Business
Windfall Geotek: Chairman's Update
DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN Highlights: Progress to an asset based model is well underway $20B in commodities will be requir
About this update from Windfall Geotek Inc.
[{"type":"text","content":"DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN Highlights: Progress to an asset based model is well underway $20B in commodities will be required to meet the needs of the electrification trend Windfall is well positioned through our Digital Exploration technologies, strong asset base, and data products to work with exploration companies to take advantage of this growth cycle. Brossard, Quebec - The Newswire - April 14th, 2021 - Windfall Geotek Inc. (the “Company”, or “Windfall”) (TSXV:WIN) (OTC:WINKF) (FSE:L7C2) Dear Shareholders, I am pleased to initiate my quarterly letter to shareholders as Chairman of the board of directors and interim CEO of Windfall Geotek Inc. (“Windfall”). It has been roughly 60 days since we began in earnest our transition towards a new asset driven model built on technology and partnership. The purpose of this go to market model is that it commits to putting Windfall shareholder returns first. We are entering an exciting new chapter where our revenues and valuation are expected to be tied to future free cash flows and asset returns as opposed to professional services. In this period, we have been tirelessly executing on the incredible opportunity in front of us as one of the few publicly traded companies with over a decade of validated AI based discoveries in the exploration market. Electrification Opportunity ahead The shift into renewable energy has increased the demand for battery metals to $20.5 billion by 20271 from $11.3 billion in 2019. As the demand increases, one of the key factors to enable the EV future will be the creation of new environmentally sustainable mines. Currently, the mineral discovery process is high risk, with a low probability of success. Windfall possesses a key, proven tool in this process that lowers the risk and increases the chances of success: Big data and AI. With one of the biggest changing tides we’ve seen in transportation, Windfall is well positioned to be a key player in the market by identifying targets that lead to the future supply of base metals. Key Priorities My priorities since assuming the interim CEO position have been tied to three value building initiatives: 1. Strengthen our technology through cloud and world class engineering partnerships and experts. 2. Identify and prepare a strategy to monetize the extensive m...