Tower Resources (LON:TRP) Sets New 12-Month Low – Here’s What Happened

Tower Resources plc (LON:TRP)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as GBX 0.01 and last traded at GBX 0.01, with a volume of 190852656 shares traded. The stock had previously closed at GBX 0.02.

Tower Resources Stock Down 6.3%

The firm has a fifty day simple moving average of GBX 0.02 and a 200 day simple moving average of GBX 0.02. 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 £6.77 million, a PE ratio of -0.25 and a beta of 1.12.

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.