Tribe Technology plc (AIM:TRYB), the disruptive technology-first developer and manufacturer of world-class autonomous mining equipment that listed on AIM in 2023, has raised another £1.4m at 4.50p per new Ordinary Share to expedite its business strategy.

Charlie King, Chief executive, explains how the new funds will accelerate getting products in the field and help build the sales pipeline.

“We've secured two of the largest players in our industry as early adopters,” says King, “and we're talking to a lot more of the major tier one miners and contractors and have a lot of active tenders and opportunities. So, we look forward to getting more orders in and continuing our ramp up.”

In this interview, investors will learn:

- When the company’s first TTDS GC 700 autonomous drill rig is being shipped

- Why the equipment is the largest R&D project in the mining sector

- Which clients are adopting Tribe’s smart mining technology

- How the forward pipeline of orders for the company’s rigs is developing

- What skills Kirsty McShane, the company’s new Chief Financial Officer has

- How the company intends to commercialise more applications with its extensive IP portfolio

Reasons to add TRYB to your watchlist:

- Development of a world first 85 tonne autonomous drill rig, removing operators from the dangers involved in traditional manually operated RC drill rigs, while significantly improving productivity

- The company has developed a novel reverse circulation sampling system for use with the TTDS GC 700 drill rig

- The ‘smart mining market’ is expected to reach US$23.05 billion by 2028

- Forward order book for four rigs from a Toronto listed Tier 1 drilling contractor and one from an LSE listed Tier 1 mine operator secured in FY23

- The Company expects to recognise its maiden revenues from the sale of its first drill rig in 2H24

- Work is currently progressing on the second drill rig for Anglo American (AAL)