Ann: Offtake Term Sheet Signed with Haida Graphite, page-12

Unfortunately TON is currently trading at around 8.5c, which allows management, Somers, WGX and the soon to be/already retained expert to say that the WGX terms perfectly value TON shares and so the deal should go ahead.

Were the WGX deal to be rejected or management were discussing rejecting the deal, then the SP would shoot upwards. As the SP has not moved upwards but has come down approximately 25% since the WGX option was announced, it is clear the deal is going ahead regardless of it not being in the interest of shareholders generally.