Fission Energy Corp. (CVE:FIS) (PINK:FSSIF) stock price continues to gain ground supported by the company’s plans for a new exploration program.
FIS stock price added 11.8% on Tuesday under a trading volume of 1.5 million, which was more than three times the average of 483 thousand. The price is running wild for the second session since Fission announced plans for a drilling program.
The stock price gained nearly 16% over last two sessions alone after breaking out and establishing support at 83 cents per share.
Fission announced on November 14 a $7.3 million exploration program will be carried out starting this winter. The company, along with it partner Korea Waterbury Uranium Limited Partnership will be drilling 25 thousand meters using three drills at Waterbury Lake uranium project.
Operations will commence January 2012 with 69 holes planned to be drilled, most of it (75%) done at the J zone high grade uranium discovery. Analysts and traders are starting to pay attention to Fission, which is very likely to manifest through further increase in share price.
However, unless a clear target price is set, the increase might be only temporary . The stock price is very keen of going into consolidation, which mostly relates to the fact that there is significant potential to the business of Fission, but a more specific value remains unclear lacking results of the exploration.
