Tag:
Shuka Minerals
Ghost Bites
Ghost Bites (BHP | Brait | enX | Libstar | Reinet | Sephaku | STADIO)
Brait is stretching the definition of "value unlock" to breaking point. Libstar is having a rough interim period. BHP's Jansen Project is neither on time nor on budget. In happier news, STADIO's growth strategy is working and Sephaku grew earnings despite pressure at its associate. Reinet is starting to return cash to shareholders. enX found an international buyer for New Way Power.
Ghost Bites
Ghost Bites (Afrimat | Fortress Real Estate | MTN | SPAR)
MTN sets out Ambition 30 at its Capital Markets Day. SPAR is fighting for dear life, with the latest numbers showing just how tough it is. Fortress Real Estate is ticking over nicely. Afrimat is disposing of some quarries and concrete plants.
Ghost Bites
Ghost Bites (Fairvest | Ninety One | Putprop)
Fairvest has upgraded full year guidance, with B shareholders celebrating strong double-digit returns at the moment. Ninety One has returned to positive net inflows. Putprop is recycling capital into a property in Kramerville.
Ghost Bites
Ghost Bites (4Sight Holdings | Afrimat | Investec | Nampak | Netcare | Oceana | Pick n Pay | Sanlam | Spear REIT |...
Afrimat is a tale of two terrible halves. Investec wants to double its private banking business. Pick n Pay's group HEPS isn't telling you what is actually happening at Pick n Pay's core business. Updates also came in from 4Sight, Nampak, Netcare, Oceana, Sanlam, Spear REIT and Tharisa.
Ghost Bites
Ghost Bites (Equites Property Fund | KAL Group | Karooooo | NEPI Rockcastle | Reunert | Tharisa)
Equites Property Fund and NEPI Rockcastle are good reminders of the strength of REITs. KAL Group is one of the last "cheap" South African assets. Karooooo upset the market with its margins this year, but they are playing the long game. Reunert has been dragged down by its cables business. Tharisa's earnings have skyrocketed.
Ghost Bites
Ghost Bites (Astral Foods | MTN Ghana | Primary Health Properties)
Astral Foods has tightened its earnings guidance. MTN Ghana has banked another strong quarter. Primary Health Properties is delivering on merger synergies. And there are plenty of Nibbles today!
Ghost Bites
Ghost Bites (ASP Isotopes | Emira – Octodec | RMB Holdings | Sirius Real Estate)
ASP Isotopes has a make-or-break year ahead. Emira wants to acquire up to 34.9% in Octodec. The question marks around RMB Holdings continue. Sirius Real Estate had a strong year, mainly thanks to Germany.
Ghost Bites
Ghost Bites (Brait | Merafe | MTN Nigeria | Northam Platinum | Vukile Property Fund)
MTN Nigeria had a great year in 2025, but nothing comes close to the positive swing at Northam Platinum. Vukile is acquiring its first property in Madrid. Brait has sold R1 billion worth of shares in Premier. Merafe's 2025 numbers were horrible, as is to be expected when smelters were gathering dust.
