the PEA release was a flat-out dissapointment, plain and simple

we waited a calendar year for a less than stellar (to put it conservatively) PEA, and the market has treated ZEN as such.

to summarize the PEA....

resource size, down (significantly)

sales price per tonne, down

processing cost per tonne, above expecations

capex, higher than expecations (significantly)

annual production estimates, lower than expecations

how can anyone find anything positive in this release other than the fact that PEA is finally released and over with?

the problem all along is that we were not given much to work with given the vague nature with which the company constantly used in detailing its process to process its graphite (cheap, easy, non-aggressive, disticnt, etc). The question always was, how cheap? how easy?

..well apparently everyone thought it was cheaper and easier than it actually is.

with processing cost per tonne over $2k (coupled with a lower sales prices per tonne), ZEN lost a significant portion of its economically viable deposit.

call it conservative, call it ultra-conservative, call it another opportunity given to load up on cheap shares, blame RPA, blame SGS, blame whoever else you want to blame.....

the fact of the matter is this, if this PEA was released a year ago today (like it was supposed to be) it would have been labelled a dissapointment then....add a year delay to a dissapointing PEA and well, the dissapointment is multiplied.