1. Limited geographical presence: Earl Resources Limited operates primarily in Australia, which limits its exposure to other potentially lucrative markets.

2. Smaller size: Compared to its peers, Earl Resources Limited is a relatively small company, which may limit its ability to compete with larger players in the industry.

3. Limited product portfolio: The company's product portfolio is limited to gold and base metals, which may limit its ability to diversify and mitigate risks associated with fluctuations in commodity prices.

4. Dependence on exploration success: Earl Resources Limited's success is heavily dependent on its ability to discover and develop new mineral deposits, which can be unpredictable and subject to various risks.

5. Limited financial resources: The company's financial resources may be limited compared to its peers, which may limit its ability to invest in exploration and development activities.

6. Exposure to regulatory risks: The mining industry is subject to various regulations and environmental standards, which may increase the company's costs and limit its ability to operate in certain areas.

7. Vulnerability to commodity price fluctuations: Earl Resources Limited's profitability is heavily dependent on commodity prices, which can be volatile and subject to various external factors beyond the company's control.