Added to YB: 2025-07-11
Pitch date: 2025-07-10
TGA.L [bullish]
Thungela Resources Limited
+7.36%
current return
Author Info
The Oak Bloke shares analysis of the UK stock market, particularly overlooked small caps. Sign up for the newsletter.
Company Info
Thungela Resources Limited engages in the mining and production of thermal coal in South Africa and Australia.
Market Cap
ZAR 11.0B
Pitch Price
ZAR 93.97
Price Target
N/A
Dividend
15.32%
EV/EBITDA
0.85
P/E
4.42
EV/Sales
0.12
Sector
Oil, Gas and Consumable Fuels
Category
value
Dragging Thungela over the coals
TGA.L: South African coal miner trading at 56% discount to NAV (91.6% ex-cash). 7yrs reserves + 38yrs resources. £5.94/tonne margin at current £80.51 price vs £74.12 costs. Bull case: rising Asian demand, falling global supply, $140 coal = £500M profit (sub-1x P/E). Bear case: sub-$100 coal. Bonus: early-stage methane project potential.
Read full article (6 min)