A stock may fall fairly steeply on a particular day but when such a thing happens, it is important for investors to figure out if the decline is going to continue or if the stock is going to bounce back swiftly. On Tuesday, the Appia Rare Earths & Uranium Corp (OTCMKTS:APAAF) stock was in the middle of a strong downward spiral and ended up with a decline of as much as 5% as a consequence.
In this situation, it could be a good move for investors to first have a better idea about the nature of the company’s operations before taking a look at the specific developments which may have led to the decline in the stock price.
Trading Data
On Tuesday, APAAF stock fell 5.08% to $0.23 with more than 45K shares, compared to its average volume of 83K shares. The stock moved within a range of $0.2249 – 0.2495 after opening trading at $0.2495.
About Appia Rare Earths & Uranium
The company is involved in the acquisition, exploration, development and evaluation of mineral properties situated in Canada.
The primary goal of Appia Rare Earths & Uranium is to explore for Uranium and other forms of rare earth deposits. In this regard, it is important to note that such minerals can often prove to be quite lucrative and that makes Appia Rare Earths & Uranium a company that could be worth following. Now that you have a fair idea about the situation with Appia Rare Earths & Uranium, it might be the right time to take a look at the announcement from yesterday from the company.
Appia Announces Exploration Update and Completion of Record 2022 Drilling Program of 17,481 Metres at Alces Lake Rare Earth Property, Northern Saskatchewan
Yesterday, the company announced that it had been successful in competing the initial stage of the exploration and drilling programme for its Alces Lake high grade rare earth elements and gallium property that it owns in its entirety.
It was a major new announcement from the company and it may be a good time to take a look at some of the highlights from the initial phase of the exploration program. Appia Rare Earths & Uranium announced that in the initial phase it had managed to drill a record metreage to the tune of as much as 17481 metres and that too in record time of four and a half months.
On the other hand, additional drilling would also take place in some of the zones which have high grade deposits but have remained undrilled. That is something that investors could do well to keep in mind when considering the exploration program. In this phase, Appia Rare Earths & Uranium had also been successful in completing the first drilling at the highly prospective zones at the West Limb.
It is going to be interesting to see if the latest information with regards to the exploration program brings about any traction for the Appia Rare Earths & Uranium stock over the coming days or not. At this point in time, investors could do well to keep an eye on further developments and watch for any signs of recovery. While the announcement from the company was a positive one from Appia Rare Earths & Uranium, it was clear to see that investors had not taken the whole thing kindly at all.
Technical Data
APAAF stock is trading below the 20-Day and 50-Day Moving averages of $0.25 and $0.28 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.43. The company has a total market capitalization of $28.29 million. The stock is down 7% over the past month.
