Minetec wins $1 million contract for deployment of underground tracking technologies

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COMPANY ANNOUNCEMENTS PLATFORM AUSTRALIAN SECURITIES EXCHANGE

Minetec, a wholly owned subsidiary of Codan Limited, has entered into a $1 million contract with PYBAR Mining Services Pty Ltd for the delivery of high precision tracking, visualisation and task management for the South Australian Carrapateena copper-gold exploration project. PYBAR was recently selected by OZ Minerals (ASX:OZL) for the construction of the 7.5 km decline and associated ground infrastructure.

PYBAR selected Minetec’s task-management system (SMARTS™) and WASP high precision tracking in order to manage the development of the decline. The Minetec solution allows underground miners to maximize productivity and safety by solving real world problems in real time.

This contract further validates Minetec’s strategy of targeting underground hard-rock mines with a unique technology platform providing enhanced tracking, safety and productivity.

The revenue will be realised during FY17.

On behalf of the Board

Michael Barton
Company Secretary