Take Profit: Long Term Target Reached at R240

Research Notes January 2026 > https://www.unum.capital/post/rjan2026

Trade Local & Global Financial Markets with Unum Capital.

To get started, email tradingdesk@unum.co.za

African Rainbow Minerals

---

(Previous Post 21 January 2026)

African Rainbow Minerals is close R100 higher from our February 2025 note at 13390c and is also approaching our long term target of R240, with a high of +22800c today. Get ready to take profit. Alternatively, scale out (i.e. sell a portion of the position as approaches the R240 level.

---

Previous Post (14 October 2025): Long Term Target +240

Lester Davids

Senior Investment Analyst: Unum Capital