Hello fTN,

Since I have enough skin (perhaps more than enough) in ZEN, the intention was not to bash it, but to provide some perpectives before we rush in with unrestrained enthusiasm which could be used by others, e.g. day-traders, scammers (pump and dumpers) etc. for their own gains, and at the expense of bona fide long-term investors. There are few examples lately, including one that experienced by ZEN (a dump when a conservative resource estimate did not seem to meet the "great expectations" where some people were predicting some 100 M tonnes).

Similarly, price range of $20,000 -30,000/tonne has been promoted. I would tone this down to about $8000/tonne since this number is within reach compared to the extremes. Claiming extravagant number would invite trouble when the company results do not make great expectation.

Another point worth mentioning is the size of the deposit, hence the life of it. There is no need to have a mine life of hundreds of years (a hype, imo). I would be satisfied with a 25 years of great profit margin, since most of us would probably get out of any particular play in say about 5 years, since there are other fish in the sea.

One more thing, I forgot to mention in my previous post that impurity is also a key factor. It does not matter how big or how high the grade are, e.g. a huge deposit @ 50% graphite that could last for 300 years, it may not be (economically) feasible to have a mine if the remediation cost for the effects of the mine, especially the waste, is so horrendous. In addition, given the current sentiment, a mine that could significantly contaminate the environment (which include the people) would not have a chance in h*** to pass an EA. The regulators in this area are conservative people, and would want to protect themselves as well against any potential lawsuit.

Not pouring cold water on any particular case, just some cautions about how we promote a company while doing our DD. There is nothing wrong with the promotion of a company we have invested in, but there are limits that must be considered to avoid setting up great expections for ourselves and used by others at our expense.

In my opinion, ZEN is a good junior explorer with a promising deposit of high-quality graphite. But let's wait, at least, for the PEA before we start counting the $, in millions. Do your own DD to form your own opinion for sharing with others.

Confucious say: Start low with a better chance to soar high, and not fly too high to have a hard fall.

goldhunter