Read between the lines here... "ramping up preparations for next drill". Putting this in place only gives indication that results of existing drills will be really rather superb. HOLD or BUY at this stage imo. GL
Tower Resources Chairman & CEO, Jeremy Asher, commented:
"The purpose of the Bridge Loan is to provide the Company with working capital flexibility in preparation for the drilling of the NJOM-3 well on the Thali license in the event that completion of the Cameroon and Namibia farm-out agreements, announced on 10 January 2025, takes longer than expected. The Company is confident of receiving the government approvals required to enable completion and is still hoping to do so within the next few weeks. However, based on this confidence, the Company is also keen to ramp up preparations for drilling, including equipment procurement and staffing, in order to minimise the elapsed time between completion and drilling."
Under the WRAP Retail Offer, up to 5,000,000 New Ordinary Shares (the "WRAP Retail Offer Shares") will be made available at the same price as the equity fundraising that was announced on 31 January 2025 and completed earlier today following approval by Shareholders at the Company's General Meeting (the "Equity Fundraising"). The terms of and reasons for the Equity Fundraising and use of proceeds are detailed in the 31 January 2025 announcement and in the General Meeting circular. The proceeds of the WRAP Retail Offer will be utilised in the same way.
Metals One (AIM: MET1), which is advancing strategic minerals projects in Finland and Norway, is pleased to confirm details of a retail offer as announced on 31 January 2025. The retail offer will be facilitated via the Winterflood Retail Access Platform ("WRAP") to raise up to Β£100,000 (the "WRAP Retail Offer") at 2 pence per share (the "Issue Price") through the issue of new ordinary shares of Β£0.001 each in the capital of the Company that will be in existence following the share capital reorganisation (being the equivalent of 0.2 pence per share prior to the share capital reorganisation), also referred to in the Company's announcement of 31 January 2025 ("New Ordinary Shares").
Under the WRAP Retail Offer, up to 5,000,000 New Ordinary Shares (the "WRAP Retail Offer Shares") will be made available at the same price as the equity fundraising that was announced on 31 January 2025 and completed earlier today following approval by Shareholders at the Company's General Meeting (the "Equity Fundraising"). The terms of and reasons for the Equity Fundraising and use of proceeds are detailed in the 31 January 2025 announcement and in the General Meeting circular. The proceeds of the WRAP Retail Offer will be utilised in the same way.