TP -

Your post got me thinking about off-take agreements OTA). Does acceptance of an off-take agreement mean that the ZEN commits to selling their product (graphite) to the vendor for a set price? Or is it just a bid for the product - with no committment to sell?

If the former, how can ZEN commit to sell the product when they don't plan to build the mine to produce the product? If it is the latter, then an OTA establishes a bid (value) for the product (good for share valuation).

Furthermore, if it is the former, that may be the reason for the seeming delay. ZEN has to then sell the whole resource to just one entity. That entity has to examine a sample and determine two things - does the product meet their needs and how much it is worth to own it.

There appear to two ways for this sale to go:

Either to a miner who will build the mine and sell the product or to a vendor who wants the whole product (Mitsu, Connoco Phillips, Tesl, etc.) and they will figure out how to produce the end product.

Either one works for me (at (at 10% of in suti value).

- panamax