Since many are throwing their thoughts on this subject, I have a few thoughts.

First and most important is that the management team including Aubrey Eveleigh control enough shares to stop any take over. This is a key point that I love because it stops a predatory or hostile offer dead in it's tracts!

So any take over offer has to come with the blessing of the BoD and be a friendly deal. Now, the market may be irrational and not price ZEN according to the IRR and NPV that we expect but trust me, this BoD knows exactly what ZEN is worth. I am sure the IRR and NPV are already known to a few of them at this point and I do strongly believe that Mark's numbers are right in the ballpark: IRR near 100% and NPV at $2B+.

I have been calling for $20 for a long time and see not reason to change that number. If the value per ton of graphite is quoted higher than $10k per ton, I would expect $20 to be the rock bottom price with a good chance for a higher number.

We are very near to game changing news for ZEN and wether we get a buyout offer or not in the very near term, I do expect a significant reprice of the share price.

Glorieux