CSM is an ambitious company. You can see this with their capital...

CSM is an ambitious company. You can see this with their capital raising, their deal with Andrew Forrest, their attempt to t/o TIR, purchases in RDR, their 13% buy in nickel explorer Mithril Resources and now their 8% purchase of PMM.

Portman is cashed up but lacking any clear strategic direction - what to do with the cash?? Is it possible that they might consider a merger with CSM? I think CSM would be very keen.

A takeover by CSM is impossible but a merger would create Australia's largest independent supplier of iron ore, manganese and chromite to the world, including potential nickel operations and a 50% stake in Andrew Forrest's iron ore and infrastructure play Fortescue.

Together PMM & CSM are a mining powerhouse for the future in my opinion.