Tower Resources (LON:TRP) Shares Up 28.6% – Here’s Why

Shares of Tower Resources plc (LON:TRP) shot up 28.6% during mid-day trading on Thursday. The company traded as high as GBX 0.02 and last traded at GBX 0.02. 2,147,000,000 shares changed hands during mid-day trading, an increase of 683% from the average session volume of 274,142,625 shares. The stock had previously closed at GBX 0.01.

Tower Resources Price Performance

The firm has a 50 day moving average of GBX 0.02 and a 200-day moving average of GBX 0.02. The company has a market cap of £7.68 million, a P/E ratio of -0.28 and a beta of 1.12. The company has a current ratio of 0.21, a quick ratio of 0.06 and a debt-to-equity ratio of 0.07.

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.