K2fly Signs 3-year Contract with World’s Biggest Gold Miner Newmont Inc

  • Mar 12, 2020 AEDT
  • Team Kalkine
K2fly Signs 3-year Contract with World’s Biggest Gold Miner Newmont Inc

Four of the Top 10 Gold Miners Globally Now Use RCubed Resource Governance solution

Technology company, K2fly Limited (ASX: K2F) has inked a contract with Newmont Inc to commence work on the implementation of the RCubed Resource Governance solution which will capture and prepare resources and reserves data to report from all 12 operating mines, as well as joint ventures and projects across global operations to the NYSE, TSX and investors.

The initial term of the contract is three (3) years which amounts to a total contract value (TCV) in excess of AUD 900,000.  

NIC Pollock, CCO

PDAC Convention

K2fly recently attended the PDAC 2020 Conference held in Toronto, Canada, which is the world’s premier Mineral Exploration & Mining Convention for people, companies and organisations engaged in or connected with mineral exploration in some way. The conference saw more than 2,500 investors, 1,100 exhibitors and nearly 25,800 attendees from around 132 countries.

The company also added that K2fly’s presence at PDAC generated interest from a number of resources sector players and proposal requests from a further three (3) leading gold mining companies. So far, the company has not finalised these contracts but is very optimistic about these prospects in the pipeline.

Commenting on the traction received at the Conference, Nic Pollock said that K2fly team present at PDAC was highly buoyed by the level of interest shown by resource companies in the software solutions. He added that this demonstrates K2fly’s software solutions (RCubed and Infoscope) are world leading. The solutions not only offer a way to fulfil mineral resource and ore reserve reporting obligations but also support the need for environmental, social and governance (ESG) reporting.

As reported earlier, the company had announced two proof of concept designs contracts with South32 (ASX, JSE and LSE) and Vale Australia on behalf of Vale S.A. (NYSE, Euronext Paris, LATIBEX and Brazil B3) for the RCubed Resource Governance Solution. Vale is one of the world’s biggest mining companies and is the world’s largest producer of iron ore and nickel while South32 is a globally diversified mining and metals company. The high level of interest from NYSE listed companies continues due to US SEC regulation changes, to come into effect in 2021, and expected to add greater momentum to the business.

                                    K2fly Business Segments

K2fly Business Segments

 

Stock Information: The market capitalisation of K2fly stands at around $ 16.18 million with ~ 82.97 million shares outstanding. On 12 March 2020, the K2F stock was trading at $ 0.175 at AEDT 01:21 PM. K2F has delivered positive returns of 56% in the last one year and 11.43% in the last six months.

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