Yesterday Appia Energy Corp (OTCMKTS:APAAF) was in focus among many investors after the company announced that it started work on the first of two planned radiometric studies at its uranium properties.
The properties in question are situated at the Athabasca Basin in the northern Saskatchewan province in Canada. It is a significant development since the company is looking to discover high grade uranium at this particular property and market participants thought the same. The Appia Energy stock surged by as much as 3% after the announcement was made by the company and it now remains to be seen if the stock can continue to add to its gain today to finish the week strongly.
The company announced yesterday that it contracted the services of Geotech Ltd for the purposes of the surveys on the properties at North Wollaston and Loranger. It is important to note the first of the two radiometric studies has already started on the North Wollaston property. It is an important new initiative from the company as it tries to become an important player in the potentially lucrative Uranium space. The Appia stock could be added to the watch lists at this point.