Tower Resources (LON:TRP) Hits New 12-Month Low – What’s Next?

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

Tower Resources Stock Performance

The company has a market capitalization of £6.77 million, a P/E ratio of -0.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.21 and a quick ratio of 0.06. The firm has a fifty day moving average price of GBX 0.02 and a 200-day moving average price of GBX 0.02.

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.