Welcome to Ghost Wrap, your twice-weekly update on the most interesting company news in the South African market. In this episode of Ghost Wrap, we recap a busy couple of days: It's hard to find companies doing well in this environment, but Grindrod is one of them - if only the share price would notice! As expected, there's a further trading statement from Impala Platinum about just how bad things are. Merafe is doing very well, bucking the trend in the mining industry and continuing to trade at a dirt cheap multiple. In property, the trajectory locally and in Western Europe (represented by Resilient) is completely different to Central and Eastern Europe (NEPI Rockcastle) Base effects are important, as evidenced by looking at Santam and Sun International's latest numbers and comparing their through-the-cycle returns. 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.