DESERT DIRT INDEX VALUES AS OF MAR 31, 1999:
NOTE 1: For the year of 1999 through March 31, MGAU's stock price is up by
293%, MXAM is up 193%, GPGI is + 27%, NAXOF is + 18% and CHIP is -15%.
A basket of the five stocks is up approximately 100% on the year, depending on the
particular indice. (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 2: DD NEWS -CHIP did not have a PR during the month but in an EDGAR
filing the company revealed that it was shifting its focus away from DD mining to
European Internet activities. Since CHIP represents less than 2% of the DDI, it is
being retained at the present time rather than recalculating the DDI without it.
MGAU had 3 Press Releases. The March 3 PR indicated a 1 ton sample from the
Sinagua Cinder Cone was currently being treated using J-L technology and that a
pilot plant was to be constructed at the Sinagua site; marble quarry operations were
continuing to increase and were expected to be cash positive in March; also that the
company expected to complete acquisition of J-L by end March. On March 15
MGAU announced that pilot plant construction commenced March 8, and on March
31 the company confirmed that it had completed the acquisition of the J-L
technology related to assay and recovery of precious metals from refractory ore.
MXAM on March 2 referenced several USGS reports with information that could
be relative to the occurrence of precious metals at its' Peoria site. Additional
information has been posted on the company's web site.
NAXOF had 3 PR's also in March. On March 18 the company announced that the
1-ton per hour pilot plant at Franklin Lake was complete and operations were
underway and that they expected to be running at optimum efficiency by early May.
On May 23 the company revealed that it had been cleared of all ASC charges, with
the only individual found guilty of wrongdoing being former President Jimmy John;
on that same day the company also revealed that a dissident shareholder group was
attempting to hold a special shareholder meeting in early April but that the
company was contesting the legality of the meeting.
For more information on the DDI, go to:
Message 8695464
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