Source - Alliance News

Tribe Technology PLC on Thursday said it forecasts the factory completion of its first generation automonous TTDS d700 GC drill rig to be completed in the first quarter of 2024, later than expected.

The Belfast-based developer and manufacturer of autonomous mining equipment said that significant progress has been made on the rig, but that delivery has been delayed due to unforeseen technical issues in the final product integration stages.

The firm had previously expected the drill rig to be completed in the fourth quarter of 2023.

Tribe noted that it is looking to mitigate technical integration risks, and is undertaking further testing and commissioning at the site before shipment takes place.

Delivery of the system is now anticipated to take place in the second quarter.

Chief Executive Charlie King said: ‘The autonomous drill rig is a step change and one of the largest innovations in our industry. Although the company has experienced some technical challenges during the system integration stage we have deployed additional resources and conducting are extensive product testing, which gives us a higher level of confidence as we close in on completion of this development project.

‘I am pleased with the technical progress the team has made towards the completion of our first generation autonomous drill rig.’

Tribe Technology shares were untraded at 9.50 pence each on Thursday morning in London.

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