I deem the conversion as more negative than positive.

I prefered that the debt had been paid off through income comming from mine operations (second mill ) instead of conversion into warrants and shares.
Does anyone here believe that the warrants will not be converted into shares given the amount of time provided for doing so? Dillution today or tomorrow, it is still dillution.
That is what makes the warrants so attractive and is an anvil around the neck of the current share price.