Well lets see Northern Graphite is trading at just under 18% of its latest NPV (8% discounted) in its updated PEA released June 24th.

I would be pretty happy if ZEN traded at that level immediately upon the release of its PEA without an offtake or a takeover offer (because Norhern has neither).

Some knowledgeable posters have estimated that ZEN's PEA could provide a NPV (8% discounted) of as much as $2.5 Billion (with a 20 year mine life). That would provide an immediate price jump to over $7 per share (not to mention the US$ premium).

http://agoracom.com/ir/Zenyatta/forums/discussion/topics/615092-zenyatta-dcf-model/messages/1928055#message

Terrified of metallurgy, really, its strong stuff but, it can always be tamed in the end, nothing to be afraid of...its only graphite, even if it is unique hydrothemal.