Marc Hasenfuss Editor-at-large

Shares in renewable energy group Montauk Holdings* have been all over the place in the past three months. This would suggest the market is still struggling to tag a value to Montauk’s profits, generated from production facilities extracting gas and energy from waste landfill sites in the US. At the end of October last year Montauk shares were trading at below R32 on the JSE — then rocketed to around R60 at the end of November and start of December. In mid-December the shares settled back to R42, followed by another surge to R60 on January 9. The recent moves in the crude oil price would have stirred sentiment. But increasing perceptions of a renewable energy boom in the US (despite initial fears that President Donald Trump’s administration would be unsympathetic to clean-energy production) may have spurred punters to take positions in Montauk. The shares are tightly held, and anyone determined to buy a sizeable parcel might have needed to bid up the price markedly. At the time of wr...

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