Ann: FY20 Results commentary, page-9

Not sure your stance on this, but having renewed contracts with Fortescue Metals Group, Roy Hill Iron Ore and Hancock Prospecting, as well as one off scope of work contracts with Iluka Resources, Newcrest Mining, AngloGold Ashanti and Atlas Iron. These contracts were supplemented with a multirig dry hire contract with Easternwell Minerals.

I'm fairly sure big name players like this won't go around with the 'older fleet' or 'mechanical issues'.

"Execution of these contracts has enabled the bedding down of the hydrogeological drilling business and the quick
establishment of a reputation within industry of being able to provide solutions to execute challenging scopes of
work. This performance for clients has enabled the Company to renew contractual terms for our services moving
forward into FY2021."

Having 8 of our rigs out at the moment and two under maintenance means that they are consistently sought after, or else they wouldn't be purchasing two more rigs from NZ.

PS. With $9.71mill cash at 30 June, we would almost be bording on $11mill by this stage given June Quarter operating cash flow, there may be some more news regarding the use of these funds (eg. pay down debt, growth, acquisition etc.). Looking forward to the Sep quarterly.

Cheers