RocketDNA announces contract update

RocketDNA (ASX:RKT), a provider of AI and autonomous drone technology, has announced a contract update with Rustenburg Platinum Mines Limited, a subsidiary of Anglo American. The security services part of the contract will end due to Anglo American's business restructuring. However, the drone-based surveying services will continue, showcasing RocketDNA's key role in the company's operations.

RocketDNA's strategic focus and future outlook

RocketDNA has updated its contract with Rustenburg Platinum Mines, a subsidiary of Anglo American, following Anglo American's demerger. While the security services component will cease, the drone-based surveying will continue, which reflects its critical role. RocketDNA has realized 46% of the original contract value, with the remaining services focused on drone-based surveying. With an updated annual recurring revenue of A$0.367 million, RocketDNA remains positive about future opportunities with Anglo American's restructured entities. The company continues to focus on expanding its service offerings and securing future contracts, leveraging its expertise in AI and autonomous drones.

Executive insights on contract update

RocketDNA values its partnership with Anglo American and has contributed innovative drone solutions. The company will ensure a seamless transition during the notice period. RocketDNA is positioned for future opportunities with Anglo American's restructured entities.