We initiate coverage of Tower Resources with a BUY recommendation and PT of 6.5p. We believe the current share price suggests the market is failing to ascribe material value to Njonji in Cameroon, despite an independent CPR assigning a probability of 80% and a risked EMV of over $100m for a phase 1 development.
24 Apr 2019
Subtitle | Cameroon rising
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Subtitle | Cameroon rising
Tower Resources plc (TRP:LON) | 0.0 0 0.0% | Mkt Cap: 3.08m
- Published:
24 Apr 2019 -
Author:
Jessica Saadat -
Pages:
31
We initiate coverage of Tower Resources with a BUY recommendation and PT of 6.5p. We believe the current share price suggests the market is failing to ascribe material value to Njonji in Cameroon, despite an independent CPR assigning a probability of 80% and a risked EMV of over $100m for a phase 1 development.