For anyone getting missing texture when using .j3m files even if the texture exists, make sure that the path and the name of the textures do not contain any spaces.
Out of interest, does escaping some quotation marks in the path work? e.g. ““path with spaces.etc”” work? seems like it should.
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I’ll test it now
ok, it works 
this means that there is a bug in JMB
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Well I don’t know about that. I think it’s just some kind of path literal thing.