RE:RE:Zen Opinion I also followed this company since it was called Zenyatta Ventures Ltd 2009. My focus has been in two areas 1. mining and 2. Biotech since I did service both categories in tecchnical services. All that time and no mine and I do know others working in the area and just how long it takes to get permits. In fact ZEN are so far not even close to getting an Environmental Assessment EIS that would take another ten years for approval not to leave out memorandum of understandings with native groups for an open pit mine. My opinion is the For Sale sign is coming. What they have transitioned to is great for shareholders. A Tech/Science based company with great potential and good upside over time.
Here is some good reading draw your own conclusions this is just my take on it basedd on what the company is putting in writing.
Additionally, given the novel business of the company and the company's change of classification on the TSX Venture Exchange in October, 2021, from a mining issuer to an industrial, technology or life science issuer, the company performed an impairment analysis to determine the suitability of carrying the Albany graphite project on its balance sheet.
- The recoverable amount and carrying value of the company's exploration and evaluation assets, which were determined to be negligible, now that the company has completed its change of business;
- An immaterial dollar figure capitalized to the company's exploration and evaluation assets in the current fiscal year, which should have been recorded as a research and development expense in support of the company's intellectual property efforts.
The company continues to own 100 per cent of the unique Albany graphite deposit, and it remains an $ important asset $ as the company works to develop a market for the raw materials produced from the Albany graphite project. As the potential for a robust graphene market grows, and the company's demand for graphene and raw materials grows, the company intends to re-evaluate when it may be appropriate to consider working toward putting the Albany graphite project into production. The company intends to continue to consult closely with the community of Constance Lake First Nation with respect to the Albany graphite project.
Preliminary engineering study by Bantrel Co. commenced in January 2021 for graphite purification, graphene oxide production, and ZENGuard™ production equipment. Engineering efforts shifted to exclusive development of a ZENGuard™ production facility due to availability of sufficient low-cost graphene oxide from an external supplier
The Corporation owns 100% of the Albany Graphite Project in Northern Ontario, Canada. The unusual nature of the graphite in the Albany deposit and its potential economic significance motivated additional exploration drilling from 2012 to 2014.
The graphene nanomaterials market was not considered as part of the June 2015 Preliminary Economic Assessment model. The current claims require a total of $195,600 worth of assessment work per year to keep them in good standing and ZEN has a total credit of approximately $5.8M in available exploration reserves.
The Corporation has no near-term plans to continue any significant work on the Albany Graphite Project in Northern Ontario and is not dependent on materials extracted from the Albany Graphite Project for its current business plans.
On October 18, 2021, the TSX Venture Exchange changed the Corporation’s classification from a “mining issuer” to an “industrial, technology, or life sciences issuer.” The change of classification was approved by the shareholders of the Corporation on September 27, 2021, in accordance with the rules and policies of the TSX Venture Exchange.
Best regards!