Short Interest in Thungela Resources Limited (OTCMKTS:TNGRF) Declines By 90.3%

Thungela Resources Limited (OTCMKTS:TNGRF) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 11,600 shares, a decline of 90.3% from the February 13th total of 119,500 shares. Based on an average trading volume of 13,500 shares, the days-to-cover ratio is currently 0.9 days.

Thungela Resources Price Performance

TNGRF remained flat at $6.50 during trading on Wednesday. Thungela Resources has a twelve month low of $5.60 and a twelve month high of $7.94. The company’s fifty day moving average price is $6.76 and its 200-day moving average price is $6.81.

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.