This makes complete sense to me. If the commodity is not easy to value such as oil, gold, silver, nickel, copper etc then it is by definition hard to value. Couple that with the falling commodity prices in general, and I would say it is very hard for anyone who has not done a great deal of DD to feel comfortable in graphite stocks. ZEN is likely even more difficult for people to wrap their head around due to the unique nature of the deposit and the fact that no one has ever discovered one in quite this form before. However to the initiated there are some big clues: 1) Cost of synthetic and Sri Lankian Vein; 2) rising usage of high quality graphite in all the devices (cell phones, computers etc) we love and the electric cars we may grow to love. Mix in PBN reactors and the other standard high grade uses and you have the makings of a great story. Unfortunately for the SP at the moment all that is a lot for the average investor and likely way too much for most.

Nonetheless I feel as do many others that we have not even scratched the surface in trying to value ZEN and it is going to surprise a lot of people. That is always the way with something innnovative or new.