While I fantasize about a $5B NPV and the high prices presented by some here, I remind myself that the PEA is a conservative document prepared with a very rigorous process by RPA who have a reputation to upkeep with regulators.

I am sticking to my original $2B NPV and even that could be too high for the PEA. What we need the PEA to do is prove that the metallurgical process to get 99.95% graphite is possible and highly economical. If the PEA can show we can produce this high purity product for $2000 or less, we are in the driver's seat as we will be the first company in the world to do this.

The blended selling price on the PEA will be the results of market studies with a penchant to be conservative. However, the uniqueness of our product will very likely lead to a competition among end users and this will lead to prices much higher than can be included in the PEA. For that reason, I am not too concerned about the selling price in the PEA. It is the production costs and the Capex that I am most excited to see. From where the posts have been going here, I think many are setting themselves up to be disappointed in the PEA.

Sorry to be a downer here but I think too many have rose colored glasses and I should know, I have had them on many many times.

Still ZEN is set to create many millionaires but patience will be required even after the PEA.

Glorieux