Ann: Juno Minerals Demerger & IPO Delayed, page-66

apologies, perhaps my comments were a little strong. Your insights into the history have been interesting to read. As a pure income play the stock has played out as stated by management and whilst other high dividend paying stocks have reduced their payouts since the pandemic, JMS has continued to pay on its promises.

you have to appreciate that the majority of investors view it as an income play, perhaps some are reliant on that steady income stream for their living costs. In that case why risk the flow of free cash into other heavy assets that essentially jeopardize the company’s business model?

Income plays are by their nature less risky that growth. You come across as smart enough to realize that management are happy to stick to their business model and payout as promised.

The demerger is another example of management wanting to release SH value. I could confidently predict that if management suddenly announced that they would withhold dividend income to explore further assets a lot of SH would jump ship. I would sell up for sure as I am here for 1 reason only.

Defo a case of each to their own.