- K2fly (K2F) has signed a three-year contract with the Newmont Corporation to begin implementing its RCubed solution
- This contract is expected to generate revenue of more than $900,000
- RCubed is a resource and reporting solution that reports codes like JORC
- Additionally, K2fly attended the recent PDAC 2020 Conference in Toronto, Canada
- Following this convention, K2fly received strong interest from three other gold mining companies
- K2fly shares have dropped 12.8 per cent and are trading for 17 cents each
K2fly (K2F) has signed a three-year contract with mining giant Newmont Corporation to begin implementation work of the RCubed solution.
This contract is expected to generate revenue of more than $900,000.
“We are so proud to have Newmont as a customer as clearly they are the biggest gold miner in the world,” K2fly Chief Commercial Officer Nic Pollock commented.
“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,” he added.
K2fly’s RCubed solution is a cloud-based resource and reserve reporting solution that supports mining codes such as JORC, SAMREC (South African Mineral Resource Committee), and NI43101 (measuring resource in Canada).
It dramatically reduces overhead on the reporting process and provides a systemised process that isn’t available anywhere else.
Additionally, K2fly was present at the recent PDAC (Prospectors & Developers Association of Canada) 2020 Conference in Toronto, Canada.
There were over 1100 exhibitors, 2500 investors and 25,800 attendees present from more than 132 countries.
K2fly’s presence at the conference generated interest from a number of parties in the resources sector.
While there are no guarantees at this point in time, the company is very optimistic about the potential.
“The team present at PDAC was highly buoyed by the level of interest shown by resource companies in our software solutions,” Nic said.
“It very much shows K2fly has world-leading software solutions 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 reporting,” he concluded.
K2fly shares have dropped 12.8 per cent and are trading for 17 cents each at 1:58 pm AEDT.