Ghost Wrap #22 (Glencore | Anglo American | Sibanye-Stillwater | Capital Appreciation | MTN Nigeria | Prosus)

Welcome to Ghost Wrap. It's fast. It's fun. It's informative.

In this week's episode of Ghost Wrap, we cover:

• Glencore's dealmaking prowess, with the Teck Resources board pressured into giving the company a chance and Glencore executing an unrelated deal in Brazil for aluminium and bauxite assets for good measure.
• Anglo American's recent production update and the importance of the Quellaveco asset, along with the year-on-year declines in commodity prices in dollars.
• Sibanye-Stillwater's Keliber project in Finland and the support from the Finnish government in the form of out outsized equity investment in the project.
• Smart dealmaking from Capital Appreciation in the acquisition of Dariel Solutions, with a deal structure and valuation that seems to make a lot of sense.
• MTN's quarterly results in Nigeria, showing the importance of reading ALL the way down the income statement.
• The Prosus share buyback programme and the ongoing sale of shares in Tencent.

The Ghost Wrap podcast is proudly brought to you by Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Mazars website for more information.