reality check, page-4

Pmunt

I will sell my shares to anybody for 8c per share any takers?

I can trundle out any valuation from a number of experts - I seem to remember BHP offering 3.4 BHP shares for 1 Rio share. They are experts and got it wrong - They are in the industry and got it wrong.

I think my shares are worth 10c but no-one will pay that today and the market may be wrong but it has been wrong now for some time.

The market suggests there are many issues and uncertainties surrounding JPR - Hence all the HC chatter. In this instance the market is correct and add to this a few badly thought out announcements and trading halt. Now add the suggestion that they have not got all the $6.5m and the $24m is not going to arrive. Its a fair call to be at a lower value than we like. If they had to raise $24m at 3c vs the oppies at 8c thats 2.5 times the number of shares to issue and hence a major dilution.

I think that JPR holders who want the talk to only be about how under valued this is have to accept that in fact there are significant issues to be resolved before a lot of uncertainty is resolved and that at the point of the trading halt we expected it to be resolved on the Monday and here we sit some weeks alter and we are more in the dark than then.

I think HC posters at times hate to hear both sides of the argument as well.

By the way I am invested in JPR because I believe it will turn out in favour of shareholders but must also accept that the risk is higher than at the time of the trading halt.