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Gold/Mining/Energy : Micro-Fine Gold Plays - Franklin Lake, etc.

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To: Victorio who wrote (525)3/15/1997 8:30:00 PM
From: Alan Vennix   of 615
 
To all interested parties - DDI update:

DESERT DIRT INDEX VALUES AS OF MAR 14:

DATE__________"DDI-CAP"________"DDI-SHR"_________"DDI-DOL"

DEC 31___________1000______________1000________________1000
JAN 3_____________982_______________980_________________920
JAN 10____________954_______________940________________1001
JAN 17____________817_______________818________________1022
JAN 24___________1003_______________988________________1266
JAN 31___________1087______________1053________________1411
FEB 7____________1177______________1118________________1419
FEB 14___________1226______________1129________________1722
FEB 21___________1177______________1093________________1768
FEB 27___________1387______________1278________________2042
MAR 7____________1979______________1797________________4188
MAR 14___________1712______________1583________________3466

NOTE: All DD stocks with the exception of GPGI (2.75 vs 2.50) were down this week.
Disparity between "DOLLAR" index and other two is due to MXAM which is up by
more than a factor of 10 since the first of the year.

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:

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.
Market cap index is most influenced by NAXOF, followed closely by IPMCF Dollar
index is most influenced by MXAM since it was bought @ 0.16 $/share and has
had the most share appreciation since the first of the year
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