I think the Mora Companion is a sturdy little budget blade, but I wanted another carry option beyond a belt sheath. I also didn't want to just hang a line and around my neck and hang the belt sheath from that. So I ordered a spare sheath that I could modify and still have the belt option.
Step 1: Remove Belt Loop
Use what ever tools you have at your disposal to rough cut the belt loop clear of the sheath body. I left extra material to avoid over cutting that will be removed in the sanding and polishing process.
Step 2: Sand and Polish Rough Cut Edge
Remove remaining material with sand paper or in this case a belt sander. I switched to a leather strop polishing belt with polishing compound after the initial sanding.
Step 3: Position Neck Cord
Position and glue the 550 cord to allow for a secure hold and for the sheath to hang straight up and down around the neck.
Step 4: Add Leather Wrap
Test fit leather wrap to ensure proper length and overlap. Apply spray glue to both the sheath and reverse side of the leather and allow it to become tacky. Lay the leather onto the sheath and wrap it around to the back side. Apply pressure via rubber bands or twist ties or clamps and allow to dry.
Step 5: Remove Pressure and Admire!
Once the glue is dry, remove the pressure bands or clamps and check for proper hold and hang. You can then tie the neck line for adjustability or to a more permanent length. Now you're DONE!