Based upon, NR stating they optimized Pilot Plant "Flotation" to a 92.5% concentrate

Did I miss something?

Where did ZEN say that they optimized Pilot Plant flotation to 92.5%? The news release that discussed the Pilot Plant results was September 2014 and no flotation purity number was given. It is my understanding that all subsequent metallurgical work has been performed at laboratory bench scale. In the December news release where Zenyatta mentions a "flotation concentrate of up to 92.5% graphite" (i.e. best case), Stephen Mackie is quoted, "The recent test work, ..."

No mention of any optimized Pilot Plant. And since the company has not made any claims with respect to optimizing a flotation circuit, I would not assume that they have achieved such a milestone.

In fact, the company indicated that they would announce the final results of the purification work once completed. Since they have not yet made such an announcement, I assume that the metallurgical work is still in progress.