7bn shares with market cap $700M, debt 40% of MC, paying...

7bn shares with market cap $700M, debt 40% of MC, paying dividends @ say .8c/share and huge blue sky - is far better than 4bn shares with with huge blue sky but MC of $400M and debt 175% of MC, paying no dividends.

Reason - removing the MtK debt and the overhang of possible bond conversion and what happens in 2020 when bonds need to be repaid, hugely de-risks the company. SP could value at 20x earnings or more - with further big SP gains as earnings improve.

ATM, not only do we have MtK effectively capping the SP while they offload warrants, what happens when their bond term expires? Do they extort more cheap warrants as the price of extending their facility? With the warrant selling capping the SP, debt at 175% MC and the risk overhang of what MtK may do in the future, no wonder LYC is on the nose with Institutions.

So, what is the plan to deal with MtK? (assuming they are independent of JARE - which I don't think can necessarily be assumed). For SHs here for another 3 yrs +, able to invest more, the best result would be if the SP stays low enough so MtK doesn't convert, pay out JARE over the next 3 years and then do a capital raise through a rights issue whilst the SP remains very much undervalued.

Alternatively, with enough stable and profitable trading quarters under the belt, some time in the next 3 years, borrow from the capital markets to pay out the balance of JARE, rights issue to pay out MtK and share consolidation for good measure. Watch the SP skyrocket then!!