Ann: Investor briefing - Full year results to 30 June 2018, page-65

In the past I had felt moving into new markets should wait until the company was generating a fair bit of cash, but now I'm in favour of a capital light move into Canada with some of their existing US client base with operations in Canada providing instant revenue.

As for completely new jurisdictions, UK and Europe is often mentioned. UK for ease of language and as a beach head for moving into Europe. Notwithstanding Brexit.

But the other one of significance is Japan. An advanced economy, small capture area, 130m people, high density and volatile geology. Though language and cultural barriers are not insignifcant.

I'd prefer to go safe with Canada late this year or early next FY, followed by UK later and into Europe, and then Japan.

RN states in the Commsec vid, that they are considering new geographies either later this year or early next. I guess, he means Canada. NZ seems to be the trial run for capital light expansions into neighboring jurisdictions.