posted
UDVE, United Developement International 01/09/04 = .115 (In August it was .03) 51 million shares, Cap $5.9 million I made a post on this stock awhile ago. They have acquired a number of claims on rivers in Guyana South America. The area is known for its gold and diamond properties. The rivers in the area have what are called Deep Pools, areas where the running water of the river has dug deep holes into the river bed. Over time, gold and diamonds of the surrounding land have been washed into the rivers and accumulated in these deep holes. UDVE has two barges, which are equiped with diamond recovery capabilities as well as gold They plan on acquiring 30 used barges which they will upgrade for diamond and gold dredging capabilities. On 1 Dec Scorpio Services made available $800,000 to UDVE and its price started climbing from the .03 level. They plan to use the money, plus the cash flow from their 2 barges, to buy and upgrade more barges. At present they are debt free. At this time they own a 25 mile (42 Kilometer) claim on the Konawaruk river and a 10 mile area of the Mazaruni river. On 12 Dec they obtained first right of refusal from Tuboku Mining Overseas for 15 addtional claims on the Mazaruni river plus 6 on the Kurpung river and a total of 12 more on the Potaro and Barima rivers which gives them an additional 28,800 acres. The company states that although the land surrounding the rivers has been mined for gold and diamonds by the local population for years, the area has never been subjected to modern exploration of airborn magnetic surveys etc. The company plans to use their cash flow to acquire land mining claims. The company says that other gold mining companies are also exploring the area. In addition to their Guyana South American properties, they have a property in the LaRouge gold belt in northern Canada plus properties in other countries, but right now they are concentrating on their river properties because of the unique Deep Pool formations in the rivers (from what I can figure out, there may be bands of soft and hard rock in the area and when the river runs over the soft rock, it cuts deep holes into the soft rock) which accumulate the gold AND the diamonds which wash into the river from rain water and small streams. Now that gold has formed a base above the $400 level, and looking back at previous times when gold has moved up, I am quessing that it is going to go above the previous +$800 range. The last time that gold went way up in price, the large gold companies went up in price, and after they had gone up in price, the penny stocks started moving upward and didn't stop untill they were in the multiple $$ range. I have been looking at low priced gold stocks and this is one that I have been buying. I bought it at .15 on its intial run up (Why didn't I buy some at .03? I still have the mind set that if a stock is priced at only a few cents, then there must be something wrong with it. I am now starting to realize that low is good.) Anyway, I have also realized that a pull back in a good stock, is a buying oportunity, and now that this stock has pulled back in price, I think that it has given us a chance to get back in it. Because this is a Pink Sheet stock, there is not a lot of information, such as sampling of the deep pools to get an estimation of the amount of gold and diamonds present, but considering that the local people have been able to mine gold and diamonds using primative methods, I would think that it is possible that there may be a LOT OF GOLD IN THEM THAR HILLS, well upside down hills (pools). And since, gold appears to be on a multiple year upward move, the penny gold stocks could be set to climb to the stars and as a STAR GAZER, I plan to be there with them instead of just watching them from the ground
Posts: 580 | Registered: Oct 2003
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Well they are back down to .03, but the news that has been coming out has been getting better and better even as they have been going down and down. However, I have seen other stocks do that on good news and then finally turn around and start a nice steady climb upward. I will buy some more here and then no more, just sit back and see what happens.
Posts: 580 | Registered: Oct 2003
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Nice to see you on the board Star. I wanted to get in on this the last time. I only vist it once a week now.
quote:Originally posted by STAR GAZER: Well they are back down to .03, but the news that has been coming out has been getting better and better even as they have been going down and down. However, I have seen other stocks do that on good news and then finally turn around and start a nice steady climb upward. I will buy some more here and then no more, just sit back and see what happens.
[This message has been edited by 56Ford (edited May 12, 2004).]
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