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Gold/Mining/Energy : The New Western Desert-Dirt Gold Rush -- Ignore unavailable to you. Want to Upgrade?

To: Alan Vennix who wrote (335)	3/4/1999 8:46:00 PM
From: Alan Vennix	Read Replies (1) \| Respond to of 343

DESERT DIRT INDEX VALUES AS OF FEB 26, 1999: NOTE 1: For the year of 1999 through Feb 26, MXAM's stock price is up by 313%, MGAU is up 285%, NAXOF is + 31%, CHIP is + 16% and GPGI is -14%. A basket of the five stocks is up more than 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 - MGAU (Feb 16) expanded on their earlier PR concerning the Sinagua ore which had been concentrated by MGAU using the Johnson-Lett process, with scanning electron microscopy of the concentrate yielding nearly twice the content of gold than had been indicated by fire assay of the concentrate, that they were currently processing a one ton sample of Sinagua ore, and that they were planning to have a pilot plant operational within 90 days; also, that they planned to acquire the assets and technology of Johnson, Lett & Company. MXAM (Feb 17) announced the completion of a ten-hole drill program on their Peoria South property, with COC samples being sent to Registered Assayers for determination of gold and silver; results were expected within 60 days. NAXOF (Feb 11) announced that the reconfiguration of the Franklin Lake demonstration plant remained on schedule and would be running “shortly”, and that Martin Blake (formerly with LS Capital - CHIP) had joined the company as Manager of Research and Exploration. DATE__________”DDI-CAP”________”DDI-SHR”_________”DDI-DOL” 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.