Tower Resources (LON:TRP) Shares Up 16% – Here’s What Happened

Shares of Tower Resources plc (LON:TRP) traded up 16% on Thursday . The stock traded as high as GBX 0.03 ($0.00) and last traded at GBX 0.03 ($0.00). 528,086,375 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 381,045,250 shares. The stock had previously closed at GBX 0.03 ($0.00).

Tower Resources Stock Up 16.0 %

The firm has a market capitalization of £5.21 million, a PE ratio of -2.65 and a beta of 1.12. The firm’s 50 day moving average price is GBX 0.03 and its two-hundred day moving average price is GBX 0.03. The company has a quick ratio of 0.06, a current ratio of 0.21 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.