Zentek Files Technical Report for the Albany Graphite PEA: US$3.85 Billion After-Tax NPV at a 5% Discount Rate, 27.4% After-Tax IRR, on an Acid-Free Route to Ultra-High-Purity Graphite

Zentek Ltd. has filed the NI 43-101 Preliminary Economic Assessment (PEA) Technical Report for its Albany Graphite Project in Northern Ontario, prepared by Micon International Limited. The PEA outlines a 30-year production life yielding 30,000 tonnes per year of ultra-high-purity graphite products.

Economic metrics include an after-tax net present value (NPV) of US$3.85 billion at a 5% discount rate and an after-tax internal rate of return (IRR) of 27.4%. The project utilizes an acid- and halogen-free thermal purification process via a Fluidized Bed Reactor, achieving 99.99985 wt.% carbon purity (5N+). Initial capital costs are estimated at US$817.0 million, with a discounted payback period of 4.4 years.

Mineral resources stand at 23.1 Mt Indicated at 4.14% Cg and 13.3 Mt Inferred at 2.88% Cg. Permitting is currently in the early stages under Ontario's framework, with no application submitted. Micon recommends advancing the project to a Pre-Feasibility Study (PFS) to de-risk engineering, process design, and scale-up efforts.

Zentek Ltd. (ZEN) released a standard regulatory filing on September 24, 2026, publishing the complete technical report for its project. This filing serves to formally position the project for the next engineering phase, the Preliminary Feasibility Study (PFS), and validates the economic metrics, technical parameters, and resource estimates initially disclosed in the Pre-Feasibility Study (PEA) announcement on August 10, 2026. The filing does not introduce new economic assumptions or unexpected catalysts. Market pricing already reflected the PEA results, meaning the release is an expected, procedural milestone with an incremental impact that aligns with previous expectations.

Zentek Ltd. (ZEN) operates across three core platforms: Albany Graphite, ZenGUARD™ (an antimicrobial air filtration system), and Triera Biosciences (focused on aptamer-based diagnostics and therapeutics). Its flagship asset is the Albany Graphite Project, located in Northern Ontario near Hearst and the Constance Lake First Nation. The project targets ultra-high-purity (5N–6N) natural graphite for use in nuclear energy, defense, aerospace, and advanced battery markets. The company’s proprietary process utilizes a halogen-free thermal purification method, which avoids hydrofluoric acid and aligns with ESG and North American supply chain security priorities. Zentek is currently in the exploration and preliminary economic assessment (PEA) stage, with no mineral reserves defined and no production history.