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Tower Resources ( (TSE:TWR) ) just unveiled an announcement.
Tower Resources Ltd. announced a $2,000,000 non-brokered flow-through private placement to fund a diamond drilling program on its Rabbit North property. This initiative aims to confirm and expand the gold resources in the Blue Sky and Thunder North zones, potentially enhancing the company’s position in the mineral exploration industry. The drilling will also explore new targets identified by a recent gold-grain survey, underscoring the potential of the Rabbit North site as a significant orogenic gold system.
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: 100,356
Technical Sentiment Signal: Buy
Current Market Cap: C$33.03M
Find detailed analytics on TWR stock on TipRanks’ Stock Analysis page.