Ann: Second Agreement Signed for Processing of Penny's Find Ore, page-12

Was out in goldfields last week, Was gonna go for a drive to see the action for my self but did not see the point. A hole in the ground is just a hole in the ground when you have been involved in mining for 25 years.
I believe this quarterly will again be a little lack lustre due to the ridicules time its taken to get started, but the November should be a decent one. There will be a lot of short term investors coming on board for a quick buck over the next 6 months and will be a good time to off load my shares during the SP spikes.
Which ever way you look at it there should be a large sum of cash in the bank and some great news before the end of the year. Should!
Just wish that ERL start to act more like a professional miner than an exploration company. A lot of damage was done to their credibility over the last 12 months with all the shenanigans that have gone on and that ground will be very hard to make up.
I am not all that confident that they will make enough profit and gain enough confidence for investors to support an under ground operation going. I for one would not support it as I don't think management have the skill set required at this point in time. I personally think they are too focused on lining their own pockets and those of their mates.
Digging a small hole in the ground where Pennys is and sending it for toll treatment 60 odd km away is about as easy as it gets when it comes to mining yet still they have blown their original start up date by nearly a year. We should have been finished with the pit and looking at the under ground option by now and yet here we are still waiting to see a truck head to the mill fro processing.
This has been a big disappointment for me and no doubt many others. I think some exploration companies should stick to what they know and leave the mining to companies that know what they are doing. Its all very well wanting to have a go but at least get the right people on the job so you succeed and not look like amateurs. So much potential with so few results.
All IMO.