Tower Resources* (TRP LN): NAV update

Mon, 20th Oct 2025 06:57

Tower has completed a small capital raise that allows the Company to maintain momentum towards drilling the offshore Cameroon NJOM-3 well in 1Q26, as well as keeping the PEL96 work programme on track in Namibia. We maintain our Speculative Buy rating and revise our 12-month target price to 0.13p/sh, which is based on the Core NAV plus the implied risked value of PEL96

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