Valterra Platinum is undervalued as a strategic, integrated PGM platform rather than a traditional cyclical miner. ANGPY's 2025 adjusted EBITDA rose 68% to R33.4B, with margins expanding to 38%, supported by cost control and a net cash position. Valterra's processing and refining dominance, notably its PMR facility, provides structural advantages and strategic value beyond mine-level multiples.
Impala Platinum Holdings Limited (IMPUY) is a leading PGM mining company with significant industry presence. IMPUY has enjoyed strengthened balance books from the recent PGM price surge. Because company policy ties dividend payouts to free cash flow, IMPUY now boasts very attractive dividend yields.
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