Thungela Resources Limited (OTCMKTS:TNGRF) Sees Significant Growth in Short Interest

Thungela Resources Limited (OTCMKTS:TNGRF) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 356,300 shares, a growth of 2,971.6% from the February 28th total of 11,600 shares. Based on an average daily trading volume, of 2,700 shares, the days-to-cover ratio is currently 132.0 days.

Thungela Resources Price Performance

Shares of OTCMKTS:TNGRF traded up $0.08 during midday trading on Thursday, reaching $5.84. The company had a trading volume of 280 shares, compared to its average volume of 6,697. The business’s 50 day moving average price is $6.59 and its 200 day moving average price is $6.78. Thungela Resources has a 1-year low of $5.60 and a 1-year high of $7.94.

Thungela Resources Company Profile

Thungela Resources Limited engages in the mining and production of thermal coal in South Africa and Australia. It owns interests in and produces its thermal coal from mining operations, consisting of underground and open cast mines in the Mpumalanga province of South Africa, including including Goedehoop colliery, Greenside colliery, Isibonelo colliery, Khwezela colliery, Zibulo colliery, Mafube colliery, and Rietvlei colliery.