Thungela Resources Limited (OTCMKTS:TNGRF) Short Interest Down 93.3% in July

Thungela Resources Limited (OTCMKTS:TNGRF) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 2,071 shares, a decrease of 93.3% from the July 15th total of 30,954 shares. Based on an average daily trading volume, of 9,058 shares, the days-to-cover ratio is presently 0.2 days.

Thungela Resources Price Performance

TNGRF opened at $6.00 on Thursday. Thungela Resources has a fifty-two week low of $4.25 and a fifty-two week high of $10.72. The company’s 50 day moving average price is $6.60 and its two-hundred day moving average price is $7.72.

Thungela Resources Company Profile

Thungela Resources plc is a thermal coal producer with its core operations located in South Africa’s Mpumalanga region. The company operates a portfolio of open-pit coal mines that supply primarily thermal coal to domestic power producers and export customers. Its mines deliver coal for electricity generation in South Africa and for export markets across Asia and Europe, offering both standard steam coal and higher‐energy products tailored to customer specifications.

Formed in June 2021 through a spin-out from Anglo American plc, Thungela Resources inherited a vertically integrated mining platform with established infrastructure and long-term offtake agreements.