Tag Archives: Nic Pollock

Newmont to continue use of K2fly’s RCubed Resource Governance Solution

K2fly Ltd has announced that Newmont has signed a five-year extension to its existing contract for K2fly’s Resource Governance Software as a Service (SaaS) solution.

The extension agreement has a total contract value (TCV) of A$1.3 million ($951,289) and builds on the initial three-year agreement signed in March 2020, which came with a TCV of A$900,000. The agreement will extend the contract period to March 2028.

Newmont will continue to use K2fly’s RCubed Resource Governance Solution across 12 operating mines as well as joint ventures and projects across global operations as part of the agreement, K2fly says.

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, Chief Executive Officer of K2fly, said: “This extension of our original agreement from March 2020 with the world’s leading gold company reaffirms the importance of K2fly’s solutions in helping large resources organisations with their ESG reporting and aligns with Newmont’s purpose to create value and improve lives through sustainable and responsible mining.”

Decipher and K2fly team up for new tailings storage facility platform

Decipher, a Perth-based cloud monitoring platform for tailing storage facilities (TSFs), has partnered with K2fly, a global provider of technical assurance solutions for the resources industry, to evaluate an integrated monitoring and governance platform for tailings.

Tailing storage facility failures, in which there is an uncontrolled release of water, waste material or by-product, constitute a significant risk for industry, regulators and the environment. Industry best practice and legislation is requiring that an Independent Technical Review Board be assigned for each TSF to ensure proper governance and compliance, according to Decipher.

Decipher and K2Fly have come together to combine their complementary technology strengths to create a solution to help mining and resources companies in monitoring and governance of these risks, Decipher says.

Anthony Walker, Decipher Chief Executive Officer, said the resources industry is now looking for a solution that is cost effective, comprehensive and accessible.

“A recent report by KPMG identifies tailings management as one of the top 10 risks in 2020 to the global mining industry,” Walker said. “This is confirmation of the need for a timely solution which, together, Decipher and K2fly can provide.”

K2fly’s Chief Commercial Officer, Nic Pollock, said the proposed solution will ensure industry has access to a significantly better tool to aid monitoring and governance of TSFs to recognised standards.

“Our solution reflects best practice and will support compliance with the Global Industry Standard on Tailings Management recently endorsed by the International Council on Mining and Metals (ICMM), and other Global Tailings Review convenors, as well as standards set by national regulatory bodies,” Pollock said.

Decipher and K2fly have commenced discussions with several global miners about the proposed tailings management solution, which can also be deployed remotely during COVID-19.

There are an estimated 3,500 active TSFs globally, covering around 1 Mha of land, Decipher, a Wesfarmers company, said.

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

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

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

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

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.”

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

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.”