All the gains from yesterday full 100% turnaround today!
Even JSE only 2.10% down.
Someone shorting behind numerous buys and sells or just the small fry who have no idea why they bought it, and even less idea why they sold it!
KEEP CALM.........! AND CARRY ON......! Time and patience is needed.
https://www.bloomberg.com/news/articles/2022-10-13/transnet-raises-its-wage-offer-to-end-strike-that-s-crippled-south-african-ports
QUOTE......!
Thungela Resources Ltd., South Africa’s biggest shipper of thermal coal, said it is still able to load vessels and berthing continues. The company’s stock levels at the ports “should be sufficient for around two-and-a-half to three weeks,” it said in a reply to questions.
Remember the next dividend is the end target. SP goes up and down as regular as night follows day!
Yes he's talking about new investors getting in now, I think we all appreciate the longer term risks associated with this stock, declining coal price, normalisation of gas/electric energy market, and gradual phasing out of coal, and the eventual end of Ukraine conflict.
Personally I'm giving this to mid 2023 for this, but everyone as an individual investor will have to make their own informed decisions weighing up all pro's and con's. Coal will still be around in 10 yrs but certainly the dividends will not be so rewarding.
To all those currently selling!
https://simplywall.st/stocks/za/energy/jse-tga/thungela-resources-shares/news/thungela-resources-jsetga-underlying-earnings-growth-outpace
RB futures Nov-Jan around 260! Not a massive fall.
Still a lot higher than when TR floated?
Thungela could buy their own locomotives, lease the track and rolling stock, and manage it themselves.
Couldn't do any worse that Transnet!
No doubt strike has impacted, but Thungela caught up in UK mini slide today.
A lot of LSE shares down 8, 9, 10% today.
Apart from small rise on DJ all other markets in red!
I'm holding for next results. A lot of people will be surprised by the dividend.
Yes covered b4. Advance refund not available if held in name of nominee broker.
You have to apply to SARS direct. You will need proof of UK residency from HMRC and original certified copies of dividend received from Broker.
Then the difficult bit. SARS forms!
Also helps to register for SARS eFiling!
Currently in process will post later under 20% WT post.
Might be a good thing. SP been stagnating lately. Rally today after fall. Remember if your holding then target is next divi which already has substantial profits locked in. Can't see this going 4-6 weeks?
As for Transnet you are correct, Govt owned but their management will come under increasing pressure to settle. If it drags out SA Govt will be losing considerable tax revenue If they get a favourable settlement we might get some productivity improvements that go along with the deal. A shake up in the Transnet Management would come in handy as well!
THUNGELA IS CONFIDENT IN ITS ABILITY TO MITIGATE POTENTIAL IMPACT OF TRANSNET STRIKE
Thungela has noted that the United National Transport Union has rejected the wage deal proposed by Transnet SOC Limited (Transnet) and has embarked on strike action. The strike commenced on 6 October 2022 and is likely to affect both rail and port services.
Industrial action will interrupt railing from our operations to the Richards Bay Coal Terminal (RBCT). Rail constraints over recent months have resulted in relatively high stockpile levels on our operations. Operations are however able to run without rail for a further seven days without experiencing a significant impact on production. In the event of a protracted strike extending to two weeks, we would be forced to further curtail production, with the potential resultant impact being a reduction of up to 300kt of export saleable production.
RBCT operates independently of Transnet and should be able to continue to load vessels, subject to Transnet continuing to provide a number of services required for the berthing and unberthing of vessels (for example pilots and tugboats). Given RBCT's ability to load vessels and Thungela's ability to draw down on healthy stock levels at port, we currently expect the impact on sales for Q4 2022 to be limited.
In light of previous security issues experienced on the coal corridor, Thungela is working with Transnet and other coal exporting parties to deploy additional security measures on the line. These include intensified helicopter surveillance, heightened focus on depots and an increase in the number of reaction teams on the ground.
We continue to engage with Transnet to understand further developments and the potential impacts on our business.