The Lemon Fool

I wonder what the paltry number of Thungela shares I shall receive on June 7 will be worth when dealings start on the LSE on the same day. I can't imagine there will be a frantic rush to acquire shares in a coal mining company in the context of climate change. What do other holders plan to do with their new holding?

1 share per every 10 in Anglo
and I'm keeping mine (both)

pje16 wrote:1 share per every 10 in Anglo
and I'm keeping mine (both)

Would that be both shares or both holdings? Looks like I shall be getting 66 shares. Hardly worth holding the new ones. I wonder how much it will reduce the Anglo s.p.; not much, hopefully. They have done very well for me of late, especially since I topped up when they were down which has paid off for once.

thinking both holdings at the moment
I'll be getting 70 so I'll see how much they worth, which if low may make me sell

Claims that Anglo American are overstating the value of coal mines in it's Thungela Resources spin off

https://www.msn.com/en-gb/money/other/a ... ar-AAKK6fU

Boatman alleges Thungela Resources’ clean-up costs could be three times greater than the amounts currently disclosed to investors.

A 39-page dossier entitled “Thungela Resources Ltd: Drowning in Liabilities”, seen by The Sunday Telegraph, argues that Anglo American has also overstated future coal sales and understated costs.

It says: “The demerger allows Anglo to dump enormous environmental costs onto a much less well capitalised company.

“To us, this looks like greenwashing: Anglo is claiming to be acting positively by reducing its greenhouse emissions while seemingly washing its hands of clean-up obligations.

Not very encouraging. I wonder what Cutifani will do with his own shares.

He and others sold in Mar21
https://www.hl.co.uk/shares/shares-sear ... ctor-deals

Looks like my 70 shares are today worth £83 - Wow !
Current live price is £119.10
Ticker is LON:TGA

pje16 wrote:He and others sold in Mar21
https://www.hl.co.uk/shares/shares-sear ... ctor-deals

Only enough to pay their tax biĺls. C. still holds enough to get a large no. of the new shares.

They are now listed in my holdings at EQI

pje16 wrote:Looks like my 70 shares are today worth £83 - Wow !

You wonder why they don't make a commission free sale offer to small shareholders as apart of these demergers when in value terms they are of a size equivalent to a special dividend.

For those holding the shares in a taxable form, what is the apportionment factor to be applied to prior purchase cost for CGT purposes?

pje16 wrote:Looks like my 70 shares are today worth £83 - Wow !
Current live price is £119.10
Ticker is LON:TGA

haven't even looked at these since J une
70 shares now worth £212 - @155% up - not bad percentage wise
Hindsight is the worst investment tool

Thungela is my best performing share this year by far; up 735% since I acquired them as a result of the AA spin-off in June 2021. No need to get jealous, however, since I only acquired 66 shares, now worth all of £373.43. I didn't top up during the ascendency because thermal coal mining isn't exactly a green investment though that won't slow the production and use when buyers are queuing to buy the coal. There are two ways of being green.

From II's Newswire today
Thungela posts "exceptional" maiden results on robust prices

Thungela, which has operations in South Africa, swung to a pretax profit of ZAR7.51 billion in 2021 from a loss of ZAR438 million in 2020.

Price down 40p today to 814

https://www.ii.co.uk/secure/my-news-fee ... 0496012300
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Now up to £12.03

pje16 wrote:Now up to £12.03

Did you add to your initial holding, PJE?

Bouleversee wrote:

pje16 wrote:Now up to £12.03

Did you add to your initial holding, PJE?

I didn't, I'm usually not bothered about corporate actions and just let the chips lie as they fall but for a tiny amount of time I idi d consider topping up to a more realistic holding size. Then couldn't be bothered, we're up something like 1700%, the best investment I never made...

Me, too!

kempiejon wrote:

Bouleversee wrote:

pje16 wrote:Now up to £12.03

Did you add to your initial holding, PJE?

I didn't, I'm usually not bothered about corporate actions and just let the chips lie as they fall but for a tiny amount of time I idi d consider topping up to a more realistic holding size. Then couldn't be bothered, we're up something like 1700%, the best investment I never made...

No sadly not

Thungela Resources Ltd said on Monday profit rose multifold as record high coal prices helped offset rail constraints in South Africa.

Thungela was spun off from Anglo American PLC in June last year and was then listed on both the London and Johannesburg stock exchanges in the same month.

For six months to June 30, pretax profit for the Rosebank-based coal miner multiplied to ZAR11.76 billion from ZAR260.0 million in the prior year.

"Very strong" coal prices led to a record half-year profit, notwithstanding significantly higher mining royalty charges and losses on derivative instruments, it said.

Benchmark coal prices reached an all-time high, averaging USD277 a tonne in the first half from USD97.71 per tonne around the same time last year.

Russia's war in Ukraine has sparked a global energy security crisis, exacerbated by supply constraints in several thermal coal producing regions.

Revenue soared to ZAR26.18 billion from ZAR10.05 billion, lifting adjusted earnings before interest, taxes, depreciation and amortisation to ZAR16.7 billion from ZAR1.9 billion.

Thungela declared an interim dividend of ZAR60 per share, making up 92% of adjusted operating free cash flow.
Earnings per share were strong at ZAR67.23 compared to ZAR3.13, while headline earnings per share leapt to ZAR67.23 from ZAR3.05.

Export saleable production fell by 7.7% to 6.1 million tonnes in the first half from 6.6 million tonnes previously, while domestic saleable production halved to 3.1 million tonnes from 6.4 million tonnes.

Looking ahead, Thungela revised its full-year export saleable production guidance downward to 13.0 million tonnes and 13.6 million tonnes for 2022, down from 14.0 million tonnes to 15.0 million tonnes forecast previously.

Annual export coal production was at 15.0 million tonnes in 2021.
The downward revision was due to continued inconsistent Transnet Freight Rail's rail performance prior to and following the maintenance shut.
The cola miner said it had started to evaluate alternative logistics arrangements to mitigate the risk of inconsistent rail performance.
Its shares were 1.7% higher at 1,432.00 pence each in London on Monday morning. In Johannesburg, the stock rose by 2.2% to ZAR284.87.

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