RE: Volume is anemic I dont know why I keep repeating the same thing, lets break it down further.
I will only take what I can remember as far as ownership goes, if this has changed, you can change the math yourself, I believe ZEN still only has earned 25% if I recall Cliff Owns the rest.
What does not help is A) ZEN's stake B) No clue of hard evidence on the deposit size itself of raw graphite
As it stands Zen would only be able to sell the graphite for $3K in fair value per tonne.
Lets say Zen has only 5000 Tonnes of raw graphite in the ground and only able to sell it for $3K that's $15M now let's cut 25% of what ZEN only owns, which leaves us with only $3.75M minus overall cost cheap or not. This only gives us a small value of what the company is worth for materials that are potential. When we take NGC, if I recall they are only able to pull 2100 tonnes but at higher purity.
Now let's say that ZEN comes in with a metallurgical result of %99.9 they can attempt to get $30K a pop which would gives us an overall value of, $150,000,000 - 25% = $37.5M minus costs.
I believe if I recall ZEN's outstanding shares is 39M now only if they could prove at least 5000 Tonnes in the ground and can pull %99.9 would they be sitting at $1 no problem.
Now if they suddenly owned 80% or 100% of the stake, then we can see this rocket over $2.
We are left only with speculation unfortunately and the market is only basing themselves on what other graphite plays have pulled out of the ground so far. Once we get an array of news that confirms just a few little major details we need, you will see this stock jump, I have faith in it...