EUC Future SP, page-7

MidfieldGeneral,

Excluding, silver/copper this should give you an idea of the in-ground 'potential' from known veins based on:

Combined strike length of the known vein systems (26,000) * metres ore body goes down dip (500) * vein width (1.5) * density (3.5 tonnes per m3) and Co-Ni from 1% up to historical averages from the Zemberg vein system which produce of an average grade of 4% Co and 16% Ni:

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0			Cobalt
1			1%	2%	3%	4%
2	Nickel	0%	$ 40,950,000,000	$ 81,900,000,000	$ 122,850,000,000	$ 163,800,000,000
3		1%	$ 47,775,000,000	$ 88,725,000,000	$ 129,675,000,000	$ 170,625,000,000
4		2%	$ 54,600,000,000	$ 95,550,000,000	$ 136,500,000,000	$ 177,450,000,000
5		3%	$ 61,425,000,000	$ 102,375,000,000	$ 143,325,000,000	$ 184,275,000,000
6		4%	$ 68,250,000,000	$ 109,200,000,000	$ 150,150,000,000	$ 191,100,000,000
7		5%	$ 75,075,000,000	$ 116,025,000,000	$ 156,975,000,000	$ 197,925,000,000
8		6%	$ 81,900,000,000	$ 122,850,000,000	$ 163,800,000,000	$ 204,750,000,000
9		7%	$ 88,725,000,000	$ 129,675,000,000	$ 170,625,000,000	$ 211,575,000,000
10		8%	$ 95,550,000,000	$ 136,500,000,000	$ 177,450,000,000	$ 218,400,000,000
11		9%	$ 102,375,000,000	$ 143,325,000,000	$ 184,275,000,000	$ 225,225,000,000
12		10%	$ 109,200,000,000	$ 150,150,000,000	$ 191,100,000,000	$ 232,050,000,000
13		11%	$ 116,025,000,000	$ 156,975,000,000	$ 197,925,000,000	$ 238,875,000,000
14		12%	$ 122,850,000,000	$ 163,800,000,000	$ 204,750,000,000	$ 245,700,000,000
15		13%	$ 129,675,000,000	$ 170,625,000,000	$ 211,575,000,000	$ 252,525,000,000
16		14%	$ 136,500,000,000	$ 177,450,000,000	$ 218,400,000,000	$ 259,350,000,000
17		15%	$ 143,325,000,000	$ 184,275,000,000	$ 225,225,000,000	$ 266,175,000,000
18		16%	$ 150,150,000,000	$ 191,100,000,000	$ 232,050,000,000	$ 273,000,000,000

So all in all the preliminary results continue to support the thesis that the team will shortly be able to delineate an enormous Cobalt and Nickel resource. Though it is early days still, the results to date could certainly support a $500m market cap. Bear in mind, if the project was fully derisked we could be trading at $5.00+ based on the potential identified above.

Not sure where or who the selling has come from, however i suspect there would be some profit taking, which is not surprising, due to the run to date + a lot of former WMN shareholders remaining on the register, and once finished this should rocket upwards through the previous high.