"I would not worry at all about a hostile takeover. How can someone make a bid based on the public data? You would not know the costs (sure you could guess but the process is unique) and more importantly you would have no solid information on psooible selling prices. You would have to have an NDA at this point to get that information."

Exactly.

The only people on earth who have any ideas of the contents of the PEA are the NDA holders of Zen.I hardly believe that they'll have the same patience like us long suffering retail investors who had been let sitting in the dark for eternity.I will not be surprised that they were fed with bits of news in a timely manner so that they did not lose interest.

AE had said that everything is on the table now.I believe him because every word he uttered in the past were carefully measured even though the timing might have been off.But that was beyond his control when third parties were involved.In another scenario,Can AE say no when most or all of the 25 NDA holders demanded specific tests to fit into their expectations?Absolutely not or they may think that the Albany graphite could not stand up to muster.i should think that everytime they passed another test as requested,the price of the product goes up another notch.One can guess that by now some companies may want to close the deal sooner than later before this hydrophermal wonder runs out of the gate like Zenyatta the horse and never looked back.

So,is there a possible bidding war going on behind the scene right now?Why not.Just an educated guess.