losses.)
NOTE 4: DD NEWS - NAXOS reported the results of 4 assays of samples from
their California Franklin Lake property that averaged 0.24 oz AU/T and that a pilot
plant was being reconfigured to test the recovery process with test runs planned for
February and an expectation that the plant would be operational in March. MG
GOLD issued a series of PR's announcing testing of an assay/recovery procedure
from Johnson/Lett at their 3 Arizona properties; results of assays of drill hole
samples from their Sticklizard property (nearby to the IPM Black Rock property)
averaged 0.47 oz AU/T, two recovery tests of material from the Sinagua Cinder
Cone yielded positive results with a 500 lb sample showing a recovery of 0.56 oz
AU/T, and tests on drill samples from Martin's Peak (the zone underlying the
marble quarry) averaging in excess of 0.4 oz AU/T. LS CAPITAL reported
encouraging results from their Montana property (not a Desert Dirt property) and
said they were evaluating potential recovery methods.
For additional details on the DDI, see:
Message 7708754
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