UNITED DEVELOPMENT INTERNATIONAL CORPORATION (UDI RESOURCES - PINK SHEETS: UDVE)

Dear Reader,

What do Carol Channing and King Midas have in common? Very little other than their individual and professed passions for two of the most sought after commodities in the world- Diamonds and Gold.

Today’s StockUpTick’s feature has a business plan uniquely built on both these treasures. UDI Resources (pink sheets: UDVE) operates mines in Guyana that are producing gold AND diamonds and because of that unique fact, we have chosen as we rarely do, to feature a pink sheet company.

Generally, we train our sites on small NASDAQ or OTC deals but every now and then we’re introduced to a pink sheet deal that warrants our attention. Most investors maintain a small high-risk element to their portfolio and we will occasionally try and bring deals to your attention that may meet your criteria.

Today’s feature is intriguing in so far that it is founded in the most coveted resource of all time- gold. In the history of mankind, gold has been the prevailing form of currency and even today amid a digital world and technological advances, gold remains prized and revered in a variety of ways. Remember, dear readers, nobody wears a stock certificate.

So, we’re pleased today to bring to your attention a bold mining company which has found more than gold in them ‘thar hills. They’ve also reportedly located a wealth of diamonds among their bounty.

Perhaps, our portfolios can be so fortunate!
 
 

ABOUT UDI RESOURCES

United Development International Corp., ("UDI RESOURCES" "UDI") operates a resource operation in the country of Guyana, and another in Canada. UDI currently has offices, or affiliate offices, in South America and Canada. The corporate and legal office for the company is located in the state of Nevada.  As a resource producer, UDI benefits from the properties and contract relationships under its management that primarily mine gold and natural minerals. UDI has a strong market presence in the countries that it operates, including alliances with local companies.  The ongoing gold exploration and initial gold extraction and production business that is at the core of UDI's business model is concentrated on developing two very distinct gold properties in the Western Hemisphere.

THE TWO UDI PROPERTIES

UDI has a property in Canada and a property in Guyana in South America. The company is initially concentrating on most of its resources on the Guyana property because of the immediate revenues that are available.  The Canadian property is being brought online to produce at a consistant pace, however the Guyana property is 'up and running' and  currently ready to begin producing revenues. 

Property One

The La Ronge property in Northern Saskatchewan, Canada is currently the focus of strategic planning at UDI for an extensive exploration program. The work will include a six hole initial drill program and ground sampling. This program is designed to better evaluate previously discovered gold intersections in soils over a wide spread area. 
 

The property is located just 15 kilometers north of LaRonge Saskatchewan, and lies on the LaRonge gold belt, which has hosted many mines in the area. One of the most recent was the Contact Lake Gold Mine which is approximately 15 kilometers northeast.  A few years earlier there was the Anglo Rouyn Copper / Gold Mine which was only 25 kilometers northeast. There are also many other properties in the region currently under development.  A current work program consisting of magnetic, VLF-EM surveys and diamond drilling lead to discovery of gold near the southern boundary of the claims in late 1997.  From 1997 to 2001, 35 holes were drilled, with anomalous gold being intersected in 19 out of a 35 holes, with the best intersection averaging 1.05 ounces per ton over eight feet.

Property Two 

Potaru Mining District of Guyana, South America, The Konawaruk River property is a very unique property for UDI in that it is already producing small amounts of gold from alluvial deposits, in addition to the possibility of extensive gold discoveries over the 25 square miles covering the claim. Gold grades up to 5 ounces per ton have been uncovered in the area within the same geologic setting as the UDI claim. 

Prior to 1922 this property produced 91,000 ounces of gold using outdated extraction methods. Historical data compiled in 1935 and 1953 outline a delineated resource of 60 million cubic yards of material with a grade of 3.43 grains per cubic yard. This equates to a current resource 431,494 ounces of gold on the property. This data has been confirmed in a geological report submitted October 2001. 

Furthermore this area is considered "under explored" and has not been the subject of sophisticated modern exploration techniques or methods at all. UDI Resources views this property as having excellent potential to produce a sizable, if not world class, gold resource and intends to initiate appropriate, aggressive work programs to determine its true value. 
 

Where is Guyana? Guyana is located in South America bordering Venezuela to the north and Suriname and Brazil to the south  What is the current climate for mining in South America and Guyana? The government of Guyana is friendly to outside mining and exploration companies and  recognizes the economic value of opening up more of the country to exploration activities. Is Guyana politically and economically stable?  Formerly British Guiana, the country has been independent since 1966 and is  now a republic. Supervised elections in late 1992, the first since independence, displaced the PNC party which oversaw economic ruin during the 1970's and 1980's.  How important is mining to Guyana? The economy of Guyana is dominated by resource exports: gold, bauxite, diamonds, rice, sugar, timber, with little other industry.

The economy of Guyana is growing at 6% annually after contracting during the 1970's and 1980's; opening of the Omai gold mine in 1993 increased the GDP by about 25%. Guyana is a member of CARICOM (Caribbean common market) and compared to some other South American countries, Guyana is considered stable and represents a significant opportunity for mineral resource exploration. 
 

RECENT NEWS FROM UDI RESOURCES

Company News and Press Releases From Other Sources:

LAS VEGAS, May 6, 2003 (BUSINESS WIRE) -- United Development International (Pink Sheets:UDVE) management is pleased to announce that the company has concluded financing on the purchase of an initial suction dredge in Guyana. The dredge was purchased from North American Resources, which has been exploring and working in the property claim area for many years. This purchase is the catalyst for United Development International (UDI) to initiate gold production from the joint venture property and realize cash flow from operations. The property is comprised of 25 square miles along the Konawaruk River and past production from limited operation by North American has proven to be in excess of 150 ounces of gold per month. 

The dredge is being refitted for increased production capabilities and will begin gold production shortly. In addition to this purchase, management is also pleased to announce it is negotiating the purchase of a second dredge that will allow the company to double production and cover more area along the river. 

According to Director Robert Doherty, "We are extremely pleased with our development to date and are now in a position to benefit from the dredging operation from a cash flow position. We know the gold is there from previous work and geological reports and from day to day operations. All you have to do at the end of the day is look in the recovery box and you can see it." 

To read the entire release and Safe Harbor, click here
 

Working Dredges On The River

* * * DIAMONDS * * *

THE SHORT, MEDIUM AND LONG-TERM STRATEGIES OF UDI RESOURCES

The Short-term objective is to become a gold producing company with cash flow. This is easily attainable from dredging operations. 

The Mid-term strategy is to create a larger presence in our areas of concentration by acquiring and constructing more dredge equipment as well as exploring hard rock potential throughout the region including Venezuela, Suriname and Brazil. 

The Long term is the continuation of claim acquisition, alluvial as well as lode gold exploration and diamond production.
 
 

River Bank Drilling, Lode Nuggets, Assay Filings and Smelted Gold

MANAGEMENT

Mr. Doherty is a proud citizen of the "Commonwealth of Canada". Mr. Doherty received his Bachelor of Arts degree in 1990 from the University of Saskatchewan and went on to receive a Bachelor of Education degree from the University of British Columbia in 1994. Throughout his career, Mr. Doherty has forged sound business practices, understanding of Exchange rules and regulations, and has developed strong leadership skills. 

Mr. Knudsen is a Canadian citizen and currently resides in British Columbia. In 1988 he enrolled in, and graduated from, a Saskatchewan prospectors course. 
He has been involved in working in and around numerous mines throughout Northern Saskatchewan. He was involved in building the road and site work at Contact Lake Gold Mine, Star Lake Gold Mine, McClean Lake Uranium Mine. He was also involved with the winter road into the now McCarthur River Uranium Mine. 
 

SELECTED FINANCIAL HIGHLIGHTS

For a current quote on UDI shares, click on the pink sheets logo above or click here

CONTACT

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