The PEA was conservative based on different market segmentations and average prices. What do you think would happen if Zenyatta decides to change the market segmentation on lets say LIB only - if an end user wants the deposit for the ultra-high purity LIB market? Average price $12000 per/ton $US. This clue was right in the release. This would catch the market off guard for sure. see below.

The Company is in discussion with end-users on other types of high purity applications that could possibly change the market segmentation and will disclose these potential markets at the appropriate time.

Zenyatta has previously reported that preliminary testing has indicated that the performance of Albany graphite is within the range of anode materials that are presently used for Lithium-ion Batteries (‘LIBs’). Independent testing has also indicated that it is suitable for use in hydrogen fuel cells and in powder metallurgy (‘PM’) applications. At this time Zenyatta anticipates having a targeted market application segmentation which includes 25-30% in LIBs, 20-25% for Fuel Cell products, 25-30% for high purity graphite in PM and 15-30% from other applications in the list above. The Company is in discussion with end-users on other types of high purity applications that could possibly change the market segmentation and will disclose these potential markets at the appropriate time.