- K2fly Limited has completed the integration of Perth-based technology company SATEVA, which was acquired at the end of October 2020.
- The acquisition is significant to the company's ongoing strategy of improving revenues within the expanding customer base with adjacent solutions.
- The acquisition of SATEVA and its related intellectual property brings to K2F a SATEVA Suite of three mine geology applications.
- K2fly launches SATEVA Model Manager, a high-performance storage and analytics solution to enhance block model management.
ASX-listed technology company K2fly Limited (ASX: K2F) provides technical and reporting solutions to the mining, utilities, oil & gas, and agriculture sectors across Environmental, Social and Governance functions. On 23 November 2020, K2fly announced that it had wrapped up the integration of Perth-based technology company SATEVA. The company had announced the acquisition on 28 October 2020.
To know more, read here: K2fly seals the deal on 'gamechanger' acquisition of Perth-based firm SATEVA
The acquisition is crucial to the company's ongoing strategy of increasing revenues within the expanding customer base with adjacent solutions that the existing clients can immediately leverage.
The acquisition of SATEVA and its related intellectual property brings to K2F a SATEVA Suite of three mine geology applications. These applications can provide solutions to mining companies around orebody knowledge and control.
The suite integrates with K2fly's existing mineral inventory solutions for more profound technical assurance and is particularly relevant to the company's existing global client base.
K2fly launches SATEVA Model Manager
SATEVA Model Manager, a high-performance storage and analytics solution, has been launched today. It provides enhanced block model management and a direct line of sight and governance from the block model to the annual inventory report. It integrates directly with K2fly's RCubed Mineral Inventory solution.
- The company is in the process of demonstrating this impressive Software as a Service (SaaS) bolt-on to the current customers and prospects of K2F's mineral inventory solution.
- Maximum Return Mine Geology System, currently in production at Roy Hill, has now been suggested for use in another tier 1 iron ore mining company.
- Automated Ore Blocker, an automated ore block-out solution has recently started trials at a significant iron ore producer and will go into production this quarter. This solution is integrated into SATEVA Maximum Return.
Image source: ASX announcement dated 23 November 2020
Dams and Tailings Update
K2F has been engaged in creating the Minimum Viable Product (MVP) with its partners Decipher and SAP. In the last few months, the company had been interviewing and collaborating with 20 significant mining companies to discuss their most urgent reporting and governance issues related to the tailings management and implementation of the Global Tailings Standard (GTS).
The system is now available to demonstrate to these companies and others facing major Environmental, Social and Governance (ESG) issue of tailings management. Furthermore, the system will help these companies to implement the earlier released GTS.
Benefits of tailings management: The businesses that can prove effective tailings governance may be able to:
- Significantly decrease their insurance premium in the backdrop of premiums having increased by 20% in the last two years.
- Decrease the cost of implementing the new GTS, which are estimated at USD 10 million for a mid-sized miner.
- Reduce their ESG risk.
- Considerably improve the companies' stakeholder relations with local communities.
Stock performance: On 25 November 2020, K2F closed the day's trade at AUD 0.365, up by 2.8 per cent with a market capitalisation of AUD 35.77 million.