I have had this speaker for some years. It is out of an old organ extension cab a friend gave me a long time ago. It is a Jensen P12PS, with a whizzer cone. I have a Silvertone 1482 that I refurbished and modded, but it needed a better speaker than the one that it came with. I pulled the Jensen out and installed it in the 1482, and sounded good except for a bad fuzzy buzz. I pulled it out and examination revealed it was deteriorating badly. I will eventually get it reconed but I have budgeted my money for another project for now so having nothing to lose, I attempted a repair.
I have marked with a sharpie on the gasket where the damage is. It is torn all the way around, and as you can see a couple of spots are really bad, a gaping hole and a severe rip.
Yup, torn pretty bad.
Ok, Here goes. I painted on a layer of contact cement, then layed the tissue paper over it, then painted another layer of contact cement. I doubled up on the two bad spots. I also painted a layer of cc over the whole surround, to protect it from future damage. I let this set up for a day, peeled off the excess, and applied another layer using the same technique.
I also applied a couple of patches to the bad spots underneath. This was a little tricky.
Another day to set up, then remove the excess TP.
I then applied more cc to paste down the ragged edges where the excess was torn.
I masked off the gasket to preserve its integrity when I painted the cone.
And here it is after a light coat of paint. Total cost: 6 sheets of toilet paper (Scott tissue recommended), 1 bottle of contact cement, and 4 or 5 squirts of flat black paint.

How does it sound? GOOD!! I was worried that the tone would be muffled and darkened, because this amp is pretty dark anyway. Instead it was loud and fairly sharp. I really didn't have an idea of what it sounded like before, because it wasn't used due to the rips, but I am very pleased with how it turned out. Plus, I got a good buzz from the contact cement fumes :-).
 I am very happy with the results, and if you have a speaker with similar damage would recommend this process to anyone.

Here is a brief clip I did. Amp set half way, Strat neck pickup then neck pickup with SD-1, then bridge pickup with SD-1:

Silvertone 1482 with Jensen P12PS

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