Ann: NWR Perth Presentation, page-20

Managing a drill rig and drill crews are a distraction we don't need. I like our keep it simple, capital light operation. I have worked for exploration and mining companies that have owned and operated their own rigs and it works in some countries where labor is cheap but reliable contractors are expensive. I wouldn't try it in WA when we are still growing a small company and we are in a great location for hiring contractors when we need them. Owning their own rigs works well for AUE in west Africa where they have huge meters to drill.