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K2fly completes SATEVA integration and launches Model Manager solution to miners globally

Published: 10:16 23 Nov 2020 AEDT

K2fly Ltd - K2fly completes integration of SATEVA and officially launches Model Manager solution to miners globally as well as existing customer base
K2F chief executive officer Brian Miller said: “Today is a watershed day for K2fly.”

K2fly Ltd (ASX:K2F) has completed the integration of software developer SATEVA and has officially launched its high-performance storage and analytics solution - Model Manager - to miners globally as well to its existing mineral inventory customer base. 

The SATEVA acquisition and its associated intellectual property bring a suite of three mine geology applications for mining companies around ore body knowledge and control. 

They are relevant to K2fly’s existing global client base and integrates with its existing mineral inventory solutions for deeper technical assurance. 

This is key to K2fly’s ongoing strategy of growing revenues within its expanding customer base with adjacent solutions that its customers can immediately leverage.

"Prospects for 2021 encouraging"

K2F chief executive officer Brian Miller said: “Today is a watershed day for K2fly.”

“We are thrilled to announce that the latest intellectual property from SATEVA, Model Manager, is now ready for the market.

“The integration of the SATEVA business into K2fly has been smooth and efficient, and we are now involved in some very exciting sales opportunities because of the recent acquisition.

“The prospects for 2021 are very encouraging.”

Model manager

Model Manager provides improved block model management and a direct line of sight and governance from the block model to the annual inventory report.

This integrates directly with K2fly’s RCubed Mineral Inventory solution.

K2fly is in the process of demonstrating the Software as a Service (SaaS) bolt-on to existing clients and prospects of its mineral inventory solution.

Maximum Return Mine Geology System

Sateva’s Maximum Return Mine Geology System is being contracted to a new tier-1 global miner.

The system is currently in production at Roy Hill.

Automated ore blocker

The Automated Ore Blocker is an automated ore block-out solution integrated into SATEVA Maximum Return.

This has recently commenced trials at a major iron ore producer and will go into production this quarter.

Dams and tailings

K2fly’s Tailings Reporting and Governance solution is now being demonstrated to 20 major miners with tailings exposure and risk, including existing K2F clients.

The system is now ready for demonstration to those affected by what is a major Environmental, Social and Governance (ESG) issue and to help them to implement the GTS, which was released earlier this year.

Companies that can demonstrate effective tailings governance may be able to:

➢ Dramatically reduce their insurance premium (premiums have risen by 20% in the last two years);

➢ Reduce the cost of implementing the new GTS (estimated at US$10m for a mid-sized miner);

➢ Dramatically improve their stakeholder relations with local communities; and

➢ Reduce their ESG risk.

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