A truck loaded with coal at an open-cast coal mine, operated by Exxaro Resources Ltd. and Thungela Resources Ltd., in Mpumalanga, South Africa, Sept. 9. Photographer: Waldo Swiegers/Bloomberg
A truck loaded with coal at an open-cast coal mine, operated by Exxaro Resources Ltd. and Thungela Resources Ltd., in Mpumalanga, South Africa, Sept. 9. Photographer: Waldo Swiegers/Bloomberg

Thungela – JSE’s surprise top performer still looks cheap at the price

Thungela remains “far too cheap,” even with its relatively short-life assets, said Ben Davis, a mining analyst at Liberum Capital Ltd. in London.
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Anglo coal spinoff looks cheap against peers after 1,300% surge

By Khuleko Siwele

(Bloomberg) – Thungela Resources Ltd. has soared more than 1,300% since the South African coal miner was carved out of Anglo American Plc last year. But despite this scorching rally, investors value the stock at a discount to worldwide peers, whose reserves of the fuel may last longer.

___STEADY_PAYWALL___

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