It is flawed logic to look at CMM and say Tietto is cheap....

It is flawed logic to look at CMM and say Tietto is cheap. That’s a best in class company and management team (with 25 years of credibility) in Western Australia.

Even WAF with its quality performance of the last few years, higher profitability, and excellent growth project, is only half the market cap of CMM. Yes jurisdiction I know.

History shows that these valuation differences can, and likely will, exist in perpetuity. I wouldn’t be basing an investment case on something ‘having to correct’.