I agree.. it appears very undervalued ..Factors I have pointing...

I agree.. it appears very undervalued ..
Factors I have pointing to upside..

Legislation for increase ethanol ==> US experience looks like its not the distillers/ manufacturers but the feedstock growers that make the boom.==> Fundamental sugar price rise.

US direction moving toward eventual legislation forcing car manufacturers to manufacture vehicles which can take a high percentage ethanol mix. Those cars will arrive here.

Seems like Raw sugar prices just rose by more than 10%.

Bottom of building cycle?.. Potential higher interest rates balance off with the pent up demand. I see Australian housing as completely different from the US situation. The US is facing higher interest rates in an environment of a glut of houses brought on by a number of years of very low interest rates. We never had interest rates that low, so we never built up a glut of large houses we didnt need.

Aluminium.. I find this aspect of CSR hard to read.

Can anyone point out any downside from here, just to convince me not to dive into this further?