No position in ZEN and I never short TSXV exploration plays.

I need more information before I would buy. IMO, the most important data points are the final purity after caustic bake, the recoveries, the particle size distribution and confirmation of the graphite concentration after flotation. Ideally, it is higher than the 92.5% reported in December.

Although Albany is a large deposit, the graphite grade is less than 4%.

If overall recovery is 90%, then the effective grade is close to 3.5%, not very good.

However, if ZEN can inexpensively produce 99.9+ graphite, that should more than compensate for the low grade.

In a Wait and See Mode