here's a copy of NLWest post i was talking about in my prior post. i don't think he'll mind if i post it here..

NLWest:from the initial/grind float process and how it relates to the caustic bake cycle. The following is the relevant quote from the Apr/2013 NR. Nowhere in this does it say that ZEN was achieving only 46% on the grind/float phase of refining. What the NR actually says is that caustic bake was able to achieve 99.97% purity at a minimum and that it could be achieved from grades as low as 46%.

"All trials using a simple caustic baking leach process conclusively demonstrated that an ultra-high purity graphite product with >99.97% Carbon (“C”) can be produced from the Albany graphite deposit. The process was successfully applied to a variety of graphite concentrate samples that had initial carbon grades in the range of 46 – 90% using conventional flotation techniques. In all trials the final purity values were >99.97% C and up to 99.99% C in many cases, regardless of initial carbon grades.(Zenyatta News Release of April 25, 2013).

So, just like the sulphur "issue" this one is "busted". Not only that, Bob has, helpfully, suggested that ZEN can bypass the PEA and go to the PFS stage if they are confident in their results. That would save the company some unnecessary spending.