REG - Tribe Technology PLC - Autonomous RC Drill Rig delivered to Australia

Tribe TechnologyAnnouncement

16/09/2024 07:00

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RNS Number : 2341E  Tribe Technology PLC  16 September 2024

 

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.

 

16 September 2024

Tribe Technology PLC

 

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

 

Tribe Tech's first autonomous RC Drill Rig successfully delivered to Australia

 

Tribe Technology PLC (AIM: TRYB), a disruptive technology-first developer and
manufacturer of world-class autonomous mining equipment, is pleased to
announce the arrival of its first autonomous reverse circulation ("RC") TTDS
GC 700 drill rig (the "Drill Rig") from the manufacturing site in Belfast,
Northern Ireland, to the Australian Automation & Robotics Precinct
("AARP") in Australia.

 

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. In line with the Company's announcement on 30 July 2024, the
Drill Rig arrived on schedule in Perth, Australia. The Company will now
undertake, in collaboration with the customer, additional system testing,
integration with the Tribe Tech autonomous sample system, development of the
software remote control systems and test drilling of holes at a depth of up to
60 metres at the AARP, located in Perth.

 

In line with the Company's contract with the customer, a stage payment invoice
has been issued and paid at this milestone.

 

Picture above of the Drill Rig in Australia with JR Davies (Vice President -
Australasia & Africa - Major Drilling), Marc Landry (Chief Technology
Officer - Major Drilling) and Bevan Eagle (Innovation & Technology
Development Superintendent, McKay Drilling)

 

Derek Loughlin Chief Technology Officer at Tribe Tech, commented:

"Our first Drill Rig has travelled by sea freight and successfully disembarked
from the Fremantle port and arrived today at the AARP facility in Perth. We
are extremely excited to carry out the next stage of integration testing
including the first operation of the Drill Rig with our autonomous sample
system and performing drilling operations for the first time within the AARP
environment."

 

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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 (https://investorhub.tribetechgroup.com)

 

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

 

For further information, please visit www.tribetechgroup.com
(http://www.tribetechgroup.com) or contact:

 

 Tribe Technology PLC                                                via Tavistock
 Charlie King, Chief Executive Officer

 Allenby Capital Limited (Nominated Adviser and Broker)              +44 20 3328 5656
 John Depasquale, Vivek Bhardwaj, Lauren Wright (Corporate Finance)  info@allenbycapital.com

 Tony Quirke, Joscelin Pinnington (Sales & Corporate Broking)

 Tavistock (Financial PR)                                            +44 20 7920 3150
 Rebecca Hislaire, Saskia Sizen                                      tribetech@tavistock.co.uk

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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