RocketDNA (ASX: RKT), a drone technology services company, has secured an 18-month contract extension valued at $705,000 with Vault Minerals (ASX: VAU). The agreement ensures the continuation of integrated aerial data services at the King of the Hills gold operation in Western Australia. RocketDNA provides drone-based data and insights to various industries. Vault Minerals is an intermediate gold producer with operations in Australia and Canada.
The extended contract, between RocketDNA’s WA division and Vault subsidiary Greenstone Resources (WA), expands the existing agreement to incorporate RocketDNA’s xBot remote and fully-autonomous drone capabilities. It will also include automated data processing workflows. Vault plans to utilise this cutting-edge technology alongside RocketDNA’s proprietary SiteTube platform, with operational support provided both onsite and remotely from teams located in Perth and Adelaide.
Christopher Clark, RocketDNA’s chief executive officer, expressed his satisfaction with the contract extension. He stated that it reflects Vault’s confidence in RocketDNA’s service and marks a milestone in integrating remote autonomous operations into the daily mining workflows at King of the Hills. He also noted that King of the Hills has served as a proving ground for xBot hardware, and Vault has been an early adopter of the SiteTube platform.
The new contract is expected to generate annual recurring revenue (ARR) of $470,000.
