In early trading today, USCN picks up 160% on last weeks news that it can now achieve a positive cash flow due to a deal with Noble Technologies.
Staging a comeback from June, and continuing its Friday jump in share value, U.S. Canadian Minerals Inc., (OTCBB: USCN) http://www.uscanadianminerals.com/ picked up 160% ($0.48) in early trading keeping its 5 day rally alive. Currently trading in the $0.78 range, USCN has a new market cap of $4.6 million. USCN nearly tripled its 3-Month average daily trading volume of 67,004 shares in a few hours.
Last Wednesday, USCN announced it had completed a share exchange with Noble Technologies Corp., (private) and USCN issued and delivered 400,000 Class A preferred shares of its capital stock in exchange for 100% of the issued and outstanding voting common shares of Noble.
One of the results of the share exchange was that USCN would experience a 'change in control' of the Company. As a wholly owned subsidiary of the Company, Noble creates an opportunity for the Company to achieve positive cash flow on an accelerated basis through its operations at a 31,000 square foot facility in McCarran, Nevada which is focused on the processing, smelting and refining of precious and base metal ore bearing concentrates.
USCN operates as an exploration stage company in North and South America. USCN holds interest in COD Mine, which consists of 13 BLM Lode claims totaling 260 acres and is located near Kingman, Arizona.
In the $0.78 range USCN is below its 52-week high of $0.90 set on 05-27-09 and far, far above its 52-week low of $0.02 set on 03-20-09. At $0.78, USCN is above both its 50-day and 200-day moving averages. USCN's shares out versus float ratio is near-parity.
A 3-MONTH CHART ON USCN
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