Reality Check has announced the launch of its Virtual Reality platform “bringing secure, curated, immersive and informative tours of remote and restricted access assets to investors anywhere in the world.”
“Potential investors are based all around the world and industry assets are geographically fixed, the Reality Check team have designed and built the solution to this challenge faced by asset owners,” says Johnny van Eeghen, Founder and CEO.
Backed by industry investors who want to see tech solutions like Reality Check increase their exposure to new opportunities and expedite their investment decisions, Reality Check says it is pleased by the response of asset owners to its service offering. “Even with the Beta product we have done business with Barrick Gold, Knight Piésold and had fierce interest from asset owners from across the industry,” says van Eeghen. He adds: “There’s a constant tension between doing business and the due diligence asset visits, Reality Check reduces this tension by empowering the broker and investor teams to visit multiple sites, on multiple continents in a single day and view all information in situ.”
Founded in 2015 by Johnny van Eeghen following ten years of working as a natural resources, oil and gas broker, “Reality Check has leveraged this deep industry knowledge to build deeply immersive tours, augmented with investor orientated information to deliver a real value proposition to the industry.”
“Where we differentiate ourselves is that we can take 3D models of anything, from surface and underground infrastructure to orebody and drift models, photographs and pop-ups of production and performance stats, and have all these combined and accessible in the 3D platform. It gives interested parties a good initial understanding of the minesite layout and a sense of the mine day to day operation, without having to visit what is often a remote area. We are not looking to replace analyst and similar visits, but it gives a good alternative when they are not possible due to cost and time constraints.”
Barrick Gold was one of the first clients, commissioning the company to model the Pubelo Viejo gold mine in the Dominican Republic. “It has been amazing working with you and your team!!! I am so excited about doing the other sites!” said Michelle Ash, Barrick Gold Chief Innovation Officer. This pilot project took only five days of data gathering on site. Barrick has since commissioned a full visualisation of a second gold mining site.
Positioned for long term partnerships with asset owners, Reality Check tours are curated to help investors confidently understand the value of the asset. “Reality Check couldn’t be just pretty, or have an abstract value, we had to present a clear and direct value case to the industry with different options at sensible price points,” concludes van Eeghen.