Tribe Technology PLC First autonomous RC drill rig video update

RNS Number : 2272V

Tribe Technology PLC

05 July 2024

 

 

5 July 2024

Tribe Technology PLC

 

("Tribe Tech", the "Company" or the "Group")

 

First autonomous RC drill rig video update

 

Tribe Technology PLC (AIM: TRYB), a disruptive technology-first developer and manufacturer of world-class autonomous mining equipment, is pleased to share a video of its first autonomous reverse circulation drill rig performing final software & function testing prior to shipping.

 

The Company has made significant progress following the completion of manufacturing of the first TTDS GC 700 drill rig (the "Drill Rig") and has already reached several milestones towards the shipment of the Drill Rig to our first customer.

 

This first product has been manufactured and sold to industry leading drilling contractor, Major Drilling Group International Inc ("Major Drilling"), for use at a tier 1 iron ore mining asset in Australia. The shipment of the Drill Rig is booked to Australia and remains on track for departure by the end of July 2024, with delivery by the end of September 2024 on target as stated in the Company's operational update.

 

 

The video of the Drill Rig can be viewed here.

 

Charlie King, Chief Executive Officer at Tribe Tech, commented:

"We are delighted to share this exciting development of the Drill Rig driving out of the factory. Our clients have been on site performing final inspections and we have now booked our sailing date to Major Drilling's subsidiary McKay Drilling in Australia. This marks a major step for the Company and we look forward to further developments with the manufacturing of our next drill rig for Anglo American, one of the world's major mining companies."

 

Marc Landry, Chief Technology Officer at Major Drilling, commented:

"Innovation is the cornerstone of our strategy at Major Drilling, and our commitment to being at the forefront of new technology is unwavering. Our approach is deliberate, ensuring that every technological advancement we adopt serves the best interests of our key customers.

 

"Our partnership with Tribe Tech is a testament to this commitment. We are not just early adopters; we are strategic pioneers, selectively deploying cutting-edge solutions that benefit those who invest in us. As the go-to drilling contractor for the industry's most innovative equipment manufacturers, we take pride in delivering value that goes beyond the drill bit, directly to our partners' operations. This is the ethos that Major Drilling stands by and champions every day."

 

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Engage with us by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor hub here: investorhub.tribetechgroup.com

 

Sign up to the Tribe Tech investor hub: investorhub.tribetechgroup.com/auth/signup

 

For further information, please visit www.tribetechgroup.com or contact:

 

Tribe Technology PLC	via Tavistock
Charlie King, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser and Broker)	[phone]
John Depasquale, Vivek Bhardwaj, Lauren Wright (Corporate Finance) Tony Quirke, Joscelin Pinnington (Sales & Corporate Broking)	[e-mail]
Tavistock (Financial PR)	[phone]
Rebecca Hislaire, Saskia Sizen	[e-mail]

About Tribe Tech

Established in 2019, Tribe Tech is an AIM listed company founded to create a safer, more efficient work environment through the development of fully autonomous RC Drill Rigs and sampling solutions for the mining industry.

 

Based in Northern Ireland and Western Australia, the Group's core activities are the development, in-house manufacturing, and sale of its autonomous RC Drill Rigs incorporating its core proprietary intellectual property, the Tribe Technology Drilling System ("TTDS").

 

In March 2024, the Company completed the build of the world's first autonomous RC Drill Rig following orders from Tier 1 mining companies.

 

Tribe Tech's market-leading technology will help to revolutionise the mining industry, enabling digitisation and intelligent insight through Artificial Intelligence (AI), dramatically improving safety outcomes and streamlining operations.

 

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