South African Materials Undervalued over 20% based on DCF

Impala Platinum Holdings

Market Cap: R152.3b

Engages in the mining, processing, concentrating, refining, and sale of platinum group metals (PGMs) and associated base metals.

Sibanye Stillwater

Market Cap: R111.0b

Operates as a precious metals mining company in South Africa, the United States, Europe, and Australia.

Sappi

Market Cap: R16.1b

Engages in the provision of materials made from woodfiber-based renewable resources in Europe, North America, and South Africa.

Nampak

Market Cap: R4.1b

Engages in the manufacture and sale of packaging products in South Africa and rest of Africa.

Gemfields Group

Market Cap: R2.5b

Operates as a mining company.

Master Drilling Group

Market Cap: R2.3b

An investment holding company, provides specialized drilling services to blue chip major and mid-tier companies in the mining, civil engineering, construction, and hydroelectric power sectors.