REG - Tribe Technology PLC - First autonomous RC drill rig video update

Tribe TechnologyAnnouncement

05/07/2024 07:00

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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 (https://youtu.be/CRsJ6Zv4bi4) .

 

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 (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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