Tower Resources Commences Ground Magnetic Survey To Guide Drilling, Insider Buys 1 Million Shares
Portfolio Pulse from Melanie Schaffer
Tower Resources has commenced a ground magnetic survey to guide its future drilling program after discovering copper, gold, and molybdenum at its Rainbow zone. The company's stock plunged 76% after releasing assays from its winter drilling program, but Geologist Stu Averill, a director of the company, purchased 1.2 million shares.
May 31, 2023 | 8:06 pm
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Tower Resources commences ground magnetic survey after Rainbow zone discovery, stock plunges 76%, but director buys 1.2 million shares.
Tower Resources' stock plunged 76% after releasing assays from its winter drilling program, which may have disappointed investors. However, the company's director, Geologist Stu Averill, purchased 1.2 million shares, showing confidence in the company's future. This mixed sentiment could result in a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100