"Why would we not see the PEA. Only insiders would know enough to make a move and they are under NDAs with all of the restrictions thereof. There would also be no reason for ZEN to hold it back even with an attempted take over. It would just increase the potential suitors no? Unless of course you subscribe to the BOD not being on the up and up."

A company could make a bid for the deposit that could be too good to turn down and one of their stipulations may be not to release the PEA. But you make a good point, why wouldn't they release the PEA as it would increase the number of suitors. It depends on the offer in my opinion.