Hi I am not obsessed with the price going upwards. JMS is...

Hi

I am not obsessed with the price going upwards. JMS is essentially a Manganese ETF. Nil debt and plenty of cash on hand, as well as generating a heap of cash.

In terms of the recent investor presentation you can say moving forwards under the assumption Managanese does not tank, the yield is 12% (just have to wait on what the tax setup is however)

Fundamentally, despite some risk, this does not justify a 35c share price in my opinion and its just a matter of time to where I think the SP will eventually adjust itsself upwards to the 50c range, which is still an exceptional yield.

In terms of growth well at this point in time there isn’t any. However I would be staggered to think that they are going to stay a one trick pony forever. And to be honest despite the motive of the institutional investors investing in this, they at some point in my opinion will want to see growth out of this as well. And if that does not happen in time then the shareholders will vote with their feet and get someone in that will. Mr Prinyak has the crusiest job in Australia at the moment and is getting paid a shit load for it.

It makes no sense at all to have a world class asset like this, make a fortune off it and not grow the company. I think in 2,3 maybe even 4 years time we will see a strategy change and JMS won’t be a one-trick pony anymore. And in my opinion this is what the instos are getting set for.

Investing in a resource company for income is unreliable. Particulary when it is only coming from one source (manganese) I think you will see JMS turn into something similiar like S32.