Up 157%: can Thungela keep going?
Coal’s the new gold — just look at Thungela’s record-breaking rally — but how long is the party likely to last?
If you have an interest in the environmental benefits of almond milk and paper straws, look away now: coal shares have gone bonkers.
Shares in Thungela Resources have gained sevenfold since listing on June 7 2021. This week, they hit an all time high of just over R230 - a gain of 157%, year to date. Exxaro Resources — which reflects the knock-on effect of international coal pricing in domestic markets — is 51% higher this year...