REG - Tribe Technology PLC - Tribe Tech ships its first autonomous RC Drill Rig

Tribe TechnologyAnnouncement

30/07/2024 07:00

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RNS Number : 2945Y  Tribe Technology PLC  30 July 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.

 

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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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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