Buy Or Sell Opportunity • Jun 30
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 44% to UK£4.24. The fair value is estimated to be UK£5.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company became loss making. Announcement • Jun 10
Thungela Resources Limited Announces Changes to Its Board Thungela Resources Limited announced in the annual general meeting held on 5 June 2026, the company approved election of audit committee member: KW Mzondeki, Election of audit committee member: Mr. TD McKeith and election of audit committee member: BM Kodisang. Announcement • Jun 09
Thungela Resources Limited Approves Election of Social, Ethics and Transformation Members Thungela Resources Limited at its annual general meeting held on 5 June 2026 approved the election of social, ethics and transformation member: Mr. TD McKeith; Election of social, ethics and transformation member: Ms NY Jekwa; Election of social, ethics and transformation member: Mr. TM Madondo. Buy Or Sell Opportunity • May 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to UK£6.60. The fair value is estimated to be UK£5.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 01
Thungela Resources Limited, Annual General Meeting, Jun 05, 2026 Thungela Resources Limited, Annual General Meeting, Jun 05, 2026. Location: main auditorium, the johannesburg stock exchange, sandown, johannesburg South Africa Announcement • Apr 23
Thungela Resources Limited to Report First Half, 2026 Results on Aug 17, 2026 Thungela Resources Limited announced that they will report first half, 2026 results on Aug 17, 2026 New Risk • Apr 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Upcoming Dividend • Apr 09
Upcoming dividend of UK£0.089 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 05 May 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (3.7%). Recent Insider Transactions • Apr 08
Independent Non-Executive Director recently sold UK£154k worth of stock On the 31st of March, Seamus French sold around 21k shares on-market at roughly UK£7.38 per share. This transaction amounted to 68% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£517k more than they bought in the last 12 months. Declared Dividend • Mar 25
First half dividend of UK£0.089 announced Shareholders will receive a dividend of UK£0.089. Ex-date: 16th April 2026 Payment date: 5th May 2026 Dividend yield will be 2.5%, which is lower than the industry average of 6.7%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not adequately covered by cash flows (97% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 88% over the next 3 years. Since a fall of 25% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Reported Earnings • Mar 24
Full year 2025 earnings released: R54.64 loss per share (vs R26.76 profit in FY 2024) Full year 2025 results: R54.64 loss per share (down from R26.76 profit in FY 2024). Revenue: R29.6b (down 17% from FY 2024). Net loss: R7.09b (down 297% from profit in FY 2024). Revenue is expected to decline by 1.6% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to grow by 2.1%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • Mar 23
Thungela Resources Limited Approves Final Ordinary Cash Dividend, Payable on 20 April 2026 for JSE and 5 May 2026 for LSE Thungela Resources Limited approved the declaration of a final gross ordinary cash dividend of 200.00 cents per share (South African rand). The dividend has been declared from retained earnings. The dividend has been declared from retained earnings accrued during the six months ended 30 June 2025. Trading ex-dividend commences: 15 April 2026 for JSE and 16 April 2026 for LSE. Record date to participate in the dividend: 17 April 2026 for JSE and 17 April 2026 for LSE. Payment date to shareholders: 20 April 2026 for JSE and 5 May 2026 for LSE. No transfers of shareholdings to and from the South African or the United Kingdom (UK) register will be permitted between 14 April 2026 and 17 April 2026 (both dates inclusive). Share certificates may not be dematerialised or rematerialised between 15 April 2026 and 17 April 2026 (both dates inclusive). New Risk • Mar 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 34% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (97% cash payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to UK£6.30, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 7x in the Oil and Gas industry in the United Kingdom. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£10.50 per share. Announcement • Mar 03
Thungela Resources Limited Provides Earnings Guidance for the Year Ended 31 December 2025 Thungela Resources Limited provided earnings guidance for the year ended 31 December 2025. for the year, the company's loss per share is expected to be between ZAR 53.50 and ZAR 56.00, a decrease of between and ZAR 80.26 and ZAR 82.76 per share, compared to earnings per share of ZAR 26.76 reported for the year ended 31 December 2024 (the 'prior period'). The loss attributable to the shareholders of the Group for the current period is expected to be between ZAR 7.0 billion and ZAR 7.3 billion. Announcement • Dec 09
Thungela Resources Limited to Report Fiscal Year 2025 Results on Mar 23, 2026 Thungela Resources Limited announced that they will report fiscal year 2025 results on Mar 23, 2026 Recent Insider Transactions • Oct 05
CFO & Executive Director recently sold UK£281k worth of stock On the 2nd of October, Gideon Smith sold around 75k shares on-market at roughly UK£3.75 per share. This transaction amounted to 31% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Gideon has been a net seller over the last 12 months, reducing personal holdings by UK£302k. Upcoming Dividend • Sep 11
Upcoming dividend of UK£0.084 per share Eligible shareholders must have bought the stock before 18 September 2025. Payment date: 06 October 2025. Payout ratio is a comfortable 67% and the cash payout ratio is 97%. Trailing yield: 15%. Within top quartile of British dividend payers (5.5%). Higher than average of industry peers (4.7%). Board Change • Sep 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director Tommy McKeith was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Aug 20
First half dividend of UK£0.084 announced Shareholders will receive a dividend of UK£0.084. Ex-date: 18th September 2025 Payment date: 6th October 2025 Dividend yield will be 15%, which is higher than the industry average of 6.7%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not adequately covered by cash flows (97% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 59% over the next 3 years. Since a fall of 25% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Reported Earnings • Aug 19
First half 2025 earnings released: EPS: R1.93 (vs R9.52 in 1H 2024) First half 2025 results: EPS: R1.93 (down from R9.52 in 1H 2024). Revenue: R14.8b (down 12% from 1H 2024). Net income: R254.0m (down 80% from 1H 2024). Profit margin: 1.7% (down from 7.7% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to grow by 13%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 25 percentage points per year, which is a significant difference in performance. Announcement • Aug 18
Thungela Resources Limited Declares Interim Gross Ordinary Cash Dividend for the Six Months Ended 30 June 2025, Payable on 22 September 2025 for JSE and 6 October 2025 for LSE The Thungela board of directors approved the declaration of an interim gross ordinary cash dividend of 200 cents per share (South African rand). The dividend has been declared from retained earnings accrued during the six months ended 30 June 2025. Last day for trading to qualify and participate in the dividend: 16 September 2025 for JSE and 17 September 2025 for LSE. Trading ex-dividend commences: 17 September 2025 for JSE and 18 September 2025 for LSE. Record date to participate in the dividend: 19 September 2025 for JSE and 19 September 2025 for LSE . Payment date to shareholders: 22 September 2025 for JSE and Monday, 6 October 2025 for LSE . Announcement • Aug 08
Thungela Resources Limited Provides Group Earnings Guidance for the Six Months Ended June 30, 2025 Thungela Resources Limited provided group earnings guidance for the six months ended June 30, 2025. For the six months, the company expects earnings per share to be between ZAR 1.40 to ZAR 2.10, a decrease of between ZAR 7.42 to ZAR 8.12 per share compared to reported EPS of ZAR 9.52 for the six months ended 30 June 2024. Earnings attributable to the shareholders of the Group for the current period is expected to be between ZAR 180 million and ZAR 280 million. Headline earnings per share('HEPS') for the current period is also expected to be between ZAR 1.40 and ZAR 2.10, a decrease of between ZAR 7.42 and ZAR 8.12 per share compared to reported HEPS of ZAR 9.52 for the prior period. Headline earnings attributable to the shareholders of the Group for the current period is expected to be between ZAR 180 million and ZAR 280 million. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to UK£4.05, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 6x in the Oil and Gas industry in the United Kingdom. Total loss to shareholders of 39% over the past three years. Buy Or Sell Opportunity • May 01
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 37% to UK£3.73. The fair value is estimated to be UK£4.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.5% over the last 3 years. Earnings per share has declined by 43%. For the next 3 years, revenue is forecast to decline by 2.2% per annum. Earnings are also forecast to decline by 28% per annum over the same time period. Upcoming Dividend • Apr 17
Upcoming dividend of UK£0.46 per share Eligible shareholders must have bought the stock before 24 April 2025. Payment date: 12 May 2025. Payout ratio is a comfortable 49% and the cash payout ratio is 92%. Trailing yield: 13%. Within top quartile of British dividend payers (6.3%). Higher than average of industry peers (5.4%). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to UK£3.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 3x in the Oil and Gas industry in the United Kingdom. Total loss to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£4.62 per share. Buy Or Sell Opportunity • Apr 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to UK£3.89. The fair value is estimated to be UK£4.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.5% over the last 3 years. Earnings per share has declined by 43%. For the next 3 years, revenue is forecast to decline by 2.4% per annum. Earnings are also forecast to decline by 28% per annum over the same time period. New Risk • Mar 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 28% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 28% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (92% cash payout ratio). Profit margins are more than 30% lower than last year (10% net profit margin). Declared Dividend • Mar 19
Final dividend of UK£0.46 announced Shareholders will receive a dividend of UK£0.46. Ex-date: 24th April 2025 Payment date: 12th May 2025 Dividend yield will be 11%, which is higher than the industry average of 6.7%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not adequately covered by cash flows (92% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 41% over the next 2 years. However, it would need to fall by 46% to increase the payout ratio to a potentially unsustainable range. Announcement • Mar 17
Thungela Resources Limited Declares Final Gross Ordinary Cash Dividend for the Year Ended 31 December 2024, Payable on 29 April 2025 for JSE and 12 May 2025 for LSE The Thungela Resources Limited board of directors approved the declaration of a final gross ordinary cash dividend of 1,100.00 cents per share (South African rand). The dividend has been declared from retained earnings accrued during the year ended 31 December 2024. Trading ex-dividend commences for JSE 23 April 2025 and 24 April 2025 for LSE, Record date to participate in the dividend is 25 April 2025 for JSE and 25 April 2025 for LSE, Payment date to shareholders is 29 April 2025 for JSE and 12 May 2025 for LSE. Reported Earnings • Mar 17
Full year 2024 earnings released: EPS: R26.76 (vs R37.66 in FY 2023) Full year 2024 results: EPS: R26.76 (down from R37.66 in FY 2023). Revenue: R35.6b (up 16% from FY 2023). Net income: R3.59b (down 30% from FY 2023). Profit margin: 10% (down from 17% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 3.3% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Mar 17
Thungela Resources Limited, Annual General Meeting, Jun 05, 2025 Thungela Resources Limited, Annual General Meeting, Jun 05, 2025. Announcement • Mar 01
Thungela Resources Limited Provides Earnings Guidance for the Year Ended 31 December 2024 Thungela Resources Limited announced that shareholders are advised that earnings per share ('EPS') for the year ended 31 December 2024 is expected to be between ZAR 25.00 and ZAR 27.50, a decrease of between ZAR 10.16 and ZAR 12.66 per share compared to EPS of ZAR 37.66 for the year ended 31 December 2023. Earnings attributable to the shareholders of the Group for the current period is expected to be between ZAR 3.4 billion and ZAR 3.7 billion. Headline earnings per share for the current period is expected to be between ZAR 24.00 and ZAR 26.50, a decrease of between ZAR 8.47 and ZAR 10.97 per share compared to HEPS of ZAR 34.97 for the prior period. Headline earnings attributable to the shareholders of the Group for the current period is expected to be between ZAR 3.2 billion and ZAR 3.5 billion. Announcement • Jan 21
Thungela Resources Limited Announces CEO Changes Thungela Resources Limited notified shareholders of a proposed change to the Company's Chief Executive Officer. The Company's current CEO, Mr. July Ndlovu, will reach the retirement age of 60 years in July 2025 and, in accordance with the Company's retirement policy, is scheduled to retire from the employment of Thungela in 2025. July's exceptional leadership, his extensive mining experience and guidance have contributed to the growth and success of the Company. Following a comprehensive selection process, the board of directors of Thungela announced the appointment of Mr. Moses Madondo as the incoming CEO designate, effective 1 August 2025. Moses will succeed July, who will continue in his role until he steps down to facilitate a seamless transition. Moses is currently the Chief Executive Officer of De Beers Group Managed Operations and brings over 25 years of mining experience to the role in various senior leadership positions. Moses has also served on several divisional boards and as a board member of the Minerals Council of South Africa and Rand Refinery Ltd. He has demonstrated strong operational and technical skills and holds an Executive MBA, a Post Graduate Diploma in Management Practice, and a Bachelor of Science in Mechanical Engineering. Announcement • Dec 10
Thungela Resources Limited to Report Fiscal Year 2024 Results on Mar 17, 2025 Thungela Resources Limited announced that they will report fiscal year 2024 results on Mar 17, 2025 Upcoming Dividend • Sep 12
Upcoming dividend of UK£0.086 per share Eligible shareholders must have bought the stock before 19 September 2024. Payment date: 07 October 2024. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (5.0%). Reported Earnings • Aug 21
First half 2024 earnings released: EPS: R9.52 (vs R22.45 in 1H 2023) First half 2024 results: EPS: R9.52 (down from R22.45 in 1H 2023). Revenue: R16.8b (up 17% from 1H 2023). Net income: R1.29b (down 58% from 1H 2023). Profit margin: 7.7% (down from 22% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Aug 21
Thungela Resources Limited Declares Interim Ordinary Cash Dividend, Payable on 23 September 2024 for JSE and 7 October 2024 for LSE The board of Thungela Resources Limited has declared an interim ordinary cash dividend of ZAR 2.00 per share, payable to shareholders on the Johannesburg Stock Exchange and London Stock Exchange in September 2024 and October 2024, respectively. Trading ex-dividend commences: JSE- 18 September 2024; LSE- 19 September 2024; Record date to participate in the dividend: JSE- 20 September 2024; LSE- 20 September 2024; Payment date to shareholders: JSE- 23 September 2024; LSE- 7 October 2024. Announcement • Aug 19
Thungela Resources Limited Announces Company Secretary Changes Thungela Resources Limited advised of the retirement of company secretary, Francois Klem, in line with Thungela's retirement policy at the end of 2024. Altovise Alaxa Ellis (Tovi) has been appointed to take over as the Thungela company secretary, with effect from 1 November 2024. The board thanks Francois for his services and wishes Tovi well in her new position. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Yoza Jekwa was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 20
Thungela Resources Limited Provides Earnings Guidance for the Six-Months Ending 30 June 2024 Thungela Resources Limited provided earnings guidance for the six-months ending 30 June 2024. For the period, the company expects Earnings per share (EPS)5 for H1 2024 is expected to be between ZAR 7.00 and ZAR 10.00, thus between ZAR 12.45 and ZAR 15.45 lower than the H1 2023 EPS of ZAR 22.45 per share - a decrease of between 55% and 69%. Headline earnings per share (HEPS)5 for H1 2024 is expected to be between ZAR 7.00 and ZAR 10.00, thus between ZAR 12.46 and ZAR 15.46 lower than the H1 2023 HEPS of ZAR 22.46 per share - a decrease of between 55% and 69%. Announcement • Jun 13
Thungela Resources Limited Announces Committee Changes Thungela Resources Limited announced that Shareholders advised that independent non-executive director Yoza Jekwa (Yoza) has been appointed to the group's audit committee with effect from 10 June 2024. Yoza will also act as the chairperson for the group's social, ethics and transformation committee, with Sango Ntsaluba (Sango), the board chairman, appointed as a member to the social, ethics and transformation committee effective the same date. These appointments follow the vacancies created on the committees following the untimely passing of non-executive director Thero Setiloane on 1 May 2024. Both Yoza and Sango will serve on the committees on an interim basis until an additional non-executive director is appointed to the board. The directors believe that Yoza is suitably qualified and experienced to serve on the audit committee and to chair the social, ethics and transformation committee in an interim capacity owing to her extensive experience on other committees and boards. Announcement • May 03
Thungela Resources Limited Announces Passing Away of Thero Micarios Lesego Setiloane, Independent Non-Executive Director, Chairman of Social Ethics and Transformation Committee, Member of Audit Committee and Member of Health, Safety, Environment and Risk Committee Thungela Resources Limited announced passing away of Thero Micarios Lesego Setiloane on 01 May 2024. Thero served as an Independent Non-Executive Director since 07 March 2021. Thero also served as the Chairman of the Social Ethics and Transformation Committee, a member of the Audit Committee and a member of the Health, Safety, Environment and Risk Committee. Buy Or Sell Opportunity • Apr 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 1.6% to UK£5.75. The fair value is estimated to be UK£4.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.6% per annum. Earnings are also forecast to decline by 26% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to UK£6.29, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Oil and Gas industry in the United Kingdom. Total loss to shareholders of 6.2% over the past year. Simply Wall St's valuation model estimates the intrinsic value at UK£7.67 per share. Upcoming Dividend • Apr 11
Upcoming dividend of UK£0.42 per share Eligible shareholders must have bought the stock before 18 April 2024. Payment date: 07 May 2024. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 14%. Within top quartile of British dividend payers (6.0%). Higher than average of industry peers (4.3%). Buy Or Sell Opportunity • Apr 02
Now 22% overvalued Over the last 90 days, the stock has fallen 9.6% to UK£5.37. The fair value is estimated to be UK£4.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 6.5% in 2 years. Earnings are forecast to decline by 68% in the next 2 years. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: R37.66 (vs R127 in FY 2022) Full year 2023 results: EPS: R37.66 (down from R127 in FY 2022). Revenue: R30.6b (down 40% from FY 2022). Net income: R5.16b (down 70% from FY 2022). Profit margin: 17% (down from 34% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Oil and Gas industry in the United Kingdom. Announcement • Mar 18
Thungela Resources Limited, Annual General Meeting, Jun 04, 2024 Thungela Resources Limited, Annual General Meeting, Jun 04, 2024. Announcement • Feb 24
Thungela Resources Limited Provides Earnings Guidance for the Year Ended 31 December 2023 Thungela Resources Limited provided earnings guidance for the year ended 31 December 2023. For the year, the company expects earnings per share to be between ZAR 34 and ZAR 39, a decrease of between ZAR 88.08 and ZAR 93.08 per share compared to EPS of ZAR 127.08 for the year ended 31 December 2022 (the `prior period'). Earnings attributable to the shareholders of the Group for the current period is expected to be between ZAR 4.6 billion and ZAR 5.3 billion. Headline earnings per share (`HEPS') for the current period is expected to be between ZAR 31 and ZAR 36, a decrease of between ZAR 94.82 and ZAR 99.82 per share compared to HEPS of ZAR 130.82 for the prior period. Headline earnings attributable to the shareholders of the Group for the current period is likely to be between ZAR 4.3 billion and ZAR 4.9 billion (compared to ZAR 17.5 billion in the prior period). Announcement • Feb 13
Thungela Resources Limited to Report Fiscal Year 2023 Final Results on Apr 24, 2024 Thungela Resources Limited announced that they will report fiscal year 2023 final results on Apr 24, 2024 Buy Or Sell Opportunity • Jan 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to UK£5.43. The fair value is estimated to be UK£6.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last year. Earnings per share has declined by 27%. Revenue is forecast to decline by 12% in 2 years. Earnings are forecast to decline by 79% in the next 2 years. Announcement • Jan 09
Thungela Resources Limited to Report First Half, 2024 Results on Aug 01, 2024 Thungela Resources Limited announced that they will report first half, 2024 results on Aug 01, 2024 Announcement • Dec 20
Thungela Resources Limited to Report Fiscal Year 2023 Results on Mar 18, 2024 Thungela Resources Limited announced that they will report fiscal year 2023 results on Mar 18, 2024 Announcement • Dec 13
Thungela Resources Limited Provides Export Saleable Production and Sales Guidance for the Year Ending December 31, 2023 Thungela Resources Limited provided export saleable production and sales guidance for the year ending December 31, 2023. For the year ending December 31, 2023, the company expects total export saleable production of 12.9 Mt.For the year ending December 31, 2023, the company expects total export sales of 13.3 Mt. Buying Opportunity • Oct 03
Now 22% undervalued Over the last 90 days, the stock is up 24%. The fair value is estimated to be UK£9.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.2% over the last year. Earnings per share has declined by 27%. Revenue is forecast to decline by 19% in 2 years. Earnings is forecast to decline by 105% in the next 2 years. Upcoming Dividend • Sep 14
Upcoming dividend of UK£0.41 per share at 13% yield Eligible shareholders must have bought the stock before 21 September 2023. Payment date: 09 October 2023. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 13%. Within top quartile of British dividend payers (6.3%). Higher than average of industry peers (6.3%). Reported Earnings • Aug 23
First half 2023 earnings released: EPS: R22.45 (vs R67.23 in 1H 2022) First half 2023 results: EPS: R22.45 (down from R67.23 in 1H 2022). Revenue: R14.4b (down 45% from 1H 2022). Net income: R3.08b (down 66% from 1H 2022). Profit margin: 22% (down from 34% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 5.1% p.a. on average during the next 3 years compared to a 2.6% decline forecast for the Oil and Gas industry in the United Kingdom. New Risk • Aug 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 108% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 108% per year for the foreseeable future. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (7.2% average weekly change). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Recent Insider Transactions • Jun 12
CEO & Executive Director recently sold UK£1.1m worth of stock On the 6th of June, July Ndlovu sold around 202k shares on-market at roughly UK£5.47 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was July's only on-market trade for the last 12 months. Announcement • Jun 03
An unknown buyer acquired an unknown minority stake in Thungela Resources Limited from JPMorgan Chase & Co. An unknown buyer acquired an unknown minority stake in Thungela Resources Limited from JPMorgan Chase & Co. on May 31, 2023.An unknown buyer completed the acquisition of an unknown minority stake in Thungela Resources Limited from JPMorgan Chase & Co. on May 31, 2023. 