OK, so TWP is a large unknown, and may or may not suck revenue from BSR, we shall see. And share dilution and a high earnings base might explain the low PE. but BSR turns over R6bn vs R33bn for Aveng, so I reckon its growth is far more sustainable. If TWP turns profit (and it has always been profitable, from what I can see of its books) - it will be a windfall for BSR, if it posts a loss - well we will see what the exposure is. So far there have been no profit warnings. TWP posted around R160m profit in 2009, which didn't reflect in BSR's income. So even if they only break even this year, and BSR only makes money on their existing business, this looks good. If they maintain or grow profit - then BSR will really fly