Thungela Resources Limited (OTCMKTS:TNGRF) Sees Large Increase in Short Interest

Thungela Resources Limited (OTCMKTS:TNGRF) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 30,954 shares, an increase of 732.5% from the June 30th total of 3,718 shares. Based on an average daily volume of 13,255 shares, the days-to-cover ratio is currently 2.3 days.

Thungela Resources Stock Performance

OTCMKTS:TNGRF opened at $6.50 on Monday. Thungela Resources has a one year low of $4.25 and a one year high of $10.72. The stock has a 50-day simple moving average of $7.24 and a 200 day simple moving average of $7.75.

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.