My scenario for ZEN is as follows:

1) Shocking PEA with a NPV north of $2 billion

2) Offtake agreement with a large end user (best case Panasonic/Tesla)

3) Pricing $US15,000/tonne

4) Initial order 20,000 tonnes/yr starting in 2017 with full order 2018

5) Bidding war commencing at or above $US 1.5 billion

6) Translation the bidding starts at $C 27/share.

Hows that for Happy?