Applied Minerals, Inc. (OTC:AMNL) got the progressive move again. After the one-day price fall, yesterday the stock price started 
rising up along with the traded volume. If it is a new effort for a bullish trend or a short-term gain, it’s just about to be seen.
Last week, AMNL soared 10% on the market due to a positive update released by the company. According to it, Applied Minerals has published a progress report including a resource statement on Dragon Mine in Utah. Apparently, the report impressed investors and AMNL immediately hit the gain. Though, on the next day the stock cut off the up move. Now the climb is on again and it is interesting how long it will resist this time.
Applied Minerals, Inc. is an exploration-stage company engaged in the exploration and development of resource properties in the US. Last summer, the company used to trade higher than $1.00 per share, however, since then the stock price has moved down. Will AMNL get back to $1.00 again?
Yesterday, Applied Minerals reported it has sold a total of 150,000 shares of common stock at $0.90 per share to one purchaser. This price was based on the closing price of the AMNL common stock on April 15 and the sale was unsolicited.[BANNER]
Just a few days before the sale of equity securities was announced, the company filed its annual results for 2010, which were completely discouraging. Apart from the fact that the 10-K form is full of risk factors related to the future existence of Applied Minerals, the company’s financial condition is not promising at all.
Actually, the report contains a going concern note expressing substantial doubt about the continuation of AMNL, based on the significant amount of liabilities and increasing losses. In that case, until Applied Minerals produces enough revenue to fund its operations it will keep relying on credit facilities and public or private sales of equity to support its activities, or to cover the losses instead.
