But objectively what has this super expensive JMS management...

But objectively what has this super expensive JMS management brought us other than divs?? Tshipi seems to run well which according to Mouzel shouldn’t be that hard. I’d put my money on consolidation but there’s hardly any. For all the money management gets paid there’s still only a minority (!) stake in Tshipi, no consolidation, not within Tshipi nor within the SA/Mn industry, no listing is SA and now they seem to c%%k up a possible IO strategy. No wonder the pension fund is upset. It seems Posco wants out asap. Mende to the rescue?

Yes agreed. Tshipi is all contracted out so although management is trying to do the right thing for us shareholders, nothing yet has materialized.
It will be interesting to see what the year brings with regards to Juno IPO and Tshipi tonnage output.