Tower Resources (LON:TRP) Shares Down 10% – Here’s What Happened

Tower Resources plc (LON:TRP)’s stock price was down 10% during mid-day trading on Monday . The stock traded as low as GBX 0.02 and last traded at GBX 0.02. 382,884,406 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 286,194,844 shares. The stock had previously closed at GBX 0.02.

Tower Resources Trading Down 10.0%

The company has a current ratio of 0.21, a quick ratio of 0.06 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of GBX 0.02 and a two-hundred day moving average of GBX 0.02. The firm has a market cap of £7.25 million, a P/E ratio of -0.30 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.