Tower Resources (LON:TRP) Trading Down 6.7% – What’s Next?

Tower Resources plc (LON:TRP)’s share price dropped 6.7% during mid-day trading on Wednesday . The company traded as low as GBX 0.03 and last traded at GBX 0.03. Approximately 126,829,445 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 135,328,938 shares. The stock had previously closed at GBX 0.03.

Tower Resources Stock Performance

The company has a current ratio of 0.21, a quick ratio of 0.06 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of £9.04 million, a P/E ratio of -2.80 and a beta of 1.12. The business’s 50 day simple moving average is GBX 0.03 and its two-hundred day simple moving average is GBX 0.03.

Tower Resources Company Profile

Tower Resources is an African-focused energy company advancing its operation in Cameroon towards production and cash flow, and de-risking attractive exploration licenses in the emerging oil and gas provinces of Namibia and South Africa, where world-class discoveries have recently been made.

The Company’s strategy is to build a balanced portfolio of energy opportunities in Africa across the exploration and production cycle in oil and gas and beyond, in stable jurisdictions that the Company knows well and that offer excellent fiscal terms.