Monday, June 22, 2009
Appleton surges on Gold Assays
Appleton Explorations Inc.'s shares traded tremendous volume last week with the news of a ten metre intersection grading just over six ounces gold per tonne. These numbers would have caused a ballistic uptick prior to the fiasco from Busang but naturally the market is now tempered to numbers that are anomalous on the upside. However; the company managed to trade volumes that earned a ranking in the top five of all issues on the Canadian venture exchange last week. It's important to note that on a fully diluted basis, the company only has 55 million shares outstanding and any news that corroborates these results could provide stimulus to rocket the stock. Undoubtedly, company warrants will now be in the money and hence funds for continued exploration will be readily available. Obviously, this a a stock for any speculators watch list. (v.aex).