Tribe Tech ships its first autonomous RC Drill Rig
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.
30 July 2024
Tribe Technology PLC
("Tribe Tech", the "Company" or the "Group")
Tribe Tech ships its first autonomous RC Drill Rig
Tribe Technology PLC (AIM: TRYB), a disruptive technology-first developer and manufacturer of world-class autonomous mining equipment, is pleased to announce the shipment of its first autonomous reverse circulation ("RC") TTDS GC 700 drill rig (the "Drill Rig") from the manufacturing site in Belfast, Northern Ireland. This is a major milestone for the Company and is the culmination of significant engineering hours over the last four years, pioneering design and innovation along with extensive collaboration with our first customer. McKay Drilling (a subsidiary of Major Drilling Group International Inc ("Major Drilling")).
This first Drill Rig has been manufactured and sold to industry leading drilling contractor, Major Drilling, for use at a tier 1 iron ore mining asset in Australia. Delivery to Australia is on target for the end of September 2024 as stated in the Company's previous operational update. Following arrival in Australia, the Company will undertake validation of the Drill Rig in the field in conjunction with the customer during the fourth quarter of 2024.
Charlie King, Chief Executive Officer at Tribe Tech, commented:
"We are extremely pleased to have accomplished this major milestone of shipment from our factory in Northern Ireland of the first autonomous RC Drill Rig to Major Drilling's subsidiary McKay Drilling in Australia. We look forward to the demonstration of the operation of the Drill Rig in the field and this will be a tremendous platform for expanding our customer partnerships. I would like to thank McKay Drilling for the significant support in the development phase of this product and belief in the Company to deliver this first innovative Drill Rig."
Imagery by Colin Keys
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Tribe Technology PLC |
via Tavistock |
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Charlie King, Chief Executive Officer |
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Allenby Capital Limited (Nominated Adviser and Broker) |
+44 20 3328 5656 |
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John Depasquale, Vivek Bhardwaj, Lauren Wright (Corporate Finance) Tony Quirke, Joscelin Pinnington (Sales & Corporate Broking) |
info@allenbycapital.com |
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Tavistock (Financial PR) |
+44 20 7920 3150 |
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Rebecca Hislaire, Saskia Sizen |
tribetech@tavistock.co.uk |
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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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