K2fly Limited announced the launch of its updated Resource Governance Platform which is already used extensively for Mineral Resource and Reserve reporting by public companies globally. In its new form the platform can now be used to address multiple resource governance use cases such as Tailings governance, heritage, ground disturbance and rehabilitation. In addition, K2fly will collaborate with provider of global software and hardware services to the mining industry, Maptek, integrating with its Vulcan software.

The new Mineral Resource Governance Platform is due to be released in December quarter 2022. The Platform is a new cloud first solution which leverages the experience gained across K2fly's extensive Tier 1 and Tier 2 global customer base. K2fly Resource Reporting: The first available solution on the new Platform will replace the globally successful RCubed software (being the original underlying software product name used by existing customers).

It will provide existing and new customers with strengthened scale and improved workflow capabilities. This is supported by new additional complementary modules K2fly Model Manager and K2fly Mine Reconciliation. These solutions are the world's first and only Commercial off the Shelf (COTS) comprehensive Resource Reporting Solution used for public disclosures.

The new solution will be available for customers to upgrade to during Fiscal Year 2023. The core of K2fly's Mineral Resource Governance solution area allows companies to confidently report and disclose mineral resource and reserve (MRR) data that is compliant with the codes and regulations of the jurisdictions in which they operate and the stock exchanges they are listed on. Reporting of Resources and Reserves is a compulsory disclosure required of listed mining companies globally and is a cornerstone to any mining companies' valuation.

Benefits of K2fly Resource Reporting are strengthening of governance outcomes for clients by reducing errors and person dependency risk within an organisation, generating an audit trail and significantly improved workflows creating ease to capture raw data, capability to track data ownership and accurately adhere to reporting requirements. New features will include performance improvements and a new data model, making it easier to access more data and address more industry use cases. There are additional improvements to the system and reporting and analytics functions.

The solution will include interactive reporting, new workflows, and simplified configuration. K2fly Maptek Collaboration; K2fly and Maptek are working together to connect Vulcan (supplying modelling input data) and the Resource Reporting Solution. As such, data generated in Maptek Vulcan can be seamlessly uploaded to solutions avoiding the need to manually handle text files and strengthening the governance from Vulcan geological block models to the reporting process in K2fly Resource Reporting.

Vulcan will be integrated with K2fly Resource Reporting in the December quarter of 2022. Vulcan 3D geological modelling and mine design software now has more than 22,000 users worldwide. It is supported by specialist tools for visualising, validating, and modelling data to enable analysis and support decisions.