RE:RE:RE:RE:Why no progress?I have read all of the NR's, and the PEA.
What I know is that ZEN has a small deposit of graphite buried 40 metres under a swamp in Northern Ontario.
The estimated cost to develop the mine is way higher than any other graphite mine in the world.
The estimated cost to mine the graphite makes it the highest cost graphite in the world
The head grade is poor, well below the grades normally used by other miners as cut-off grades
The proposed purification consists of grinding to a very fine size (making it useless for sale to most of the graphite market), with multiple stages of flotation and low yields. This is followed by caustic bake and acid leach - methods which would acheive similar purity levels with almost any graphite deposit in the world.
What I don't see in any NR is proof that ZEN's graphite has any value that cannot be created by similarly processing graphite from other, less costly sources.
Management has told us that the ZEN graphite is "unique" and, according to the PEA, has a value of four to five times the market value of other graphites. You can believe it if you want. Myself, I would want some real proof before I put money on it.