Ann: Company Presentation, page-33

While we wait for the results for the drilling, it's time to make a guess about what we know so far. You may be surpised!

The A-B and C-D sections (shown in Slide 10 of the recent Company Presentation) are about 100m apart, but the indications from previous drilling are that the stike is more than 200m. The true thickness (width) of the vein/lode is about 20 metres. The dip (depth) of the vein/lode is more than 200m (could be much more) based on Section A-B. The Cobalt grade is at least +0.1% and the Copper equaivalent is roughly +1%. Now let's use those numbers to estimate the ore at Cobalt Ridge. It is at least 200m x 200m x 20 m = 800,000 m3. Now we convert ( by guessing 3 tons per m3) to get an ore body of 800,000 x 3 = 2,400,000 tons. So in the main vein in Cobalt Ridge the minimum amount of cobalt is 0.001 x 2,400,000 = 2,400 tons and the copper equivalent is 0.01 x 2,400,000 = 24,000 tons. Therefore the inground value of cobalt is about 2,400 x $60,000 = US$150 million and double that if the other metals are included. Yes, pinch me or tell me where I stuffed up!

Also, note: The CZN reports say that cobalt is also in other smaller veins and at a lower grade in the surrounding rocks at Cobalt Ridge, but we'll leave that calculation to the experts. Also, the calculation of the JORC cobalt in Canada is left to the experts. (An announcement should be coming sooner or later.) And what is the market cap?

So, bring on the drill results for Cobalt Ridge. Let's hope that there is a follow up drill program of the many anomalies along trend, which is 20 kms, and that it discovers look-alike cobalt/copper/gold deposits, amegos.