Hi Rennie69,

I am not sure that I agree that a potential bidder doesnt require a PEA or at least information contained in a PEA. We all agree that Albany is one of a kind, never been seen before. Zenyatta is still refining the process for extracting and upgrading the graphite to 99%+ purity. We have no idea what those costs numbers are, we can speculate and there has been a fairly wide range put forth here recently. However, I do not expect any firm to slap down a cheque for hundreds of millions if not billions without knowing exactly how much it costs to have the material extracted and upgraded to the desired purity levels as well as knowing exactly what it will sell for. Testing is only now beginning to determine who will pay what and for how many tons.

Something like Zenyatta has never been seen before in the graphite space. Any significant committment for something like this will require significant due dilligence IMO. No miner or company has ever worked with hydrothermal graphite that can be upgraded to 99.95%+ with synthetic like characteristics. If it were me, I would need significant proof that its even possible. You are asking an acquirer to believe that material that currently costs $15k+ per ton is now available in natural form for 1, 2, or 3k per ton to produce?

AE has already stated publicly they are in preliminary discussions with many different entities. I am sure this would include potential aqcuirers. If it was me controlling the purse strings, I would need to be 100% sure that a) the material works for my application (hence testing), b) it is economic to extract and process (PEA) c) if selling to third parties that I had some form of committment from end users.

This isnt like gold where it is fairly easy to estimate costs and you know what the market that you are selling to is willing to pay at any given time.

Yes we have a freak of nature, yes is appears to be some of the best graphite on the planet but IMO opinion, I think that the PEA for Zenyatta is one of the most critical pieces of information this company will ever have produced. It will unlock the value proposition for investors and possible suitors.........this I am willing to bet, will NOT be a sell the news event, I actually believe it will be quite the opposite.

Regards,

Quincey