Tower Resources (GB:TRP) has released an update.
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Tower Resources has announced a significant fundraising effort, placing over 4.4 billion shares at a discounted price to raise £1.19 million, aiming to support its oil and gas projects in Africa. The company is actively engaged in farm-out negotiations for its Thali project in Cameroon, seeking over $15 million in funding. This strategic move is designed to eliminate financial pressure and maintain operational momentum, particularly for drilling operations in Cameroon and exploration in Namibia.
For further insights into GB:TRP stock, check out TipRanks’ Stock Analysis page.