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K2fly welcomes three-year Rcubed contract extension by Teck Resources

High level of interest from NYSE listed companies continues as US SEC regulation changes come into effect in 2021.

K2fly Ltd - K2fly welcomes three-year Rcubed contract extension by Teck Resources
Teck is a leader in sustainability and committed to responsible resource development

K2fly Limited (ASX:K2F) has welcomed the recent three-year annual extension to Teck Resources original RCubed contract set to begin in December 2019.

Teck is a diversified resource company committed to responsible mining and mineral development with business units focused on steelmaking coal, copper, zinc and energy.

Headquartered in Vancouver, British Columbia (B.C.), Canada, Teck own or have interests in 13 operating mines, a large metallurgical complex, and several major development projects in the Americas.

K2fly chief commercial officer Nick Pollock said: “We are very proud to call Teck a customer as they live the values that we aspire to in leading Environment, Social and Governance (ESG) practices in the mining sector.”

Multi-year contracts in the pipeline

RCubed Total Contract Value (TCV) has risen sharply by 159% in Q2 to more than $2 million as the contract terms extend.

This trend is expected to continue with further multi-year contracts in the pipeline.

Although these potential contracts are still in negotiations and until complete, there are no guarantees.

Background

K2fly owns the following Software Solutions:

  • Mineral Resource Governance - RCubed a resource and reserve reporting solution that supports reporting codes such as JORC, NI43101 and SAMREC across the major stock exchanges – including NYSE, LSE, TSX, ASX and JSE; and
  • Natural Resource Governance - Infoscope, an Enterprise Land Management, Natural Resource Governance and Stakeholder Relations solution for the Energy and Resources market. K2fly has strategic alliances with global technology companies such as: GE(USA), Esri (USA) and SAP (Germany).

Quick facts: K2fly Ltd

Price: 0.305 AUD

ASX:K2F
Market: ASX
Market Cap: $28.18 m
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