Please review the link below.
Is it their intention that Eddy currents traveling along the assumed electrically conductive object is the bases of this circuit or, do you think there is more to it than that? This popped up while looking around for Eddy Current sensing and this kind of intrigued me.. For ever reason, my older Netscrap browser shows it as an offset to the left, so I can't read the article. IE only shows this image and a blank window where the article should be.