Look, I'm not trying to be a jerk about ZEN. I think having someone who's not naturally going to take every bit of info as being positive helps keep perspective. If I, or others, say something you don't like, being able to argue it down logically helps solidify your ownership. If you can only say you disagree, without backing it up, maybe a harder look is warranted.

With regards to the last news release, interpretation can certainly go in many directions. You look at it in a favourable light. I suspect it is at least partially because you want it to be seen that way. I can look at it either way, not being financiially involved. And while your view might be valid, so might a view of having need of further improvements in the flowsheet before they can advance. I think this is one of the issues of their NRs, that they don't always literally spell out what is intended.

Finally, do you agree that the various members of the team have earned further freebies, in the form of options? For three years, the shareprice has basically gone down. They put in no money of their own when the opportunity to support the company presented itself. From the outside, it just looks like they want to have the ability to profit in case things work out, without the willingness to actually put up any cash. Something they expect their loyal shareholders to do.