800kt nickel metal indicates 10 baggers , page-33

Hi Soarer,

ENK already announced selling all of non-core assets, and recently "18.7% interest in Berong Nickel Corporation (‘BNC’)for $6,552,000 in cash."

Devoli project is for sale atm, but like Berong Nickel, we cannot get direct info regarding the sale process.

Broker report:

"We include a value of 8p for the Devoli, Berong and Ipilan assets. While these are all non-core for ENK, we believe that some value could be extracted from them. "

Valuation:

Cash from Caldag 10P per share AUD 16c
Acoje 22P 35c
Zambales 10P 16c
Berong 2P 3.2c
Ipilan 1P 1.6c
Devoli 5P 8c


total 80c per share

You know Berong just sold for 3c per share, so this broker's valuation ability is reliable.