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

Thungela Resources Limited (OTCMKTS:TNGRF) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 15,800 shares, an increase of 71.7% from the August 31st total of 9,200 shares. Based on an average daily volume of 2,900 shares, the days-to-cover ratio is currently 5.4 days.

Thungela Resources Stock Performance

Shares of OTCMKTS TNGRF opened at $6.22 on Friday. The stock’s 50-day moving average is $6.42 and its two-hundred day moving average is $6.68. Thungela Resources has a 1-year low of $5.35 and a 1-year high of $10.39.

About Thungela Resources

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.