BizNews BizNews Radio

Thungela CEO attacks research report claiming new JSE listing is "drowning in liabilities."

Loading player...
This morning's debut by new JSE listing, coal mining group Thungela Resources, was tarnished by a research report claiming the company has massively understated liabilities and is essentially worth zero. Tungela's share price lost 10% from early trading levels. The parade-rainer came in the form of a 39-page research report from Boatman Capital, which reckons SA's new legislation on mining rehabilitation will swallow more that the Anglo American coal division spinoff is worth. In this podcast, Thungela CEO July Ndlovu argues the Boatman report is fatally flawed because it assumes draft legislation will be enacted in its current form. He says neogtiations with government, which have already lasted six years, are far from finalised. Veteran mining analyst Peter Major also weighs in. Learn more about your ad choices. Visit megaphone.fm/adchoices
7 Jun 2021 7AM English South Africa Investing · Business News

Other recent episodes

Corné Mulder says SA could have a new government before 2029

South Africa just joined a short and unflattering list of countries facing individual US visa restrictions, and Freedom Front Plus leader Corné Mulder says he saw it coming from a manifesto launch stage days before it happened. He tells Alec Hogg why he thinks Cyril Ramaphosa's habit of avoiding decisions…
17 Sep 10AM 28 min

GG Alcock says SA's R1-trillion "informal" economy is anything but

South Africa's townships are not a side economy. According to GG Alcock, author of the Kasinomics book series, they're a trillion-rand-plus market that the country's biggest listed companies are already quietly fighting over, from Shoprite's cash-and-carry pivot to Capitec's entrepreneur accounts to Pepkor's handset financing. Alcock, who grew up in…
17 Sep 7AM 49 min

Solly Moeng: BOTH Cyril AND Mashatile are too ill to run the country

In their latest weekly chat, Chris Steyn and Political Commentator Solly Moeng talk about both President Cyril Ramaphosa and Deputy President Paul Mashatile having been declared unfit - because they are too ill - to perform official duties; the US the visa restrictions for certain - still unamed -government officials;…
17 Sep 6AM 16 min
All episodes