Brian Miller

Emerging tech player, K2fly, has inked a lucrative $1.45 million contract with mining heavyweight, Rio Tinto, for its innovative software technology. The small cap listed company will now roll out its specialist “RCubed” mineral resource governance software across 20 Rio sites around the globe. K2Fly’s RCubed software is an innovative peice of mining technology that manages the most valuable of a client’s primary assets – its mineral resources.

ASX-listed K2fly management has smashed its year 2 recurrent revenue targets just 9 months after picking up its “RCubed” mining software business for around $450k plus some delayed payments on the back of revenue targets being achieved. The rapidly growing ASX-listed software company said this week that its annual recurrent revenues have now hit $1.83m, representing a spectacular 247% compound annual growth rate.

ASX-listed mining “software-as-a-service” provider, K2fly, has defied the financial fallout of the global coronavirus pandemic as its RCubed mineral resource and reserve reporting software solution continues to attract more resources big hitters. The latest multinational group to take up K2fly’s mineral resource governance software package is French-headquartered nuclear energy giant, Orano, who has signed a five-year contract with K2fly that has a total value of A$300,000.

ASX-listed K2fly continues to build momentum with the "software-as-a-service" company’s invoicing building to in excess of $1.64m across the first quarter of the financial year, up 15 per cent on the previous corresponding quarter. The company is riding high on the back of a stream of new client signings seeking access to K2fly’s specialised land management and mining software.

K2fly is on the acquisition trail, this week picking up fellow “software as a service” specialist, SATEVA. The company is building a strategic position in the resource’s software space and this week’s acquisition looks like it may come with bottom line and client sharing synergies. Both companies already enjoy tier one client relationships with goliath sized companies and the opportunity to cross sell software looks real.

K2fly has wasted no time integrating with fellow software as a service provider, SATEVA, following the purchase of the mining software developer in late October. The company has hit the ground running, releasing a new software package named Model Manager to complement its own core offering, the RCubed mining resource and reserve reporting software.

ASX-listed K2fly’s timing in buying the SATEVA software service business, which caters for iron ore producers, when the iron ore price is flying high has been exquisite with the expanded group already having snared $850,000 worth of new purchase orders from major iron ore mining houses.

K2fly has partnered with Griffith University and The Keeping Place to deliver a new cultural heritage management system designed to map ancient indigenous rock art. Spanning Cape York Peninsula’s enormous Laura Sandstone Basin, the region hosts one of the richest bodies of rock art in Australia. The joint project aims to record the rock art for future generations and help provide a framework for its sustainable management.

Mining software as a service provider, K2fly has reported some strong results in its March-2021 quarterly report, including a record $2.06m in quarterly invoicing, up 27 per cent on the corresponding quarter in the 2019/20 financial year. K2fly’s total contract value for its software as a service offering in the March quarter is also up a staggering 146 per cent on the same quarter last year after it hit $9.13m for the quarter.

ASX-listed mining software-as-a-service provider, K2fly has wasted no time picking up contracts since its acquisition of the Decipher for Mining business from Wesfarmers subsidiary, CSBP earlier this year. Decipher recently secured a three-year, $250,000 contract with Evolution Mining for the implementation of a tailings storage software system at its Lake Cowal open-cut gold mine in NSW.

ASX-listed mining technology company K2fly has signed a A$1.455 million contract extension with Australian iron ore major Fortescue Metals Group, which will widen the use of the supplier’s innovative land management software into Europe and South America.

Australian mining technology company K2fly has wrapped up its second major contract with a leading global iron ore producer this month, closing a A$2.44 million deal that extends its long-term partnership with the expanding Roy Hill operation in WA’s Pilbara region. The new five-year Roy Hill contract follows hard on the heels of last week’s international pact with Fortescue Metals Group.

ASX-listed mining technology company K2fly has turned in its first $1 million invoicing month and maiden $2 million quarter as industry demand for vital environmental, social and governance decision-making information continues to climb. A new sales deal with a US-based geospatial data specialist is expected to add to the Australian company’s prospects in a key growth market.

ASX-listed mining technology company K2fly has laid out plans for an executive changing of the guard with Chief Commercial Officer and veteran industry leader Nic Pollock to take the helm as Chief Executive Officer from the start of September this year. Current CEO Brian Miller says he remains committed to the company and will continue as an Executive Director.