Short Interest in Thungela Resources Limited (OTCMKTS:TNGRF) Declines By 93.3%

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

Thungela Resources Trading Down 2.9%

Shares of TNGRF stock traded down $0.18 during mid-day trading on Tuesday, reaching $6.00. 838 shares of the company’s stock traded hands, compared to its average volume of 12,954. Thungela Resources has a 12 month low of $4.25 and a 12 month high of $10.72. The firm has a 50 day moving average price of $6.73 and a two-hundred day moving average price of $7.72.

About Thungela Resources

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.