RocketDNA terminates contract with Calidus Resources subsidiary

RocketDNA Ltd (ASX: $RKT) has announced the termination of its contract with Keras (Pilbara) Gold Pty Ltd, a subsidiary of Calidus Resources Limited (ASX: $CAI). The decision follows the appointment of Receivers and Managers to Calidus Resources Limited and its subsidiaries, including Keras (Pilbara) Gold Pty Ltd.

Executive Commentary on Contract Termination

RocketDNA has learned through the media that KordaMentha have placed the Warrawoona gold project into care and maintenance, leading to the decision to terminate the contract with Calidus Resources subsidiary. The company's exposure for unpaid invoices for services provided to Calidus prior to 28 June 2024 is preliminarily assessed to be less than $40,000.

Summary of RocketDNA's Contract Termination and Outlook

RocketDNA Ltd (ASX: $RKT) has terminated its contract with Calidus Resources subsidiary following the appointment of Receivers and Managers to Calidus Resources Limited and its subsidiaries. The company's exposure for unpaid invoices for services provided to Calidus prior to 28 June 2024 is preliminarily assessed to be less than $40,000. RocketDNA's operations are focused on Australia and Africa, providing aerial surveying and mapping, security and surveillance, and blast monitoring and fragment analysis services. The company's key customer contracts include tier 1 and tier 2 miners, South32, Newmont Mining, Red 5, and Seriti Coal. RocketDNA's decision to terminate the contract aligns with its commitment to delivering high-quality services and maintaining its operational integrity. The company remains focused on providing innovative drone-based data service and technology solutions for the mining, agricultural, and engineering industries, with a strong emphasis on multi-year recurring revenue contracts and short projects with potential for recurrence.