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

Thungela Resources Limited (OTCMKTS:TNGRF) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 9,600 shares, a drop of 37.7% from the October 31st total of 15,400 shares. Based on an average daily trading volume, of 4,800 shares, the days-to-cover ratio is currently 2.0 days.

Thungela Resources Stock Down 5.2 %

OTCMKTS:TNGRF traded down $0.38 during mid-day trading on Thursday, hitting $6.90. 14,336 shares of the company’s stock were exchanged, compared to its average volume of 3,370. Thungela Resources has a fifty-two week low of $5.35 and a fifty-two week high of $9.00. The company has a 50 day simple moving average of $6.96 and a 200-day simple moving average of $6.74.

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.