Tower Resources (LON:TRP) Trading Down 5.9% – Here’s Why

Tower Resources plc (LON:TRP)’s stock price traded down 5.9% on Friday . The stock traded as low as GBX 0.03 and last traded at GBX 0.03. 207,031,500 shares were traded during mid-day trading, a decline of 32% from the average session volume of 303,189,594 shares. The stock had previously closed at GBX 0.03.

Tower Resources Trading Down 8.8%

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 firm has a market capitalization of £9.09 million, a PE ratio of -3.10 and a beta of 1.12. The stock’s 50-day simple moving average is GBX 0.03 and its 200-day simple moving average 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.