One of the primary jobs of a CEO and CFO is to keep the company fully funded. When zen declared that they had enough money to last for 2015, they literally issued a dare to the short community. The math did not work from the day they said it. And even with Gov Assist, they never made it. Now delaying it further could be even more devastating. 2015 FUNDED
I think this comes with an arrogance that the money will always be there, even when you know you are changing the odds of that, by not adjusting to your own met data. When ZEN went from Intergalactic planetary Green Green to not so green but green, thats when they should have raised money. Treehuggers would have bought into that. Not now, in fact the entire process has been slowly degraded to cost. ie cheaper then Thermal. Which in itself is a misdirected statement.
Its cheaper then thermal for "ZEN". Why? Well you remember that inconsequential slip of the number thang "up to 92.5%"? Well now it becomes evident why they have dropped the "were better than bad acids" to now not mentioning it and focusing on Thermal.
One, they are no longer green are not even close to green nor would any green person every say, hey these guys are green. The term green is being used as in "greener than". So my diesel guzzling Dodge Dually is Green is a correct statement when you compare it against a Diesel Bulldozer. Why? "green components that reduce the emissions on the truck. Bulldozer....nope.
So ZEN can say they are benign. What is benign? "something that is benign is gentle, kind, mild, or unharmful" but you will also note that its always accompanied with the comparator ie "other forms of purity or specific forms of purity".
So while ZEN was in "operandii mode" WERE GREEN, they should have raised money. Now, now they are no more Green or Benign to the environment then a worse process with advanced environmental fittings.
So why the new focus on thermal? Some may suspect because CCB is using it. Not at all. Here is the issue. ZEN WILL NEVER BE ABLE TO USE THERMAL. Why? Remember that subtle "upto 92.5%" number? The one you thought everyone was toooooo picky on? lol
Well try to upgrade 81-92.5% graphite to a higher purity than what ZEN has, they would spend an absolute fortune to do it.
Now you may say, well the same applies to CCB. Au Contraire Mon Ami. CCB starts, STARTS, with 99.8%+ float. So the time in the furnace to upgrade to 99.9998% is quantums of time less then ZEN would ever be able to do.
So we burn off .1998% of impurities and ZEN would have to burn off 18% to get to our start point. Remember you don't get to sort the low purity flakes from the higher before Thermal unless you want to process smaller portions of your ton. This is why YOU have to know what the purity is between flake sizes? I think we mentioned that before but all the KNATS dismissed it.
So ZEN is stuck, it has to come up with a flowsheet soon that they know will work at production level or they are quite honestly....Toast.
You know when this discussion should have been held? 2 years ago at the AGM failing that This past AGM but you guys were all star struck lol
My opinion only
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