is this correct, page-9

Snicket,

This is my guess why LSG Coal has been reducing their holding in JMS. In a nutshell, it's because of POSCO buying in.

Before POSCO bought in, LSG were the third largest shareholder to Red Rock 25.2% and Pallinghurt 25.1%. Then POSCO moved in with 13% of JMS. This not only moved LSG to number four, but also diluted LSG's holding in JMS. In addition to this, POSCO owns a piece of Pallinghurst. POSCO is the fourth largest steel producer in the world and now have someone on JMS's board.

POSCO, Pallinghurst and Red Rock own 63.3% of JMS. This now leaves LSG Coal with very little influence in JMS. I think that POSCO and Pallinghurst will become the two key players in JMS.

As we have seen, the SP has dropped in the last few days. I believe this is solely due to LSG selling. The initial Manganese rock chip samples are a good grade and low impurity and the Hematite, although small, is high grade and low impurity.

So what do you think the chances are of POSCO increasing their holding in JMS? I've been buying some of LSG's Jupiter shares and I will consider buying more if they stay below $0.20.