Whilst this is being used for the major copper miner (lets assume BHP) we didn't sell it to BHP but a consultant working for them, and presumably that consultant is fulfilling a specific task for BHP.
Positives for me from this announcement are:
Based on the description of the deployment, I'm assuming that if we are successful this contract could extend for the life of the tailings dam (ongoing monitoring of tailings deposition). So repeat future revenue.
Assuming the consultant tendered for the work with BHP, so they see value in our solution and included it as an offering. This creates the opportunity for the consultant to apply this for other clients completing similar tasks.
If the work was competitively tendered then our solution was preferred (maybe on price, or other factors such as the autonomous nature) by BHP, so we have a good offering in the market place.
BHP sees how this is good for this specific task and looks for opportunities to use our offering for other tasks at the same location or similar tasks at other mines.
Of course all my assumptions could be completely wrong, and I'm reading too many positives into the announcement.
Time will tell.
Happy days.
RKT Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
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