Well, no one was at the meeting to see the director options...

Well, no one was at the meeting to see the director options resolutions carried - that’s for sure!!

Noticeably, OZPB asked no questions before grabbing a biscuit and heading out the door as soon as the meeting was over - but the most instructive comments were made after that.

In no particular order, here are the key observations:

1. Andrew Frazer representing Somers & Partners was there and held the floor briefly during which time he did his best to try and convince us that he was not on both sides of the lithium deal. He didn’t hang around after the meeting though to share his “wisdom” with shareholders.

2. The lithium deal is non-negotiable. Its $30 million at 8.5c per share or nothing.

3. TON was approached with the lithium deal.

4. Another party has apparently offered $30 million for the lithium interests.

5. The directors are not second guessing the market – bots notwithstanding – when it puts a value of $80 million on TON.

6. Most major shareholders are seemingly in favour of the deal; lack of detail notwithstanding.

7. Blackrock are in favour of the deal – of course, why wouldn’t they be – but its "far too early" for them to be making any commitment as to ongoing support - "Thanks for the shares but we're not going to help you"

8. When I pressed Michael Ji on how Minjar viewed the dilution of their 21% holding that would result from the lithium deal and on whether the whole board had agreed to the option, he was polite, offered no comment and promptly headed out the door.

9. If the DD does not stack up then the deal will not proceed.

10. The first batch of data for DD was received today.