Tower Resources (LON:TRP) Trading 16% Higher – What’s Next?

Tower Resources plc (LON:TRP) was up 16% during mid-day trading on Thursday . The stock traded as high as GBX 0.03 ($0.00) and last traded at GBX 0.03 ($0.00). Approximately 528,086,375 shares changed hands during mid-day trading, an increase of 39% from the average daily volume of 381,045,250 shares. The stock had previously closed at GBX 0.03 ($0.00).

Tower Resources Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.06 and a current ratio of 0.21. The company has a market cap of £5.03 million, a price-to-earnings ratio of -2.65 and a beta of 1.12. The firm’s 50-day moving average price is GBX 0.03 and its 200 day moving average price is GBX 0.03.

About Tower Resources

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.