ZEN has last week indicated that the PEA will be delayed a few weeks from their last update. Is it really time to panic, the contractor holding things up SGS has indicated things are going well and ZEN has indicated that more than 20 NDAs have been signed with a number of potential customers for thier unique hydrothermal graphite which may well be the the highest quality graphite ever discovered in nature. So what has changed from a few weeks ago, well nothing good things take time and perhaps great things take a bit more time.

Due to the recent marker trades and the 75K trade on Friday speculation is abounding that Cliffs is selling. Well show us the proof of that, there is non that I can find. And even if it was true, Cliffs has its own problems including a proxy fight from an agitated shareholder. But really lets put things in perspective Cliffs owns 9% fo the company (about 5 million shares). Does it really make sense that such a large shareholder is selling in lots of 75K. No! They are more likely to sell all 5M to some other large investor. But given that their stake is worth about $US 11.5 and they have $US 364 in cash on their balance sheet, it seems unlikely that ZEN is Cliffs biggest worry, if anything some potential hidden upside that they might draw on in future, when ZEN's true value is recognized.

Lastly the only two real insiders who have Board representation are AE (CEO) and Mackie. AE has never indicated he has sold even a single share and Mackie appears to be buying. That tells me that the insiders with insider knowledge are voting with their feet and either holding tight or buying more.

In my opinion, this tempest in a teapot is just another buying opportunity and and an occasion to hold tight to something very valuable....ZEN.