Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. South Africa
  4. Johannesburg Stock Exchange
  5. Thungela Resources Limited
  6. News
  7. Summary
    TGA   ZAE000296554

THUNGELA RESOURCES LIMITED

(TGA)
  Report
End-of-day quote Johannesburg Stock Exchange  -  2022-12-05
283.80 ZAR   -2.87%
11/24Thungela Consolidates 100% Stake in Anglo American Inyosi Coal
MT
11/24Thungela buys remaining stake in Anglo American Inyosi Coal for shares
AN
11/24Thungela Resources to Take Full Ownership of Zibulo Operation, Elders Project
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Thungela buys remaining stake in Anglo American Inyosi Coal for shares

11/24/2022 | 08:02am EST

(Alliance News) - Thungela Resources Ltd said on Thursday it had reached an agreement with its black economic empowerment partner Inyosi Coal Pty Ltd to acquire the remaining interest in Anglo American Inyosi Coal Pty Ltd in exchange for shares in Thungela.

Thungela has a 73% interest in Anglo American Inyosi Coal.

On completion of this acquisition, the Rosebank-based coal miner will acquire the remaining 27% stake and own 100% of Anglo American Inyosi Coal, whose assets include the Zibulo operation and the Elders production replacement project.

Thungela will fund the acquisition by issuing 4.2 million new shares to Inyosi, which represents a 3.02% holding.

Taking the current share price of Thungela, this interest is valued at about ZAR1.2 billion. Thungela has a market capitalisation of ZAR37.73 billion.

Its shares gained 2.8% at ZAR276.79 on Thursday afternoon in Johannesburg. In London, the stock rose by 1.1% to 1,333.00 pence.

The non-controlling interest attributable to 27% shareholding in Anglo American Inyosi Coal was ZAR696 million for six months that ended June 30, Thungela said.

"The transaction marks a new chapter in our relationship with Inyosi, as we unlock value and liquidity for Inyosi as they transition from asset partners to investors in Thungela. The transaction also underscores Thungela's commitment to sound capital discipline as we invest in a highly cash-generative asset that we know exceptionally well - our own operations and project opportunities such as Elders," Thungela Chief Executive July Ndlovu said.

By Artwell Dlamini; artwelldlamini@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC -0.37% 3324.5 Delayed Quote.10.23%
THUNGELA RESOURCES LIMITED -2.87% 283.8 End-of-day quote.235.70%
All news about THUNGELA RESOURCES LIMITED
11/24Thungela Consolidates 100% Stake in Anglo American Inyosi Coal
MT
11/24Thungela buys remaining stake in Anglo American Inyosi Coal for shares
AN
11/24Thungela Resources to Take Full Ownership of Zibulo Operation, Elders Project
MT
11/24Thungela Resources Limited agreed to acquire 27% stake in Anglo American Inyosi Coal Lt..
CI
10/12South Africa's busiest ports hobbled by strike
RE
10/12South Africa's busiest port Durban hobbled by strike
RE
10/11South Africa's busiest port Durban hobbled by strike
RE
10/11South Africa's busiest port Durban hobbled by strike
RE
10/11S.Africa's Tharisa sees strong chrome demand from China despite COVID curbs
RE
10/06Thungela Resources Expects No Immediate Impact From South Africa Transport Strike
MT
More news
Financials
Sales 2022 59 936 M 3 461 M 3 461 M
Net income 2022 23 029 M 1 330 M 1 330 M
Net cash 2022 19 229 M 1 110 M 1 110 M
P/E ratio 2022 1,67x
Yield 2022 53,8%
Capitalization 37 850 M 2 186 M 2 186 M
EV / Sales 2022 0,31x
EV / Sales 2023 0,35x
Nbr of Employees -
Free-Float 96,6%
Chart THUNGELA RESOURCES LIMITED
Duration : Period :
Thungela Resources Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends THUNGELA RESOURCES LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 283,80 ZAR
Average target price 339,50 ZAR
Spread / Average Target 19,6%
EPS Revisions
Managers and Directors
July Ndlovu Chief Executive Officer & Director
Gideon Frederick Smith Chief Financial Officer & Director
Sango Siviwe Ntsaluba Non-Executive Chairman
Leslie Martin Executive Head-Technical
Johannes Petrus Daniel van Schalkwyk Chief Operating Officer