Ann: WGX: Westgold Lithium Option Deal with Triton Minerals, page-272

Hi @ddwn

“14/ Nothing finalized (positive)

This is just an option at present for which we are paying $10,000 Nothing has happened. TON still has to do their due diligence within the next 2 months. TON still has to get shareholder approval. Note that Minjar / Shandong would be substantially diluting themselves if we go ahead with this. There have been many thoughts expressed before that Shandong would like to eventually takeover TON and I believed it too but if they are willing to dilute themselves here, there must be a good reason. Also as TON mentioned, they will be having a meeting and giving an explanatory memo in time to come. I’m assuming this meeting is in addition to next month’s meeting already fixed.”

Above, I’ve copied and pasted point 14 of my comment few days back as it is very relevant to your question.

So yeah TON has still said they are they are to do due diligence, have meeting, detailed explanatory memo, etc. Maybe, there will also be some good logic to this, although at present based on current info, any of that is hard to see.

So to answer your specific question, IMO, TON might be able to withdraw from this option quickly as at present it seems like just an option for which we have paid / going to pay $10,000. If paid or made an agreement to pay, I think that $10,000 might be lost. But as you mentioned, there are other considerations like whether we have been forced down this path in some way still not clearly visible.

As you rightly mentioned, major shareholders like Shandong, top 20’s like @merlin , Wolves, etc. and many others might have to vote NO. Hopefully, many will vote NO, as they themselves are being substantially diluted and could eventually lose control of the company altogether to a whole new set of investors as @jackarooz mentioned.

Other individual retail investor’s votes of “NO” might not be that relevant but collectively it might make a difference. We might have to research and see whether a simple majority of 51% is needed on TON's part to pass such dilution or they need more.