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Tower Resources ( (GB:TRP) ) just unveiled an announcement.
Tower Resources plc has announced a subscription to raise £280,000 through the issuance of 1,000,000,000 ordinary shares at a slight discount to the market price. This move follows a previous subscription and is intended to bolster the company’s working capital amid increased investor demand. The funds will support ongoing operations and projects, particularly in Cameroon, where the company is focusing on the Thali project. The subscription also includes broker warrants, reflecting investor confidence and strategic positioning in the African energy market.
More about Tower Resources
Tower Resources plc is an AIM-listed energy company focused on building a balanced portfolio of energy opportunities in Africa, particularly in the oil and gas sector. The company is advancing operations in Cameroon to generate cash flow through short-cycle development and rapid production, while also exploring opportunities in Namibia and South Africa, where significant discoveries have been made. Tower Resources emphasizes operations in stable jurisdictions with favorable fiscal terms and leverages extensive expertise through its directors and strategic partnerships.
Average Trading Volume: 376,584,878
Technical Sentiment Signal: Sell
Current Market Cap: £9.38M
See more insights into TRP stock on TipRanks’ Stock Analysis page.