I am sure many are hoping for a buyout (i'm included), sooner rather than later. Samples to end-users went out in Aug/Sept. Testing, tweaking, validating, etc...takes time. Say 2-3 months. Is there demand? If so, maybe we'll expect a confirmation letter from an end-user?

Does a miner want to make a strategic investment? If yes, they need to know there is end-user demand. If that checks one of their boxes...next is if the PEA and their own DD show that the deposit is economical. If yes, they may require Board approval. All of this takes time.

A buyout offer of $1B+ will probably take a bit more time, but if ZEN can show demand and support, the probability is much higher.