A somewhat belated reply here but I still think JMAT is a well run and solid business. By working in markets linked to future technologies focusing on environmental issues - cleaner exhausts, fuel cells, pharma etc - it has to be a good long-term investment.
Did you also see the last trading update? Ok it was July but pretty positive stuff and I'm looking forward to good 6 month results on 26th.

I'm buying as we speak (and as the price drops!)

Nick