viewK2fly Ltd

K2fly signs three-year deal with mining giant Newmont for RCubed resource governance solution

The RCubed software supports reporting codes such as JORC, NI 43-101 and SAMREC across the major stock exchanges including NYSE, LSE, TSX, ASX and JSE.

K2fly Ltd - K2FLY signs three-year deal with Newmont for its RCubed resource governance solution
The contract value is in excess of $900,000

K2fly Ltd (ASX:K2F) has signed a 3-year SaaS contract with gold mining giant Newmont Corporation (NYSE:NEM) (TSE:NGT) to begin implementing the RCubed resource governance solution for its global operations.

The software solution will capture and prepare resources and reserves data to report from all 12 operating mines as well as joint ventures and projects across global operations to the NYSE, TSX and investors.

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, AngloGold Ashanti Limited (NYSE:AU), Newcrest Mining Limited (ASX:NCM) and Gold Fields Limited (NYSE:GFI).”

The initial contract term is three years, which amounts to a total contract value in excess of $900,000.

PDAC Convention attendance

K2fly was present at the recent PDAC 2020 Conference in Toronto, Canada, which attracted more than 1,100 exhibitors, 2,500 investors and 25,800 attendees from 132 countries.

This exposure for the RCubed solution generated interest from several entities in the resources sector and proposal requests from a further three leading gold mining companies.

Although there are no guarantees until contracts are signed, K2F is very optimistic about these prospects.

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.”

K2fly also continues to receive a high level of interest from NYSE-listed companies continues due to US Securities and Exchange Commission regulation changes which come into effect in January 2021.

Quick facts: K2fly Ltd

Price: 0.35 AUD

Market: ASX
Market Cap: $35.28 m

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