Tag Archives: K2fly

K2fly gets to work on RCubed mineral inventory reporting solution for South32

IoT, Mineral exploration, Mining services, Mining software, , , ,

K2fly has signed up diversified mining and metals company, South32, to use its resource governance solution, RCubed.

South32 is expected to use the platform for its mineral inventory reporting for five years, with the total contract value more than A$880,000 ($608,419), K2fly said.

The full implementation is to commence immediately and will cover 19 global operations, the company added.

Nic Pollock, K2fly’s Chief Commercial Officer, said: “It is a great honour to be working with South32. This adds to our growing list of diversified customers like Rio Tinto, Teck Resources and Nexa Resources.”

The company says its total contract value has growth 45% this quarter and is now over A$6.9 million, compared with the end of the March quarter.

K2Fly wins RCubed contract extension with AngloGold Ashanti

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K2fly is to keep running the reserve and resource numbers for AngloGold Ashanti after the Johannesburg-based gold miner signed up for another three years of the RCubed Resource Governance solution.

AGA, the third largest gold mining company in the world measured by production, was pivotal in the development of RCubed, according to K2Fly, with the gold miner’s New York listing being the inspiration behind the product.

Nic Pollock, K2fly Chief Commercial Officer, said: “AngloGold Ashanti was instrumental in the creation of the RCubed solution and is one of the few global mining companies that delivers a dedicated mineral resources and ore reserves report. The report is created entirely from within the RCubed Resource Governance solution, from data collection through to publishing ensuring full resource governance, security and the integrity of the data.”

RCubed software, K2fly says, generates resource and reserve reports that support reporting codes such as JORC, NI-43-101 and SAMREC across the major stock exchanges – including NYSE, LSE, TSX, ASX and JSE. It assists mining and resource companies in complying with their regulatory reporting obligations, according to the company.

The gold sector is performing extremely well for K2fly and RCubed sales with four of the top 10 global gold mining companies now using or implementing RCubed to report their resources and ore reserves, the company said. Only last week, the company signed up Newmont as a new RCubed customer.

K2fly’s total contract value for its own software solutions (RCubed and Infoscope) has risen by a further 41% in the March quarter to more than A$4.7 million as the contract terms extend, the company said. “This trend is expected to continue with further multi-year contractual negotiations in the pipeline.”

K2fly to run the resource, reserve numbers for Newmont

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K2fly Limited says it has been awarded a contract from Newmont to commence work on implementation of the RCubed Resource Governance solution for its global operations.

This will see the solution 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, according to K2fly.

The initial contract term is three years, which amounts to a total contract value in excess of A$900,000 ($580,908), the company said.

Nic Pollock, K2fly Chief Commercial Officer, 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, Anglo Gold Ashanti, Newcrest and Gold Fields.”

RCubed software, K2fly says, generates resource and reserve reports that support reporting codes such as JORC, NI-43-101 and SAMREC across the major stock exchanges – including NYSE, LSE, TSX, ASX and JSE. It assists mining and resource companies in complying with their regulatory reporting obligations, according to the company.

Reporting on the ASX-listed company’s attendance at the recent PDAC 2020 conference in Toronto, Canada, meanwhile, K2fly said its presence at the event generated interest from a number of entities in the resources sector and proposal requests from a further three “leading gold mining companies”.

Westgold and K2fly to collaborate on Infoscape software developments

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K2fly says Westgold Resources has agreed to a new long-term contract to use its existing Infoscope software and partner with K2fly to develop additional enhancements to the software with a view to integrating its tenement and title’s management applications.

Additional overlays of the software include royalties, contracts, permits, licensing, and environmental and stakeholder management to provide a consolidated management tool.

InfoScope provides a single, spatially integrated solution to manage information relating to land access and compliance across multiple industries, according to K2fly. It delivers effective stakeholder, tenement, cultural heritage, native title and environmental management along with a full life-cycle ground disturbance process.

Westgold operates three gold production hubs in the Murchison Region of Western Australia, according to K2fly.

“Known as one of the largest regional consolidations within the gold sector, the group manages over 350 titles and a complex web of resources, road and infrastructure networks, licences, permits, service contracts and stakeholder engagements,” the company added.

Westgold’s Executive Chairman, Peter Cook, said: “We have long been looking for a land management system that expands beyond the traditional mining title area and enables us to integrate the multitude of layers associated and attached to our titles to an interactive and linked solution. Our industry needs a solution that enables us to operate faster and more efficiently in these areas.”

Nic Pollock, K2fly Chief Commercial Officer, said Westgold was “more than a customer”.

“They are actively partnering with K2fly and contributing to the further development of our land management solutions in a very meaningful way, assisting us to improve and expand our market offering.”

Rio Tinto looks to K2fly’s RCubed solution for resource governance

IoT, Mineral exploration, Mining services, Mining software, , ,

K2fly says it has signed a contract with Rio Tinto that will see the mining major implement the RCubed Mineral Resource and Reserve solution across 20 sites globally.

Implementation will commence immediately, with the total contract value, including initial implementation costs, estimated to be A$1.45 million ($985,675).

The RCubed solution will replace an inhouse system and will assist Rio Tinto in providing mineral resources and ore reserves reporting and governance for its shareholders and regulators, according to K2fly.

RCubed software, K2fly says, generates resource and reserve reports that support reporting codes such as JORC, NI-43-101 and SAMREC across the major stock exchanges – including NYSE, LSE, TSX, ASX and JSE. It assists mining and resource companies in complying with their regulatory reporting obligations.

Nic Pollock, K2fly Chief Commercial Officer, said: “Rio Tinto’s signing represents a significant milestone for K2fly and is further recognition from a Tier 1 miner that our RCubed solution represents the most compelling offering in resource governance solutions. We are extremely proud to be working with such an industry leader.”

K2fly’s RCubed hits new heights with Newcrest Mining SaaS agreement

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K2fly says it has signed an agreement with Newcrest Mining to implement its RCubed resource governance software as a service (SaaS) solution.

The agreement covers the rollout of the RCubed software solution across the reporting lines of Newcrest for its resources and reserves in its global gold operations across seven sites in Australia, Indonesia and Papua New Guinea.

The deal follows closely on the heels of K2fly signing a similar SaaS pact with Glencore Canada. It is also less than six months since K2fly acquired the RCubed software through the acquisition of Prodmark Pty Ltd.

RCubed software generates resource and reserve reports that support reporting codes such as JORC, NI-43-101 and SAMREC across the major stock exchanges – including NYSE, LSE, TSX, ASX and JSE. It assists mining and resource companies in complying with their regulatory reporting obligations.

This is a three-year SaaS based software contract and, with implementation costs, is worth more than A$150,000 ($100,145) in the first year, according to K2fly. Implementation is to commence immediately, and there will be recurring revenues on an annual basis. The initial total contract value is over A$330,000, K2fly said.

As with all RCubed implementations, each operation and all relevant data is captured at a base level and involves comprehensive governance data capture and reporting, the company said.

Nic Pollock, K2fly Chief Commercial Officer, said: “Newcrest is the largest gold producer listed on the ASX and a top 10 global producer and adds to the growing momentum we are seeing within the mining industry and its acceptance of RCubed as a resource governance reporting solution.”

Fortescue and K2fly in it for the long haul

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Fortescue Metals Group has extended its contract with K2fly as it looks to bolster its tenement management processes across its operations in Western Australia.

The miner has been using K2fly’s Infoscope Land Management software since 2012. Its use has expanded over time to cover multiple business units including tenements and acquisition, heritage and native title, environment approvals and its vocational training and employment centre.

Infoscope helps small and large companies maintain their social licence to operate on land, providing “a single, spatially integrated solution to manage information relating to land access and compliance across multiple industries”, K2fly says.

“It delivers effective stakeholder, tenement, cultural heritage, native title and environmental management, along with a full lifecycle ground disturbance process.”

FMG has recently raised purchase orders in excess of A$300,000 to have additional developments made within its Infoscope solution, the software provider said. The assignments will start in July and is due for completion within the first half of K2fly’s financial year 2019.

K2fly CEO Brian Miller said the contract extension with FMG, which uses Infoscope on a ‘Software as a Service’ basis, “indicates the long-term value FMG sees in the solution”.

“This services and consultancy contract extension comes at a time when other service contracts have been won by K2fly including significant opportunities with Western Power which were previously announced. This will have a material impact on K2fly’s revenues in the first half of FY2019,” he said.