Short Interest in Thungela Resources Limited (OTCMKTS:TNGRF) Declines By 82.9%

Thungela Resources Limited (OTCMKTS:TNGRF) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 13,172 shares, a decline of 82.9% from the April 15th total of 77,123 shares. Based on an average daily volume of 21,451 shares, the short-interest ratio is presently 0.6 days.

Thungela Resources Stock Performance

Shares of OTCMKTS TNGRF remained flat at $8.05 during trading hours on Wednesday. The company had a trading volume of 2,587 shares, compared to its average volume of 18,906. The business’s 50-day moving average is $9.13 and its 200-day moving average is $6.96. Thungela Resources has a 52 week low of $4.25 and a 52 week high of $10.72.

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.