jysk,

You asked: "what do you mean : As it turned out, as you have indicated, the e-mail did not really contain any earth shattering information."

I only echoed Packfan's statement in his post: "Its wasnt earth shttering information ....". Please check his post.

Also, to avoid any misunderstanding I have no problem with Packfan with his posts. It was good that he wanted to share the information with us. It was the subsequent requests for information by pm's that created an enormous amount of traffic that clogged up the system along with the confusion.

It's up to the individual to interpret the results as presented in the NR (Sandra is not authorized to release any new or priviledged information anyway). The numbers are all in there. However, we would have to wait for the final version of the PEA to be filed to be sure if the final version would contain any modifications.

In my opinion, the preliminary results as outlined in the NR appears to be on the conservative side (may be too conservative?), e.g. the 7% penetrating rate, a lot less than the indicated resources (usually inferred is not considered), and high CapEx. May be there are reasons for the choices, but leaving them without adequate explanations would allow opportunities for speculations.

The CapEx value seems high (too high value for contigencies?). I am not a mining engineer, but since the deposit are vertical and are open at depth, perhaps it would be worth while considering an underground operation with a common production shaft located in the middle of the two deposits? An UG operation would significantly cut down the amount of overburden and waste rock. It can also by-pass the (10-60m) barren sill which seems to limit the current depth of the pit to 200-300m. Sometimes a UG operation is more advantageous in various aspects, including environmental review (smaller footprint, and it could be cheaper in the long run).

So, we now have a baseline to move forward from the PEA. What ZEN would need is an off-take agreement, or an investment from a strategic partner.

goldhunter (ZEN long)