- K2fly has announced that Nexa Resources is going to apply its RCubed software solution globally
- RCubed is a resource and reporting solution that reports codes such as JORC
- This solution will be use in 12 global sites and generate $170,000 in revenue for K2fly
- K2fly is up 6.25 per cent today with shares trading for 17 cents each
K2fly has announced that Nexa Resources is going to implement its RCubed Mineral Resource and Reserve software solution globally.
The solution will be implemented across 12 sites around the world and will begin immediately.
K2fly’s RCubed solution is a resource and reserve reporting solution that reports codes such as JORC, SAMREC (South African Mineral Resource Committee) and NI43101.
As with all of K2fly’s implementations, each operation and all relevant data is captured at base level and involves comprehensive data capturing and reporting.
The initial purchase order is for around $170,000 and includes annual software subscription and implementation fees for the first year.
“We are delighted to welcome Nexa Resources to the growing list of resource companies who will use RCubed to distinguish themselves in their market by the quality of their mineral resource governance and reporting to their shareholders and regulators,” Chief Commercial Officer Nic Pollock said.
“Nexa Resources is our first Brazilian based customer and adds to the growing list of customers, countries, commodities, codes and exchanges we support,” he added.
Nexa Resources is a mining and smelting company with primary focus on zinc and copper.
It operates five polymetallic mines — three of which are in the Central Andes of Peru and two in the state of Minas Gerais, Brazil. It also has integrated production facilities in both Brazil and Peru.
At the end of September 2019, K2fly’s two products, RCubed and Infoscope, will be deployed in more than 40 countries and across more than 200 sites.
This new contract further increases the strong ARR (annual reporting revenue) growth that K2fly is experiencing, which is up 29 per cent from Q4FY19 and 140 per cent CAGR (compound annual growth rate) over the last four quarters.
K2fly is up 6.25 per cent today with shares trading for 17 cents apiece at 2:23 pm AEDT.