Business
CEO of Windfall Geotek Recaps Q3 Results and Significant Milestones
Brossard, Quebec - The Newswire - February 4, 2020 - Windfall Geotek (TSXV:WIN) a mining and technology services company and leader in the use of Artificial Int
About this update from Windfall Geotek Inc.
[{"type":"text","content":"Brossard, Quebec - The Newswire - February 4, 2020 - Windfall Geotek (TSXV:WIN) a mining and technology services company and leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 in the mining sector, is pleased to report highlights for the 3rd quarter of its fiscal year 2019-2020 and its recent successes. It is with great pleasure that I announce the completion of our Q3 and recap the progress that we, at Windfall Geotek, have made during this period. Q3 was the first complete quarter of the execution of our strategy to partner with high potential mining companies in the digital exploration of their properties and projects. We have had massive interest in this business model that is cash neutral to Windfall shareholders but has resulted in the accumulation of assets valued in excess of $711,000 as of January 27, 2020 and contracts totaling $320,000.00. This represents the best quarter for new contracts in the history of the company. We expect this momentum to continue as we refine and expand our digital exploration strategies. In addition to our significant market traction for the CARDS AI-based digital exploration system, we were able to make significant progress in regard to our Chapais and Ashuanipi properties. With the filing of a new National Instrument 43-101 (NI43-101) technical report on the Chapais project and the reduction of claims from 298 to 115 on our Ashuanipi gold project, we expect to drive a reduction in costs and increase in returns for Windfall shareholders. There has also been significant progress on the intellectual property portfolio of the company. We rebranded the company as Windfall Geotek with the new ticker WIN and applied for the corresponding trademarks. This significant achievement will serve as a foundation to our efforts to share our business plan and business prospects with Canadian public markets and strategic investors. Lastly, we spent the quarter lining up business and technical partners to take advantage of the incredible opportunity that CARDS AI application brings to the detection of land mines and improvised explosive devices. Conservative estimates state that over $700,000,000 is spent annually by Armed Forces and NGO's to battle this horrible problem. As we progress on this exciting new front of the Windfall business, we are recruiti...