My first thought was "what the hell do they need another...

My first thought was "what the hell do they need another processing plant for?" followed by "what on earth are these guys up to now?".

However, on reflection I think the MOU at Black Swan with POS is more about the future and processing gold once ERL have finalised the initial toll treatment.

As a POS holder, from memory you'll find that Black Swan isn't operational but that POS are actively looking for MOU's, to justify getting their plant up and running. They want to have it operational but with some spare capacity for themselves when the nickel price can justify them beginning to mine their own nickel. Not a bad move on their behalf if they pull it off.

So putting this news together with further exploration drilling, I'd say it's good news and continued potential to turn this into a real mine with a life longer than the initial toll treatment, despite the many hiccups along the way.

What I'd really love to see in the next announcement is that ERL have hired an Industrial Relations expert who knows how to write an ASX release, which explains what is going on without confusing the market even more.

Onwards and upwards, with a little continued patience in the mix.

DYOR IMHO KMA COERL etc.