We had a good week in ZEN, a nice way to finish the month of June! We hit $3.12 before coming down and closing at $2.96. This was the first week we did not trade with the artificial cap from warrant related selling. This top at the $2 range for months made many of us question ourselves and ZEN about how special it really was. We have had many big numbers thrown around including my $55 figure. Some targets were higher, others were lower but because we seemed stuck at $2, many of us thought we must be missing something.

The truth was we were not! Only warrant related selling and lack of news kept the share price around $2. Now we still have not had any big news, only the treasury update that we are fully cashed up. Actually, this is very big news that most juniors would love to brag about...however, it was not really news as the warrants were so much in the money, we all new this was a fait accompli way before the NR came out. In this regard, it had no material effect on our share price.

I believe we are still sitting on the next Aurelian and that this week was only a very small taste of what is to come. When this monster starts to really move, which I believe it will, this thing will leave many scratching their heads in wonder. We have had the benefit of researching this company for months, some for over a year. We know that we most likely have over 100Mt of ore grading around 5% and that this purifies to 99.99%, a level of purity no natural graphite on earth has been able to attain without spending huge amount of dollars. Our process has been proven to be very cheap, without a PEA the company cannot say how cheap but the whisper number is under $500.

So we can produce the best, most pure graphite in the world, we are looking at a mine life of over 50 years and we are doing this in Ontario near great infrastructure, with a tight share structure, great management and over $10M in the treasury.

The worse thing that some will do here is sell early!! The market has not been kind to many of us in the last few years and market psychology wants us to sell and lock in profits. This may be right for some and everyone has to look at their own situations and I have been accused of looking at the stock market thru rose colored glasses so readers beware here...However, I do think this is an Aurelian type situations and sitting on ones hands over the next few months, as hard as it will be, will be the best investment decisions you will ever make. These monster plays come around so rarely and we have been gifted a chance to buy early, it would be such a shame to sell early and be on the sidelines as it sets new all time highs after all time highs.

In terms of targets for our share price it is so hard to tell right now. Alot higher that $3 is a safe bet. If the west pipe shows the consistency of the east pipe with similar grades and hole 14 extention shows similar grade as it should since this is all most likely from the same hydrothermal event, then our tonnage will easily be over 100Mt. With this kind of tonnage, every mining major will be knocking on our door.

The other variable is value for our graphite. At $2000, we would still be a very profitable mine and that factor gives me the reassurance to hold the big position I do as the downside risk is very limited in the medium/long term. However, we have all read and heard that synthetic graphite sells for $7k to $20k per ton. The nuclear graphite sells for $35k per ton. These kinds of numbers plugged into revenue models with the tonnage we have yield numbers so big that most just do not believe them. However, when we look at every assumption, cut the original conservative number in half, than in half again, we still end up with numbers most just cannot believe. The market has given us a Black Swan. It is up to everyone of us to decide wether this is the real deal or not. The market is just starting to get it...How will you play this monster? My suggestion is to think now about your exit strategy. This way, you will not get caught up in the emotions of the stock market and make a decision that you would regret.

Happy Canada Day to all my fellow Canadians!

Glorieux