DESERT DIRT INDEX VALUES AS OF APR 30, 1999:
NOTE 1: For the year of 1999 through April 30, MGAU's stock price is up by
397%, MXAM is up 113%, NAXOF is + 31%, GPGI is -2% and CHIP is -22%.
For the month of April, MGAU was up 27%, NAXOF was +12%, CHIP -9%, GPGI
-23% and MXAM -27%.
A basket of the five stocks is up approximately 100-150% 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 - GPGI announced assay results on April 5 for 5 samples from
the Hassayampa, Oro Grande and Weaver Creek areas. Grades averaged nearly 8
oz/T (total) for gold and PGM's.
MGAU announced on April 5 that they had recovered 1.73 oz gold from the 1 ton
sample of Sinagua ore using the J/L process, and on April 21 announced that they
had received a check from the refiner for the gold in the 1 ton sample.
MXAM announced results on April 15 for COC assays on 2 of the 10 holes drilled
earlier this year at their Peoria properties. Equivalent gold grades (gold and
PGM's) averaged 0.15 oz/T, which management believed to be economic to
extract. Retesting is proceeding at another lab and the results from the other 8 wells
are yet to be received.
NAXOF announced on April 6 that they had received an injunction prohibiting the
dissident shareholder group from calling a special meeting and, further on April 28,
that they had reached agreement with the dissident group to share Board leadership.
(Details of the AGM on April 30 are in a May 3 PR.)
DATE__________”DDI-CAP”________”DDI-SHR”_________”DDI-DOL”
APR 30___________2099_____________2439_________________2035
APR 23___________2131_____________2493_________________2044
APR 16___________1893_____________2220_________________1956
APR 9___________1705______________1900________________1773
MAR 31__________1958______________2157________________2032
MAR 26__________1883______________2047________________1910
MAR 19__________2027______________2199________________2157
MAR 12__________2180______________2391________________2259
MAR 5___________2181______________2393________________2271
FEB 26____________2074______________2199________________2263
FEB 19____________1620______________1758________________1728
FEB 12____________2064______________2440________________1953
FEB 5____________1727______________1901________________1625
JAN 30___________1712______________1758________________1440
JAN 23___________1369______________1489________________1375
JAN 16___________1147______________1169________________1107
JAN 8 ___________1046______________1052________________1035
DEC 31___________1000______________1000________________1000
NOTE: For the year 1998, the indices were down by 85-95%. These indices were
based on a basket of stocks purchased Jan 1, 1998 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 12/31/98.
(2) EQUAL SHARE AMOUNTS (DDI-SHR) - Asssumes $1000 invested by buying
equal number of shares in the 5 stocks based on their 12/31/98 closing prices.
(3) EQUAL DOLLAR AMOUNTS (DDI-DOL) - Assumes $1000 invested by
buying equal dollar amounts of the 5 stocks at their 12/31/98 closing prices.
Initial values for the three investments were calculated as follows, using estimated
shares outstanding as of Dec 31, 1998:
STOCK_________CHIP______GPGI_______MGAU_____MXAM______NAXOF
MM SHARES ______20 ________30__________20_________55___________35
12/31 PRICE_______0.041______0.22_________0.39_______0.075________0.51
“CAP” SHARES____538_______807_________538________1479_________941
“SHR” SHARES____809_______809_________809________809__________809
“DOL” SHARES____4878______909_________513________2667_________392
With these share amounts, index values were calculated as above.
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