well theres a way to do it and make a nice profit itll take rougly a month but i like it =) get ur coal from the kingdom on miscellania costs only 91 per but u only get roughly 500 a day when its max then buy the needed number of iron to make the steel bars. then make cannonballs its a bit slow but u make roughly 110k per day 60-69 smithing is a nice little chunk of cash
for attack, a whip is always good. and if u dont wanna eat experiments are good. lvl 25 and 100 hits they get boring though. ankous are always kool too but they require some food. make sure u have a salve amulet if you fight them
my coordinates are 12 degrees 48 minutes North 20 degrees 20 minutes East http://www.zybez.net/locator.php <-- type in coordinates to see exactly where it is its near the zammy mage that teles you to the abyss but its on a mountain and the only entrance is a ladder. im not sure what cave/pass to enter in order to pop out there.