Tidalpool,

Your post says: "... and that recently a Sri Lankan hydrothermal producer signed a contract for $US16,000 per ton, based on somewhat lower purity then ZEN is achieving with a very simple caustic bake process, thus confirming a very high price for the ZEN's graphite."

The info above appears to come from www.graphene-info.com which says:

----------------------quote------------

"GS International to supply graphite to Norway's Graphene Batteries

• Batteries
• Graphene Oxide
• Graphite

UK's GS International (GSI) says that they have been chosen to be the graphite supplier for Norway's Graphene Batteries, a startup that develops graphene-based Li-Ion battery electrodes.

Graphene Batteries reportedly tested over 50 types of graphite before choosing GSI's graphite. GSI is offering high quality natural graphite at $16,000 per ton. GS International, together with the RS Group also aims to become a research partner to Graphene Batteries. The GS Group and GSI also plans to scale-up Graphene Oxide production soon."

----------------end quote------------

I just want to make sure that before we run off with $US 16,000/ton (note short ton, and not tonne, as per website above) according to the "signed contract" as per upor post, kindly provide the link for this contract with agreed price and amount of graphite (i.e. $US 16,000 for so many tons...and who's going to pay for transportation costs which could be of the order of thousands of dolloars, depending on the size of the containers). Without such information it would be premature for us to draw a definitive conclusion. Note that the info on the website says "have been chosen" and "GIS is offering", and nothing in there that says "contract signed" with key info included.

Is there any other link that says "contract signed". If so, please provide the link.

If they actually have a signed contract with above key info, including shipping cost (assuming $4500/20-ton container = $US 225/ton (or $US 112/ton for 40-ton container). Both shipping costs are negligible compared to $US 16,000/ton, hence for the purpose of our discussion we can ignore the shipping costs.

So, ZEN assumption for the price of its graphite is approximately half (16000/8500) of the 16,000 offered by GSI? The upcoming PEA will confirm all this, hopefully.

Cheers,

goldhunter (ZEN shareholder)