Whoa! Take a Vallium! Chill! Lots of Sour Grapes this morning. lol
to summarize the PEA....
resource size, down (significantly)
No it is not. It is all still there. For the purposes of THIS document, SGS chose not to include it. It does not mean it does not exist!
sales price per tonne, down
Again, that is dependant on the average of all selling prices and we still don't know (for sure) about the last sector ZEN will target and in what proportions all product will be allocated. Therefore we do not yet know the average selling price. Only what was assumed for the purposes of this document.
processing cost per tonne, above expecations
We really didn't have anything to go on here. ZEN/SGS have created a Patent(ed/able?) new process just for ZEN. That does cost more but is unique to Zen. The important number to focus on is what is the profit margin and that will depend more on the answer to the average selling cost (your second point) than the processing cost.
capex, higher than expecations (significantly)
Again, we were flying in the dark on this one. At least we now have greater certainty to the number.
annual production estimates, lower than expecations
Again, this is a preliminary document. When they haven't announced exactly what the total target market is and in what proportions, this is a guesstimate at best.
Let's see what the last segment is that they are targeting and see what that does to the buyout or build it decision.
To me this PEA has the look of a document that was either meant to satisfy somebody's board of directors need for some numbers before they make an offer or, for ZEN to take to the bank to actually fund the build themselves when they come up with the missing sector.
Boxterfan
