To be fair the PMM investment profit cannot be assumed to...

To be fair the PMM investment profit cannot be assumed to reoccur in the next half - it will in "kind" once the REM takeover goes through which to a good extent is to be paid for by the profit on PMM.

There are other corporate plays in place (and I think there will be more) which, in time, will priduce a profit one way or the other.

The second half will reflect significantly increased production capacity (pre sold) and higher selling prices.

I agree with you CSM continues to look good.