TP, you are right that Capex has been accounted for in the NPV and even with that over inflated Capex, ZEN still shines against all other graphite plays in Canada and around the world save Syrah. It is funny to see the usual bashers try and poke holes in the PEA which was done very conservative and still showed a very healthy margin. The fact that RPA did it with their stellar reputation means they will have credibility with any serious partners.

Chief loves to bring up the fact that I said $30k per ton but notice he never actually posts what I wrote. I did write $30k but that was as the top end of fuel cell market. My number there was wrong but the PEA did show some markets go up to $40k per ton so I was still conservative lol!

Syrah, in their PFS said they would sell flake graphite equivalent to 40% of worldwide consumption. Hard to believe they could capture that high % of the market but that is what they are basing their numbers on. ZEN and RPA are being extremely conservative by saying we will only capture 7% of the market when we have a huge cost advantage, a green advantage and most likely a performance advantage. ZEN and RPA here only needed to show this project was economical at the PEA level and they have done that in spades. So onwards we go!

This has been a long road for all of us longs but with the PEA done, I have a feeling things are about to snowball in our favour. We saw some instos start accumulating last week and I have a feeling that was just the beginning. Anonymous was the biggest buyer last week. Wonder who they were accumulating for. Will be interesting to see who are the biggest buyers in the next few weeks/months.

G.