According to this post on SI:

http://www.siliconinvestor.com/readmsg.aspx?msgid=30064760

Here was my response to that post:

Great to hear Skynyrd! Time to really put some numbers to this thing and get the institutions salivating. Projects like ZEN are very rare and we could see this move hard right off the bell as the buying leading into the PEA here has been very impressive to say the least. Seems some institutions are not waiting for the PEA as it is pretty clear where ZEN is heading.

There are 3 things to watch for in the PEA IMO:

NPV
IRR
Cost to produce

The NPV will give us a target price-Should do 30% of NPV within 3 months
The IRR will set us apart from other mining projects and get analysts salivating
The cost to produce will be the ultimate de risking of the project now that the flow sheet is done

Here is a business case I like: Cost to produce comes in at $2000 USD. Cost to buy us out $35 USD per share or $2B or $1500 USD per ton. Add Capex of $200M and time value of money and round that up to $5000 USD per ton for a company like Tesla/Panasonic/Samsung etc to be able to replace their current graphite which they are paying $15,000 to $20,000 USD. With demand soaring in the next few years, everyone knows the price for ulta high purity graphite can only go up from the current levels.

This is a game changer for the company that buys us out and why we are most likely to get a bidding war. The cost to produce is what these companies will be looking at and so will I!

Bring on the PEA!

Glorieux