17/03/2020 - 06:33

K2fly total contract values hike 41 percent

17/03/2020 - 06:33

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The total contract value of all current clients on the books at ASX-listed K2fly, utilising its “Infoscope” and “RCubed” mining software products is up 41 per cent quarter on quarter to over A$4.7 million. In a positive sign this week, mining giant and foundation K2fly client, AngloGold Ashanti, re-signed with K2fly for another three years with a total contract value in excess of A$240,000.

The total contract value of all current clients on the books at ASX-listed K2fly, utilising its “Infoscope” and “RCubed” mining software products is up 41 per cent, quarter on quarter, to over A$4.7 million. In a positive sign this week, mining giant and foundation K2fly client, AngloGold Ashanti, re-signed with K2fly for another three years with a total contract value in excess of A$240,000. 

The re-sign is significant for K2fly who is looking to create something of a long-term annuity income stream from its software products as it demonstrates the potential longevity and ongoing nature of its client base.

K2fly’s “RCubed” resource governance software delivers security and integrity of reporting for mineral resources and ore reserves and is compatible with several mineral reporting codes such as JORC that is used widely in Australia.

K2fly’s land management system, “Infoscope” allows resource and energy companies to maintain their ‘social license’ to operate on the land.  The single, spatially integrated software solution manages land access and disturbance across multiple elements of the business such as stakeholders, tenements, cultural heritage and environmental management.

K2fly boasts mining goliaths Newmont, South32, Rio Tinto, Newcrest and Gold Fields amongst its stellar cast of customers that have signed on for “RCubed” to-date. 

K2fly’s Chief Commercial Officer, Nic Pollock said: “AngloGold Ashanti was instrumental in the creation of the RCubed solution and is one of the few global mining companies that delivers a dedicated Mineral Resources and Ore Reserves Report. The report is created entirely from within the RCubed Resource Governance solution, from data collection through to publishing ensuring full resource governance, security and the integrity of the data.”

The company said that its reporting solution is performing extremely well across the gold sector with four of the top ten global gold mining companies now using, or at least implementing, “RCubed” to report ore reserves and resources.  K2fly said that its software is now accounting for almost half of all gold ounces reported amongst the top ten gold miners.

The small-cap, ASX-listed Subiaco-based company appears to have taken the global mining scene by storm recently as it racks up multiple customers on multi-year contracts in search of an ever-increasing permanent income stream.

 

Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au

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