money -

I agree (with so many others) that this NR doesn"t "check off all the boxes" in the fashion I wanted. I wanted to to see the PEA . I wanted the shorts and the nay-sayers to get slammed by a scientific demonstration of the value per ton of the refined graphite and by dynamics of the IRR. I didn't get what I wanted.

But, maybe I got what I needed, There has been some conjecture that the PEA release has been held up by some of the NDA participants (NDAs) who may be working their way up to the table to place some bids. Some have suggested that AE has given them a deadline to put up or shut up. All this time we get no information because of the NDA "cone of silence."

I find this portion of the NR interesting - "Further purification test work is underway to produce a potential range of purities that are required by end-users. This is based on discussions with interested end users related to strict specifications under signed confidentiality agreements. The Company plan is to develop an environmentally benign process for a high purity (benign) deposit. Given the feedback from potential strategic partners in the CleanTech sector, this is a critical consideration. Once ready, the complete process flow sheet and associated engineering data will then be fed into the PEA which is now underway by RPA Inc."

So they are demonstrating to the NDAs that the Albany graphite can be purfified to several hign-end levels (at a low cost), They even have some "feedback" from the "CleanTech sector" that ZEN's "environmentally benign process for a high purity (benign) deposit" is a CRITICAL consideration (for their bidding interest).

IMHO, we are being slyly told that several folks are very interested in bidding based on the statement about the "...potential range of purities that are required by end-users." But, these folks may be purposing lower bids than would be acceptable to the management ($5-10).

However, the development of the environmentally benign process will motive other bidders (Tesla/Panasonic?) to move up to the bidding table. These folks will take the bidding to another level ($10-$20).

Is it worth the wait to get as much shareholder value as possible? I have been in this stock for quite some time and I wanted to get my pay-out NOW. But I don't want $5/share and niether does management. I believe they are holding out for the right bidder(s) to step up. If that makes me a dreamer and a fool, I'm not the only one..

This one is much like the history of DF. This history doesn't repeat but it does rhyme.

- panamax