- 29 October 2021 16:17
Delta Drone International shares rally on back of record quarter
Shares in drone based data systems provider, Delta Drone International Limited (ASX: DLT) increased 3 per cent in early trade today as the company reported a record quarter.
The multi-national drone-based data service and technology solutions provider for the mining, agricultural and engineering industries increased receipts from customers by 7 per cent to A$1.42 million during the September quarter.
Results were driven by contracts with multinational enterprise mining companies, BarrickGold (Holdings) Limited, Anglo American Platinum Limited subsidiary, Rustenberg Platinum Mines Limited and Corteva Agriscience RSA subsidiary, Pioneer SeedRSA, as well as the acquisition of Arvista Pty Ltd.
Delta Drone International CEO Christopher Clark said, “This quarter has seen our expansion strategy in Australia start to take form, with the acquisition of 60 per cent of the shares in aerial and terrestrial surveying services provider, Arvista. We now have a highly skilled local team as part of Delta Drone International and I couldn’t be more pleased with the calibre of customers we are now working with in Australia. While it’s still early days, with Arvista only commencing trading as a DLT subsidiary as of 1 September, I look forward to closing out 2021 and entering 2022 with a fully operational and growing presence in Australia.
“Our international operations continue to flourish, again signing contracts with renowned enterprise companies, Barrick Gold (Holdings) Limited, Anglo American Platinum Limited subsidiary, Rustenberg Platinum Mines Limited, and Corteva Agriscience RSA (Pty) Ltd subsidiary, Pioneer Seed RSA. The faith our enterprise customers place in us to deliver the data they need, is a testament to our unique ‘drones-as-a-service’ model and the value it provides.
“We continue to expand our footprint in Africa, entering both Mali and Niger to examine mining site expansion options. In addition, our agriculture & renewable-energy specialist brand, RocketFarm, has delivered a completely tailored data solution for a concentrated solar power (CSP) plant survey, which saw the team successfully re-train the thermal AI detection formula which was previously used on Photovoltaic (PV) plants, to identify leaks and energy loss.
“I am also pleased to report that Delta Drone International has ranked fourth in the Drone Industry Insights (Droneii) Top Drone Service Providers for 2021 Report. This report ranks the top drone service providers in the world using company size, market share, and public attention as key parameters. To be ranked fourth in the world less than a year as a company shows our strategy to become the leading drone service provider, globally is delivering.”
In providing an outlook Mr Clark added, “Delta Drone International is on its way to becoming the becoming the leading drones-as-a-service provider in Australia. The Australian expansion is supported by DLT’s highly successful operations overseas and the continued signing of big-name enterprise customers. We will continue to provide our industry leading services in the mining and agriculture sectors as we look to expand past these industries and into others, that can benefit from the range of ways we can capture data to enhance business operations.”