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Tower Resources ( (TSE:TWR) ) just unveiled an announcement.
Tower Resources Ltd. has announced an increase in its non-brokered flow-through private placement, aiming to raise up to $2,157,000. The proceeds will primarily fund a 3000-meter diamond drilling program on the Rabbit North property. This strategic move is expected to bolster Tower’s exploration efforts in British Columbia, potentially enhancing its market position and offering promising opportunities for stakeholders.
Spark’s Take on TSE:TWR Stock
According to Spark, TipRanks’ AI Analyst, TSE:TWR is a Neutral.
The overall score reflects significant financial challenges, with no revenue and persistent losses weighing heavily. Technical indicators suggest weak momentum, further dampening the outlook. However, recent positive corporate events, such as new resource discoveries, offer some promise for future potential, slightly boosting the score.
To see Spark’s full report on TSE:TWR stock, click here.
More about Tower Resources
Tower Resources is a Canadian-based mineral exploration company focused on discovering and advancing economic mineral projects in the Americas. The company’s key exploration assets are located in British Columbia, including the Rabbit North orogenic gold and porphyry copper-gold project, the Nechako porphyry-associated gold-silver project, and the More Creek epithermal gold project.
Average Trading Volume: 86,837
Technical Sentiment Signal: Buy
Current Market Cap: C$35.45M
For a thorough assessment of TWR stock, go to TipRanks’ Stock Analysis page.