Tag Archives: MSALABS

MSALABS to drive productivity improvements at Nevada Gold Mines complex with new contract

Mineral exploration, Mining services, Sustainable mining, , , , , , ,

MSALABS, a global provider of geochemical laboratory services for the exploration and mining sectors, has cemented a major, five-year new contract with Nevada Gold Mines in the US that will see the majority-owned subsidiary of Capital operate a state-of-the-art hybrid laboratory on the gold miner’s behalf. The lab will incorporate both Chrysos PhotonAssay™ technology and traditional fire assay methods as well as full multi-element assaying capabilities.

This represents the largest contract award in MSALABS’s history, anticipated to generate some $140 million over the five-year term, with annual revenues of circa-$30 million once fully operational. Capital expenditure for the project is expected of circa-$7 million in 2024.

Phase one of the project will commence towards the end of the first half of 2024 with the commissioning of two Chrysos PhotonAssay units and a capacity of 80,000 samples per month. Phase two will commence at the end of 2024 with the third Chrysos PhotonAssay unit along with the full geochemical laboratory bringing capacity to 120,000 samples per month as well as associated multi-element testing.

The Nevada Gold Mines contracts represents a significant beachhead for MSA in the US market, entrenching the company’s presence in the Americas, both operationally given the full suite of services across preparation, PhotonAssay, fire assay and multi-element chemistry at a major operation, and also geographically, expanding its footprint in the Americas from its multiple laboratories across Canada and South America, it said.

It also comes alongside Capital’s recently-awarded drilling contract at NGM, which encompasses a wide array of drilling services including underground reverse circulation and diamond, both surface and underground, in addition to Capital announcing former BME and Orica team member Aaron Austin as CEO of the Americas.

Stuart Thomson, MSALABS CEO, said of this contract award: “We are thrilled to have been awarded this material contract, adding to our existing PhotonAssay contracts with Barrick at Bulyanhulu and Kibali. This contract reflects not only the proven advantages of the innovative PhotonAssay technology but also the trusted capabilities of MSALABS across traditional fire assay and multi-element analysis.

“This state-of-the-art hybrid laboratory will be the first of its kind in the USA and, with MSALABS’ holistic approach to laboratory design, will help drive productivity improvements to the Nevada Gold Mines complex.

“These three new PhotonAssay units mark the start of a broader partnership agreement with Barrick Gold, with trials underway for a possible 10 further PhotonAssay units by the end of 2025 across multiple of Barrick’s other operations.”

Capital books ~$35 million drilling services contract with Nevada Gold Mines

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Capital, a leading mining services company, has announced the award of a material drilling contract in Nevada with Nevada Gold Mines and associated rig purchases, together with an update on the ramp up of operations at its Ivindo iron ore contract in Gabon.

The three-year drilling services contract with Nevada Gold Mines (NGM) in the US spans a wide range of drilling services including diamond, both surface and underground, and underground reverse circulation. Drilling spans a number of operations across NGM including underground diamond drilling in the Leeville underground mine within the Carlin complex, underground RC drilling in Carlin and diamond drilling at the Robertson project within the Cortez complex.

NGM is a joint venture between Barrick (61.5% ownership) and Newmont (38.5% ownership), with Barrick as operator. NGM operates three Tier One gold assets: Carlin, Cortez and Turquoise Ridge, consisting of 10 underground mines, 12 open-pit mines and associated facilities.

The contract will consist of nine rigs and will include equipment with advancements in automation for improved safety and efficiency, Capital said.

The contract is expected to generate annualised run rate revenues of circa-$35 million once all the rigs are fully operational from 2025, at margins commensurate with the broader group, Capital said. The company will purchase new rigs with associated equipment for the contract with capital expenditure expected to be circa-$20 million, predominantly falling in 2024.

In Gabon, the company reported that ramp up of operations at its load & haul, crushing and drilling contract with Ivindo Iron SA, majority-owned by Fortescue, was proceeding well.

“We have now commenced drilling operations to assist in further defining this world-class deposit,” Capital said. “The majority of the mining equipment is now in country with operations also already underway, and crushing due to commence later in the year.”

Peter Stokes, Chief Executive Officer of Capital, said: “This new drilling contract award represents a landmark moment for Capital as we extend our geographic reach in drilling into North America, adding to our existing and growing operations in Canada with MSALABS. It is a strong endorsement of our long-standing commitment to world leading standards in both safety and productivity.

“We are pleased to further expand our services with Barrick, having begun our relationship across operations in Africa before extending more globally, first at the Reko Diq mine in Pakistan, earlier this year, and now to the Nevada Gold mines complex in the United States.

“It is also great to see a continuation of our decisive and strategic move to reposition and improve our contract portfolio, set out in the second half of 2022, focusing on large-scale mine sites and Tier-1 projects with significant growth potential. The addition of world-class contracts in 2023 across Reko Diq, Ivindo and now Nevada presents significant further opportunity and a strong platform as we look into 2024.”

MSALABS continues to build global PhotonAssay offering on ‘undeniable’ demand

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MSALABS, a global provider of geochemical laboratory services for the exploration and mining sectors and a majority-owned subsidiary of Capital, has provided an operational development update to coincide with the annual PDAC convention in Toronto, Canada, which highlights the deployment of western Canada’s first PhotonAssay™ technology unit.

The first few months of 2023 have seen MSALABS maintain its significant growth momentum from 2022, with the delivery of a strong operational performance from existing contracts, as well as the successful commissioning of a number of new laboratories, it said.

The western Canada first occurred at Prince George, in British Columbia, with the unit now commissioned and set to begin processing samples from a broad range of customers in the region.

In January, meanwhile, the company commissioned a PhotonAssay unit at Barrick’s Kibali mine in the Democratic Republic of the Congo, the largest gold mine on the Africa continent.

MSALABS has been a champion of Chrysos Corp’s PhotonAssay technology, which it says delivers multiple advantages over the slower, more hazardous fire assay process, such as faster, safer, more accurate and environmentally-friendly analysis of gold, silver, copper and other elements.

In July last year, it expanded its partnership with Chrysos Corp, planning for the deployment of 21 units across the globe by 2025.

In its latest update, MSALABS said its traditional business also continued to grow. with the commissioning of mine site and regional laboratories.

Included among this is the commissioning of the Singida mine site laboratory for Shanta Gold’s Singida mine in Tanzania, following a three-year contract, awarded late last year.

In Mali, meanwhile, MSALABS commissioned the laboratory in Bougouni, which will support gold and lithium operations in the southern part of the country. The first samples from Leo Lithium’s Goulamina operation are expected within days, it said;

At PDAC, the company is also expecting to sign a franchise partnership with Aurora Minerals Group to provide geochemistry services to the burgeoning Kazakhstan mining industry.

Stuart Thomson, MSALABS CEO, said: “MSALABS has got off to a very strong start in 2023, testament to the strong demand we are seeing for our services but also the continued hard work of our employees to deliver such impressive growth. Announcing new labs across all three of our major regions, further diversification of commodity mix and entry into a new country is indicative of the increasing strength and robustness of MSALABS.

“In particular, the demand for Chrysos PhotonAssay is undeniable with a multitude of major mining companies continuing to run trials and converting to the revolutionary technology. In partnership with Chrysos, we are proud to be bringing this technology to western Canada with our new commercial laboratory at Prince George where we can service the significant mining region.”

New Found Gold proves out Chrysos PhotonAssay sampling method

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New Found Gold and its consultants, following detailed test work and a quality control program, have highlighted the Chrysos PhotonAssay™ method as an appropriate technique for determining gold content in samples from its Queensway project, in Newfoundland and Labrador, Canada.

The company announced this alongside assay results from 14 diamond drill holes completed as part of a program designed to test the Keats Main Zone located along the Appleton Fault Zone (AFZ) at Queensway.

Over the past several months, the company tested hundreds of samples in the low-, mid-, and high-grade range, comparing the results of the photon assay method with traditional fire assay, and found a very strong correspondence of the results, it said.

Moving forward, the company will use the photon assay method at MSALABS’ Val-d’Or facility, as well as ALS Minerals’ Vancouver laboratory for traditional fire assay and screen fire determination, to ensure the most efficient turnaround times on assays. The ongoing quality control (QC) program will include analysis of some samples by both methods to monitor accuracy, the company said.

PhotonAssay, Chrysos says, delivers faster, safer and more accurate analysis of gold, silver and complementary elements by non-destructive measurement of larger and more representative samples in as little as two minutes, enabling rapid turnaround of critical operational information that drives optimisation throughout the mining value chain.

The system, originally developed at Australia’s national science agency, CSIRO, provides an environmentally friendly, chemical-free, more sustainable replacement for traditional fire assay methods, significantly reducing CO2 emissions and hazardous waste.

Melissa Render, VP Exploration for New Found, said: “We are…excited to debut the use of the Chrysos PhotonAssay method following several months of testwork, clearing the way for New Found to begin shipping a steady flow of material to MSALABS for assaying. The PhotonAssay method is efficient, non-destructive, cost effective and environmentally friendly. These are important attributes that we strive to incorporate into all aspects of exploration at New Found Gold and we are excited to partner with Chrysos and MSALABS to apply this technology at Queensway.”

Lynda Bloom, a sampling and assay expert that has assisted New Found with its QC programs and who has evaluated photon assay data for several other projects, said: “Prior to releasing PhotonAssay results, New Found conducted a thorough evaluation of the method by doing extensive testing against fire assay determinations. Even though over 3 million photon assays have been reported worldwide to date, it was important to prove to management that the method does not bias gold results with respect to fire assay for Queensway samples.”

MSALABS to bolster Chrysos PhotonAssay inventory on ‘exceptional demand’

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MSALABS, a global provider of geochemical laboratory services for the exploration and mining sectors and a majority-owned subsidiary of Capital Limited, has expanded its global partnership with Chrysos Corp that will see it bolster its number of PhotonAssay™ units.

The partnership will see MSALABS deploy 21 Chrysos PhotonAssay™ units across the globe by 2025.

In April 2021, MSALABS announced its global partnership with Chrysos and revealed the planned deployment of six PhotonAssay units across its global network. This rollout commenced with a unit at Barrick Gold’s Bulyanhulu Gold Mine, in Tanzania, and represented the first Chrysos PhotonAssay unit deployment outside of Australia.

MSALABS has continued the rollout with units now commissioned at the Morila Gold Mine, in Mali (Firefinch), and in Val d’Or, Quebec, Canada. A fourth unit will arrive imminently in Yamoussoukro, Cote d’Ivoire, with facility preparations well advanced. A fifth unit is ready for shipment to the Kibali Gold Mine, in the DRC (Barrick Gold), with the sixth unit due to begin installation in Timmins, Canada, by the end of 2022.

The company has committed to a further 15 Chrysos PhotonAssay units that will be rolled out over 2023 and 2024. MSALABS says it is currently engaged with multiple mining companies globally, including most of the top 10, and continues to see “exceptional demand” for this revolutionary new technology.

PhotonAssay delivers multiple advantages over the slower, more hazardous fire assay process, according to MSALABS. The technology provides faster, safer, more accurate and environmentally-friendly analysis of gold, silver, copper and other elements. The process is significantly simpler than fire assay, dramatically improving the turnaround time for results and reducing the risk of human error, with the added benefit of being able to retain and retest samples. In addition, the use of X-rays avoids the high temperatures and harmful chemicals such as lead and acids involved in fire assay, making it more environmentally friendly with a lower carbon footprint.

Revenue guidance for MSALABS in 2022 remains circa-$30 million, which includes the rollout of the initial six Chrysos PhotonAssay units by year-end, with each unit generating $3-5 million, depending on use. Following the rollout of the further 15 units across 2023 and 2024, in conjunction with the expansion of the existing geochemistry business, MSALABS anticipates generating revenues in excess of $80 million/y.

Stuart Thomson, MSALABS CEO, said: “We are pleased to expand our relationship with Chrysos and to assist in the global rollout of its revolutionary technology. Over the past year, we have seen very strong demand for Chrysos PhotonAssay, and we expect this interest to continue to grow as our global mining customers not only gain confidence in its accuracy and reliability, but also benefit from the substantially improved turnaround time for results not possible with fire assay. In recent years we have grown our network significantly and now have 18 laboratories globally. Adding Chrysos PhotonAssay into our service offering is exciting for us and a key benefit for our customers.”

New Found Gold to use Chrysos PhotonAssay method for Queensway drill core

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New Found Gold says it is proceeding immediately with assaying of drill whole-core samples from its Queensway Project, in Newfoundland, Canada, using the Chrysos PhotonAssay™ method at Intertek’s facilities in Perth, Western Australia.

Novo Resources Corp, a significant shareholder of New Found, currently uses Intertek’s Chrysos PhotonAssay facilities in Perth for production and exploration samples from its Western Australia gold mining and exploration projects and is facilitating priority access for New Found to the Intertek facilities under Novo’s arrangement with Intertek.

The company is planning to send the first shipment of Queensway drill core from Gander this coming week, including intervals from recent drilling that were previously designated for conventional assay on a “rush basis”, the company said. Assay results from these samples are anticipated to be received and reported in the coming weeks.

Intertek’s assay facilities in Perth are used by a broad spectrum of gold mining and exploration companies and it operates two Chrysos PhotonAssay instruments at its Perth laboratory with a third to be installed shortly.

New Found is advancing towards an agreement with MSALABS for 20,000 assays per month at a new facility MSALABS anticipate commissioning shortly in Val d’Or, Quebec, and is also working with MSALABS towards an agreement for the installation of a Chrysos PhotonAssay unit in Gander, in Newfoundland, in 2022.

The use of the Intertek facilities in Perth will allow the company to immediately proceed with leveraging the Chrysos PhotonAssay for the assay of drill core currently being produced at Queensway. This assay work would transition to the MSALABS facility in Val d’Or, Quebec, once capacity there is available to the company.

The Chrysos PhotonAssay method is non-destructive and New Found’s QA/QC program will include fire assay/metallic screening of sample material post photon assay for comparison of the results.

Melissa Render, VP Exploration of New Found, said: “With the current large backlog of samples and resulting slow turnaround times for conventional assaying in North America, even with the additional transport time required to ship samples to Perth, we believe that proceeding with Chrysos PhotonAssay analysis at these facilities in Perth will significantly shorten our turnaround time on assays. This will provide faster receipt of critical information to our exploration team and will allow more timely disclosure of drill results to the market.

“Recognising the nuggety nature of gold mineralisation at Queensway, the use of non-destructive, Chrysos PhotonAssay method on whole-core samples will contribute significantly to optimising the accuracy of our assay results. The Chrysos PhotonAssay method is rapidly gaining industry wide acceptance. Barrick, in partnership with MSALABS, recently installed a Chrysos PhotonAssay unit at its Bulyanhulu Mine in Tanzania, and Kirkland Lake Gold recently installed a unit at its Fosterville Mine in Victoria State, Australia. We are very excited to be moving ahead and implementing the Chrysos PhotonAssay assay process for our Queensway Project and we look forward to reporting our first assay results from recent drilling in the next several weeks.”

Chrysos PhotonAssay lab up and running at Barrick’s Bulyanhulu

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Barrick Gold, in partnership with MSALABS Ltd, has successfully installed a Chrysos PhotonAssay™ laboratory at its Bulyanhulu mine in Tanzania – the first in Africa and in its global operations.

This new technique, Chrysos says, delivers faster, safer and more accurate analysis of gold, silver and complementary elements by non-destructive measurement of larger and more representative samples in as little as two minutes, enabling rapid turnaround of critical operational information that drives optimisation throughout the mining value chain.

The system, originally developed at Australia’s national science agency, CSIRO, provides an environmentally friendly, chemical-free, more sustainable replacement for traditional fire assay methods, significantly reducing CO2 emissions and hazardous waste, according to Barrick.

Introducing the new system to media at the mine, Barrick President and Chief Executive Mark Bristow said it was part of the group’s continuing drive to harness technological innovation in the service of operational excellence, occupational safety and environmental care.

Bulyanhulu is in northwest Tanzania and is a narrow-vein gold mine containing gold, silver and copper mineralisation in sulphides.

The unit, which is also the company’s first deployment directly to a mine site, is part of a collaboration with MSALABS, a subsidiary of Capital Ltd, which will see at least seven Chrysos PhotonAssay units installed across the globe over the next 18 months, Chrysos says.

Dirk Treasure, Chrysos Corporation Chief Executive, said: “We are confident that PhotonAssay’s faster, safer and environmentally-friendly process not only aligns with Barrick’s focus on operational excellence through technology adoption, but also reflects and enhances its global reputation as a leader in sustainable mining and exploration.”

He added: “Our ambitious plan is to deploy 80 PhotonAssay units over the next five years. At that point, with each unit capable of processing up to 480,000 samples per annum, we will be helping our customers reduce CO2 emissions by an estimated 18,000 t and decrease hazardous waste by approximately 12,000 t every year.”

The company anticipates further acceleration of demand over the coming years in a worldwide market with room for approximately 350 units.

Chrysos Corp raises A$50 million to fund PhotonAssay tech expansion drive

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Australia-based Chrysos Corporation has successfully completed an equity placement, raising A$50 million ($37 million) of funds to, it says, meet accelerating demand for its PhotonAssay™ technology from miners, explorers and laboratories across the globe.

The technology is billed as being able to displace slower, more hazardous and toxic assay processes. It delivers faster, safer, more accurate and environmentally friendly analysis of gold, silver and complementary elements in as little as two minutes, according to the company.

Dirk Treasure, Chrysos Chief Executive Officer, said: “We are delighted with the support we’ve received from investors as we enter this exciting phase of our expansion strategy. Through effective planning and execution, we have built a long runway of sustainable growth and are well positioned to realise PhotonAssay’s immense potential in this attractive and progressive market.”

Chrysos says it has entered a transformative stage with the PhotonAssay technology already deployed and in-use with industry leaders, including the world’s third largest laboratory group, Intertek, geochemical laboratory services provider, MSALABS, and top-tier miners including Barrick and Kirkland Lake Gold.

The company maintains a strong sales pipeline and has contracts secured for a further nine units, which represents 150% growth on its current deployments and locking in its manufacturing capacity for the next 12 months, it said. This will bring the total number of deployed and committed PhotonAssay units to 15.

Chrysos anticipates accelerating demand over the coming years in a worldwide market with room for approximately 350 units.

Treasure added: “Our ambitious plan is to deploy 80 PhotonAssay units over the next five years. At that point, with each unit capable of processing up to 480,000 samples per annum, we will be helping our customers reduce CO2 emissions by an estimated 18,000 t and decrease hazardous waste by approximately 12,000 t every year.”

PhotonAssay units are leased to mines and analytical laboratories under long-term renewable contracts, with customers paying per sample processed. As a non-discretionary element of the mining value chain, the technology offers an attractive operating expenditure model for customers and delivers a high margin, long-life annuity revenue stream back to Chrysos.

Chrysos’ PhotonAssay technology was originally conceived at Australia’s national science agency, CSIRO, which remains a significant shareholder.

PhotonAssay tech set for Western Africa debut with MSALABS agreement at Morila

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Chrysos’ PhotonAssay technology is set to make a debut in the Western Africa market after Capital Ltd’s MSALABS signed a provisional five-year agreement with Societe Des Mines De Morila SA at the Morila gold mine in Mali.

The mine, which has an existing drilling contract with Capital Ltd, is 80%-owned by Firefinch. The ASX-listed company acquired the mine in November 2020 with the view to increase production at the 4.5 Mt/y mill from a current annual production profile of 40,000 oz/y of gold from tailings treatment, towards a target of 70,000-90,000 oz/y of gold through mining of small open pits, stocks and tailings from mid-2021. In 2022, Firefinch plans to increase production to 150,000-200,000 oz/y by re-commencing mining from the main Morila pit.

The contract, which remains subject to final terms and conditions, could see the first PhotonAssay arrive on site before the end of the year. This would be the first Chrysos unit to be deployed in Western Africa, according to Capital.

This news came out in the release of the company’s interim results, which outlined a 51.6% year-on-year boost in revenue to $98.7 million and a 238.6% boost in adjusted profit to $12.7 million.

MSALABS also has a PhotonAssay contract in place with Barrick Gold at the Bulyanhulu mine in Tanzania, which could see the deployment of at least six PhotonAssay units.

Capital said the initial Chrysos unit had arrived in Tanzania and was in transit to the Bulyanhulu laboratory, with commissioning anticipated imminently, with the Chrysos team now on site.

An additional Chrysos unit secured for Canada was scheduled for arrival in Val d’Or, Quebec, in the December quarter, representing an expansion of MSALABS’ presence in the country and entry into the prolific Abitibi Belt. Capital Ltd said offtake discussions are well advanced for the unit’s capacity.

Capital Ltd Executive Chairman, Jamie Boyton, said of the Photon Assay tech: “Chrysos has the potential to disrupt the geochemical analysis sector and we are encouraged by the demand we see as we prepare to roll out the second unit in Val d’Or in Quebec, Canada, in the December quarter of this year, and the third at Morila in Mali soon thereafter.”

Driven in part by increasing industry focus on safety, sustainability and sample turnaround time, Chrysos PhotonAssay is competing with the centuries-old fire assay process in the gold assaying market. Chrysos says the technology, which originated out of a CSIRO project, is fast taking over fire assay to be the preferred technology of miners and laboratories seeking a solution to the supply chain and environmental challenges created by traditional gold assaying methods.

Hitting samples with high-energy X-rays, PhotonAssay causes excitation of atomic nuclei allowing enhanced analysis of gold, silver and complementary elements in as little as two minutes, Chrysos claims. Importantly, the non-destructive process allows large samples of up to 500 g to be measured and provides a “true” bulk reading independent of the chemical or physical form of the sample.

Chrysos Corp’s PhotonAssay tech hits major milestone

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Chrysos Corp has announced that its ground-breaking PhotonAssay technology has now assayed over one million customer samples.

The milestone comes amid accelerating demand for the technology, which has seen the number of samples analysed more than triple in the last six months, the Australia-based company said.

Driven in part by increasing industry focus on safety, sustainability, and sample turnaround time, Chrysos PhotonAssay is competing with the centuries-old fire assay process in the gold assaying market. Chrysos says the technology, which originated out of a CSIRO project, is fast taking over fire assay to be the preferred technology of miners and laboratories seeking a solution to the supply chain and environmental challenges created by traditional gold assaying methods.

Chrysos CEO, Dirk Treasure, explained, “Demand for PhotonAssay has grown over the last year and further accelerated in the last six months as more miners and laboratories have reached the conclusion, through their own due diligence, that PhotonAssay not just meets and exceeds their accuracy and cost requirements, but also overcomes the speed, safety, and environmental challenges inherent in fire assay.”

Recently, Chrysos and Intertek declared a deal to install two PhotonAssay units at Intertek’s new Minerals Global Centre of Excellence in Perth, Western Australia. Chrysos also announced a partnership with MSALABS, a subsidiary of Capital Ltd, to deploy at least six PhotonAssay units across the globe over an 18-month period. Prior to that, the company signed a deal enabling Kirkland Lake Gold to use PhotonAssay for its Fosterville Mine in Bendigo, Victoria.

Hitting samples with high-energy X-rays, PhotonAssay causes excitation of atomic nuclei allowing enhanced analysis of gold, silver and complementary elements in as little as two minutes, Chrysos claims. Importantly, the non-destructive process allows large samples of up to 500 g to be measured and provides a “true” bulk reading independent of the chemical or physical form of the sample.

“The significance of the technology’s ability to analyse large sample sizes is underlined by Novo Resources’ recent announcement that it has signed a multi-year deal for priority access to the two new PhotonAssay units being installed at Intertek’s Centre of Excellence,” Chrysos said. “In finalising the agreement, Novo signalled its belief that PhotonAssay is the ideal technique for analysing the nuggety gold mineralisation at its Beatons Creek operation in Western Australia.”

Dr James Tickner, Chrysos Corp Co-founder and Chief Technology Officer, agreed: “Accurate assaying for coarse gold has always been a challenge, and it’s on difficult deposits where the much larger sample mass of PhotonAssay really delivers. It’s great to see industry recognising this, with Novo Resources committing to run at least 20,000 samples per month through each unit at Intertek’s brand-new facility in Perth. The two PhotonAssay units we’ve just commissioned there will really help Intertek deliver faster, cleaner and more accurate results, not just for Novo, but its other customers as well.”

Another factor driving fast adoption of the technology is Chrysos’ commercial and operating model whereby the company leases, rather than sells, its PhotonAssay units to customers, the company says. This approach not only minimises expenditure by relieving the customer of capital expenditure charges and any service, delivery and maintenance fees, but also reduces ongoing staffing, training and related occupational health, safety and environmental costs.

In return, the leasing model facilitates a recurring revenue stream for Chrysos, which the company has used for research and development and the overall broadening of applicability and accessibility of PhotonAssay for wet samples and other metals such as silver and copper, it says.

Reviewing recent successes and foreshadowing upcoming events, Treasure summarised, “Even with more than A$80 million ($62 million) in contracted revenue and 14 PhotonAssay units either in-use or committed, we remain focused on executing our smart, sustainable growth plans. Market feedback indicates that our disruptive technology is helping customers achieve faster, safer and cleaner business outcomes ‒ and that is the type of value creation Chrysos finds compelling.

“Ultimately, we want our customers, shareholders and community stakeholders to feel as much pride using and engaging with PhotonAssay, as we do when we create and deliver it across the globe.”