Ann: Notice of EGM April 6th Placement of $50m, page-12

re: Ann: Notice of EGM April 6th Placement... ASF - you make several valid points, especially in relation to Directors buying shares prior to the placement. I was always suspicious of the pattern of buying, and the strength of it. It now seems the purpose may have been to push the price to 80+c and then seek the substantial placement, which was indeed very successful. However, having received their windfall (needed for production development), they now have no need to keep the SP high and have disappeared from the market. Slowly the market itself is waking up to the fact that JMS is a cashed-up bargain with loads of substance and potential. Slowly it will crawl back up, but as cash flows are still some 12 months or more away, many will delay putting in their precious cash until that happens. I'll keep holding!