I really like the size of ZEN's deposit. I think their graphite will readily sell. I like the people ZEN has attracted to it's project. Government money is a good thing.

That is a lot of good stuff. It has also been in place for a long time. The size of the deposit was apparent early on, and each successive drilling announcement confirmed it. They released two or three NRs that sang the praises of the "easy, green" methods to get to ultra high purity early on in the play. Since then, the easy seems to have been lost, and the amount of base and acid needed has punctured the green notion to a degree. They hired Chahar in late 2014, and Yamashita a couple of months later. That was all during the time I owned ZEN, and it was the reason why.

But since those heady days, not much has happened. They have released NRs saying end users find ZEN "comparable" to test materials, without providing the test materials specifics. They say they sent out 35+ samples to prospective end users, but few have said anything positive, and none have felt the urge to pony up any cash. Even the concrete tests are paid for by grants, with ZEN providing the graphite (for free, presumably).

Sorry, but people were gung-ho during the early years, so I think it was understood what the potential was here. And still might be. But they've stalled, and the share price reflects the uncertainty that they will ever get it going.