Empire History 101, page-90

sabine
(seems more appropriate to comment here than on RWD).
re our brief contact on the RWD forum I've had a chance to lightly acquaint myself
with ERL and your own posts on not only ERL but your other ASX interests.
You seem to be knowledgeable (more than myself)and fully informed with ERL for some time now but for some reason
haven't decided to take the plunge.I suspect the SP attracts you.
Doubt I can add much to anything you don't already know however here's my tuppence
-for what it's worth and from what I've garnered by a bit of reading last night.
-Penny's Find-amazing high grades and low AISC(allin sustaining costs)- and given all their travails(JV/board/milling etc)
quite remarkable they managed to complete the open cut project).
-MR has bought in @ av. 1.5 cents -angling for board position ?
-I expect ERL will control 100 % of Penny's Find given Brimstone's default
however IMO much more infighting and turmoil yet to come .
As you say MR will not rest until he himself runs the ship.
His personal $$$ resources will decide this.
He has fingers in many many pies.
-What happened to the DFS that was to be completed for the possible u/grnd
stage -surely this should have been completed by now-it's crucial.
Economic feasibility ? Much more difficult now due to :
(a)Much reduced gold price in AUD.
https://www.goldpriceoz.com/gold-price-australia/
(b)Higher AISC for u/grnd operation.
(c)Capital raising
Would I buy in @ SP of ~1.4 cents ps ?
Personally No(too early).
All the above you already know.
re MR-will he make a difference-can't offer an opinion.
People take punts and SPs rise often for no good reason-converse also.
All I can refer you to is that in regard to IRC most HC posters without doubt
gave all credit to his replacement -Jon Price MD/CEO
IRC considered to be in good hands now.
Good luck with whatever you decide.
( Disclaimer :I make no claims on wisdom on these matters).