Too many here have a mind set from the distant past when AE talked about ZEN being sold and they would not be around for the next PDAC meetings. I accept all that you are saying SUM and I know it happens too often. Most of the time these companies are in a bad financial situation and the markets leave them no options. I have even owned a few of them.

This should not happen to ZEN. Any suitor is going to sit down and talk a deal with ZEN. It is very unlikely to happen until the PEA is known, and that means released to the public. If that suitor and ZEN cannot agree on price, then two things are possible. The offer can become a hostlile bid and the shareholders decide what they do. AE and the board would certainly not recommend that shareholders accept the offer. The shareholders would decide to sell or hold. There are a couple of end results from this path. I doubt this would happen, but who knows.

I expect a serious suitor to deal with AE and the board and work out an acceptable price. Then usually there is a penalty worked out that ZEN would pay if someone came with a better offer and ZEN wanted to go down that path. AE and the BOD would recommend shareholders accept the offer. A shareholder still has the right not to sell but that brings other considerations into play. IF there were to be a suitor, I expect this to happen.

I am not so sure there will be a suitor. This is because of market conditions. The mining scene is in a very bad state and there may not be any company wanting to take the financial risk. Sure there are a number of companies we think are in a position with cash to do a deal. But the market conditions have almost everyone petrified with fear. Their cash is their security blanket and I doubt ZEN will see any of it.

For this reason, I think the best deal AE and the BOD will see is an offer for a partnership. Company XYZ will put up cash to see the project into production and will accept a percentage of ZEN in the deal. This will immedialtly put a price on ZEN and we'll be off to the races. I'm not about to speculate on what the share price would be. The market place will decide on that and each shareholder can decide what price makes them happy.

Have any of you ever seen an offer to take out a company for $x, only to watch the market trade at a higher than offer price? Why? Sometimes when the market wakes up to value, it realizes the offer is not enough. So it is not only other companies that might compete with the first offer.

All this and we still have something else to consider. What are the present day plans for ZEN that AE and the BOD have for our company? Forget what has been said ages ago. What matters most is today's thinking. Since the distance past remarks AE has put together a very impressive group that is very capable of taking ZEN into production. Maybe those are the tea leaves we should be reading? Perhaps he has been showing us all along what path he is treading? One day, soon I hope, we might all be wondering how we could have missed it.

I have to admit I am biased in my thinking. I have always wanted ZEN to keep the company and go to production. It is simply the cash flow and dividends. As we work towards this end, the share price will appreciate and make those who hold happy.

What are you thinking, Mr. Everleigh?