Ann: Juno Minerals Demerger & IPO Delayed, page-67

You can argue any which way you like -bottom line JMS is a major shareholder in a manganese mining company that has been successful -paid dividends but has never delivered in terms of its share price or the huge capital gains that companies producing iron ore like FMG and MIN have delivered for their shareholders. Now JMS has suddenly realised that profitability in iron ore is about ten times as guaranteed as manganese and it wants to join the party through a controlled entity. Get set to enjoy the ride with iron ore if you hold JMS - you can still receive your precious dividends but odds are JMS the parent company will enjoy a re rate if they grasp the nettle and expand Juno's iron ore exploration and production capability in DSO. And then watch for changes in the JMS board composition - strategic direction and growth through a powerhouse commodity like iron ore.