K2fly ‘kicking goals from all sides’ as it passes $1 million per month invoicing and set to hit more milestones

K2fly Ltd (ASX:K2F) is set to soar higher in the current financial year as it continues to see growth from all parts of its business, after hitting an important milestone of $1 million in its May 2021 invoicing.  The company, which saw its first-ever $2 million-plus invoicing in the third quarter, has been winning deals in the last few months for all of its solutions – land management and heritage, reserves reporting and SATEVA.  It believes its fourth-quarter total will comfortably exceed the third-quarter numbers, setting another record, after a slow second half due to the ‘COVID-lag’.  The imrpoved invoicing totals reflect the company’s ‘land & expand’ strategy, whereby it seeks to successfully deliver its range of software solutions to major resources companies.  The leading global provider of reporting software solutions now has more solutions, more clients and more staff to help grow the business, and in part, this reflects the successful integration of acquisitions such as SATEVA and Decipher.  Dams & Tailing solution K2fly chief commercial officer Nic Pollock said given the current need for miners to increase all of their ESG reporting, the time was right to expand K2fly’s portfolio of solutions. “Our success in building our Resource Inventory and governance solutions with global tier 1 and 2 clients has rapidly uncovered multiple further technical assurance needs of our customers, particularly in Tailings, Heritage and Rehabilitation as well as Land Access and Disturbance. “This is coinciding with higher levels of required reporting and compliance following the release of the Global Tailings Standard, plus the laser focus shareholders now have on ESG.” In August 2020, the new Global Industry Standard on Tailings Management was launched by the International Council on Mining and Metals (ICMM), the United Nations Environment Programme (UNEP) and the Principles for Responsible Investment (PRI) to prevent catastrophic failures and enhance the safety of tailings facilities globally. In December 2020, the Church of England Pensions’ Board and the Council on Ethics of the Swedish National Pension Funds wrote to over 350 mining companies on behalf of investors with $21 trillion in assets under management (AUM), asking them to confirm their support for the Standard and to set out a timeline for their intended compliance with it. When ICMM launched GITS alongside the UNEP and PRI, all ICMM member companies (28) committed that all tailings facilities with ‘extreme’ or ‘very high’ potential consequences will be in conformance with the Standard by August 2023, and all other facilities by August 2025. Resources companies are now required to be more transparent in their disclosure of tailings risk and insurers have been quick to lineup behind the new standards making insurance cover difficult to secure unless miners can demonstrate standards compliance. K2Fly’s cloud-based application combines regulatory compliance management, mining waste management, stakeholder engagement, environmental monitoring, and environmental management system into a single feature-rich package, with secure global access, to industry, regulators, designers and operators can share data and monitor facilities from anywhere in the world, at any time. No other TSF management solution brings together as many tailings and environmental monitoring components into a single, centralised repository. K2fly chief commercial officer Nic Pollock said:  “We have met with stakeholders from many mining companies that are awash with expensive data that they cannot adequately turn into intelligence. “Other mining companies have very little at all. All of them need to turn the multiple sources of data into useable and actionable intelligence, which is what the K2fly solution provides as well as supporting their path towards Global Industry Standard on Tailings Management (GISTM) compliance.” Reseller agreement with Descartes Labs K2fly’s partnership deal with Descartes Labs – a reseller agreement - will see the company bundle Descartes’ software as a service-based Deformation system with its own solutions to expand its offering. Descartes’ software aims to provide an integrated spatial intelligence solution for resources companies that analyse data from a range of satellite and ground-based sensors. Combined with K2fly’s Dams & Tailings solutions, the ASX-lister believes both companies can create products that help mining companies better manage their tailings facilities in support of their GISTM commitments. Descartes Labs head of mining & metals James Orsulak said: “The Descartes Labs Global Deformation Systems (GDS) is a first of its kind planetary-scale deformation model. “Leveraging our history in high-performance computing (HPC), geospatial data, and machine learning, we’ve created the world's first automated, low-cost subsidence and deformation system that can be deployed anywhere in the world at any scale.” “GDS is an ideal fit for the K2fly Dams & Tailings solution, where the deformation outputs can be operationalized and interpreted in the context of all available data. “We believe this will be the beginning of a long and successful partnership with Descartes Labs that will enable K2fly to deliver world-class remote sensing products and analytics workflows to the mining industry with seamless integration into dam management programs.” Both companies have joint bids on several advanced tailings opportunities with tier one and two global miners. Decipher acquisition K2fly has also made progress since the acquisition of Decipher for Mining from Wesfarmers Ltd (ASX:WES) in January 2021, bringing additional depth to K2fly’s growing solution suite in tailings and rehabilitation and extends K2fly's technical Five-year contract with Roy Hill  K2fly secured the first contract for its full Mining Technical Assurance suite from Roy Hill in May 2021 since acquiring the full suite of SATEVA applications in the December quarter of 2020. The five-year contract with Roy Hill, a world-class iron ore operation and the largest single ore mine in Australia, has a total contract value (TCV) of A$2.44 million. Roy Hill ships more than 60 million tonnes per annum of iron ore, with approval to move to 70 million tonnes per annum, and among the many benefits in adopting this suite of products will be an improvement in critical mine geology processes through automation - resulting in improved short-term scheduling and excavation of the ore body. In large-scale open-pit mines, such as Roy Hill, small improvements in grade recovery or excavation efficiency deliver significant additional value to the operator. New substantial shareholder Tribeca Investment Partners K2fly gained a new substantial holder in Sydney-based Tribeca Investment Partners Pty Ltd, which now holds more than 7.62 million shares for a 5.56% stake through the purchase of 6.8 million shares in the placement in April, together with eight separate on-market purchases in May. Product offerings K2Fly delivers a suite of solutions in governance and compliance, stakeholder engagement and permits and obligations services for clients covering: ➢ Land access ➢ Community and heritage ➢ Rehab ➢ Dams & tailings ➢ Resources inventory and mine geology systems ➢ Ground disturbance Underpinning its Software as a Service (SaaS) offering are its proprietary technologies: RCubed, Infoscope, the SATEVA Suite and Decipher.