13/03/2020 - 15:27

Newmont signs on for K2fly software

13/03/2020 - 15:27

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K2fly has added another global miner to its stellar list of customers for its extraordinarily successful “RCubed” resource governance mining software. Mining giant Newmont has signed a three-year software provision deal with K2fly with a total contract value in excess of A$900,000. K2fly said customer interest was strong in Toronto recently at the world’s premier mineral exploration and mining convention, PDAC 2020 where the ASX-listed technology player showcased its software.

K2fly has added another global miner to its stellar list of customers for its extraordinarily successful “RCubed” resource governance mining software. Mining giant Newmont has signed a three-year software provision deal with K2fly with a total contract value in excess of A$900,000. K2fly said customer interest was strong in Toronto recently at the world’s premier mineral exploration and mining convention, PDAC 2020 where the ASX-listed technology player showcased its software.

Newmont Corporation is a global gold miner with a New York Stock Exchange listing, a US$37 billion market capitalisation, operations on four continents and a gold mine at Boddington in Western Australia.  Newmont ticks all the boxes in K2fly’s strategy to target NYSE-listed mega-entities for the gold resource reporting template in its RCubed software.

Newmont joins a star-studded peer group of gold mega-miners to have signed on recently for RCubed including Anglo Gold Ashanti, Newcrest and Gold Fields. These four serious gold mining outfits add to an already impressive list of global K2fly mining customers that includes BHP spinoff, South 32, Rio Tinto and Vale Australia.

The small capped Subiaco based tech company has literally burst onto the global mining software scene recently with RCubed and in a very short time has managed to lock down the biggest whales in the mining business for its software platform – a feat that every small business selling mining related products would like to replicate.

K2fly said it has already picked up three new requests for proposals from other gold mining companies after the PDAC convention. 

K2fly Chief Commercial Officer, Nic Pollock said: “We are so proud to have Newmont as a customer as clearly they are the biggest gold miner in the world however, we also share the same values on social and corporate responsibility. Our gold resource reporting template is increasingly becoming the industry standard, and we can now proudly lay claim to our RCubed Resource Governance solution being used by four of the top 10 gold miners globally: Newmont, Anglo Gold Ashanti, Newcrest and Gold Fields.”

PDAC, as the world’s premier mineral exploration and mining convention, hosted over 1,100 exhibitors, 2,500 investors and a staggering 25,800 attendees from 132 countries this year.  K2fly clearly had some very fertile ground and a captive audience with which to market its wares.

MR Pollock said: “The team present at PDAC was highly buoyed by the level of interest shown by resource companies in our software solutions. It very much shows K2fly has world leading software solutions (RCubed and Infoscope) which not only provide a solution to their mineral resource and ore reserve reporting obligations but also support their need for environmental, social and governance (ESG) reporting.”

The proverbial dam wall has certainly broken now for K2fly as its RCubed resource governance mining software trends towards becoming the industry standard in large cap mining companies.

The software as a service model can become quite lucrative as it essentially creates something of an ongoing annuity for the technology owner and no doubt that is the ultimate goal of K2fy – to have all of the world’s mega-miners paying it a monthly fee to use its software – now that would make for an interesting set of numbers.

 

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

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