I REALLY liked the NR today. So much info in there, it is easy to not grasp all the significance in it!

Here are some excerpts I liked:

was partially financed by a federal research grant through the National Research Council of Canada industrial research assistance program (NRC-IRAP)

The initial $350k grant by NRC in December 2013 has already been spent and this is additional funding. Safe to say the Feds are behind ZEN!

The flow properties of the mixture compare favourably with the mixture made with benchmark materials in existing use.

ZEN performed better than synthetic for flow properties, probably related to the lubricant properties of natural graphite over synthetic.

the mechanical properties of the final Zenyatta artifacts, after a sintering heat treatment, were comparable with those of the benchmark artifacts.

For Mechanical properties, ZEN performed as well as synthetic.

It is even more impressive when you consider that only 0.02 to 3.5% of the PM is graphite. The other great thing here is that because graphite is such a small part of the total PM, it is less sensitive to costs. For example, if using PM with 3.5% graphite and doubling the cost to $20k per ton would result in increased cost of $350 per ton of PM only. A very small change in price that could be acceptable if the performance deserves it.

It provides further evidence of the suitability of this unique material in many clean tech applications that we are targeting.


ZEN graphite is unique and this will be the reason we will either end up with a monster first bid for the company or a take over battle. Aubrey has been crafting this for a long time and it is all coming together!


When tested, the plate had resistivity properties comparable with a bipolar plate made using existing benchmark synthetic graphite material in use today.


ZEN again is comparable to synthetic in performance.


Li-ion battery (coin cells) tests conducted by NRC also supported previous good performance results by other labs and end-users of Albany graphite in this application.


In the NR about Li-ion batteries, ZEN had good initial test results and moved further with the next step being building coins cells. AGAIN, at this higher level of testing, ZEN performed as well as synthetic!


Since the mid-1990s, synthetic graphite is mostly used due to its higher purity, consistency and particle size. High-purity graphite of greater than 99.5 per cent Cg is preferred, with a particle size of around five microns.


So, on average, graphite used in PM is $10k per ton but this includes some natural graphite and synthetic graphite below 99.9% where ZEN is at. Because of this, I would expect ZEN to command prices higher than the average of $10k. However, that would not be in a PEA.


Presently, primary synthetic graphite is used and produced in a highly controlled graphitization process, which assures narrow specifications, consistent purity, perfect crystalline structure and well-defined texture.


The synthetic graphite produced for PMs is done under conditions that require high temperatures for prolonged periods of time and leads to expensive costs of production and is the main reason why graphite powders are so expensive. ZEN will have the ultimate advantage here of being a lower cost producer and could simply squeeze the market and take over the entire 20k tons per year if it wanted too. However, it may take over the market simply because it is a better product with a much much smaller carbon foot print.


Graphite is used because it is an excellent electrical and thermal conductor, it has outstanding lubrication properties and it is resistant to oxidation and cyclic temperature stress. It can withstand extreme temperatures while maintaining strength and shape. It is also inexpensive, lightweight, easy to machine and replace compared with other materials.


As mentioned earlier, graphite is a small part of the cost for PM and is therefore considered inexpensive. If the graphite is better and leads to a better end product, companies will pay a little more here.


ZEN delivering like they always have. Next on deck should be the PEA!


Choo Choo!


Glorieux