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Gold/Mining/Energy : Dynamix Corp (DYX was Dakota Resources, DAK) -- Ignore unavailable to you. Want to Upgrade?

To: Benjamin Ng who wrote (530)	4/5/1999 8:30:00 PM
From: Luc Beaugrand	Read Replies (1) \| Respond to of 587

Dynamix year-end results Dynamix Corp DYX Shares issued 20,308,322 Mar 31 close $0.06 Mon 5 Apr 99 Company Review Mr. J. Robert Bateman reviews the company The 1998 fiscal year was a milestone in the history of the company. The year marked the closing of two acquisitions that brought it real assets and cash flow, items that had been missing for some time. The first acquisition, in March 1998, was Fastway Exploration Ltd., a geophysical data gathering company with a solid reputation and management. This acquisition gave substance to the company and provided it with the means to make the second acquisition, the purchase of a 25 per cent working interest in a gas development program in Kentucky. With initial encouraging and higher-than-expected results, the company looks toward continuing with another five well program in the summer of 1999. Ultimately, the program could be as large as 40-60 wells, which development will likely take up to five years, assuming continued success and high commodity prices, which have been ranging between $2.25-$2.50/thousand cubic feet (U.S.). Both acquisitions provide a long-term opportunity for growth in both the service and producing sides of the oil and gas industry. Furthermore, they represent the establishment of business in two countries, bringing several advantages in terms of currency exchange, business cycle stage and commodity pricing. CONSOLIDATED STATEMENT OF LOSS Year ended Sept. 30 1998 1997 Revenue $4,337,323 $ 12,766 ---------- ---------- Expenses Operating 3,796,531 1,899 General and admin 423,317 44,126 Depletion and depreciation 201,514 548 ---------- ---------- 4,421,362 46,573 ---------- ---------- Loss from operations and before other charge 84,039 33,807 ---------- ---------- Other charges Loss on foreign exchange 11,395 8,897 Loss on disposal of mineral properties 106,910 241,050 Loss on disposal of capital assets 1,653 - ---------- ---------- 119,958 249,947 ---------- ---------- Net loss $ 203,997 $ 283,754 ========== ========== Loss per share 1.1 cents 1.7 cents