1 for 2.6, page-19

It's going to take until end of May for all i's to be dotted and t's crossed and new shares listed on ASX, so JLP share price now is academic anyway. Three months to sell the story and plans should be plenty of time.

The real rub will come in getting Smokey Hills going and profitable. JLP certainly seem far more competent. If they successfully pull this off, new JLP will be on way to hundreds of $m in market cap.