It would be a proposition, in my view, to arrange finance through new borrowings to repay debt and pay out Mt K one way or another. This time they wouldn't have to go to a lender of last resort as they had to do to save the company. Last time they were struggling to survive and the business case was really a basket case. Now they can show a company with a viable business. It would be better to have some debt rather than further share dilution.
A share buy back would be better financed from profits. Profits which are starting to be generated. Of course retiree investors would also like to finally receive a dividend.
LYC Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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