Diatribe. There is nothing other than common sense on their part...

Diatribe. There is nothing other than common sense on their part for a consolidation and CR to be conducted. Many companies do it and if done at the "wrong time" shareholders usually pay a very high price.
LNY don't seem to go for basic CR's involving their retail shareholders and "usually" involve S.I. clients of long standing, probably clients of Bizzell Capital. But, they don't even tell us that!!!
There really is no need for either in the foreseeable future, certainly not before they start their own cash flow.
Continual dilution of capital and debt financing is a lousy way to run a "good" company. LNY has done that since they converted from Renison and "old" shareholders have had their equity and their investment decimated. They really had no choice, other than calling in an administrator then, but, just getting that ML really should be their ONLY object at the moment.
The FACT that it has taken this long, with the TOs having been long time "friends" and not having raised any objection to the mining of Agate Creek, just makes this delay even more incomprehensible.
THAT'S why even the most basic update would placate very many who have become extremely frustrated and risking selling at substantial losses. That "should" not be allowed to be happening by management. They could put that to an end very easily, but, their interpretation of the word "material" (hopefully) seems to be the main obstacle.