Shares in Aquirian were higher after the mining services company began an extended commercialised trial of its Collar Keeper drill and blast technology at a minesite in the Northern Goldfields.
Aquirian’s wholly-owned subsidiary TBS Mining Solutions is trialling the system a fleet of EpirocT45 drill rigs at the undisclosed minesite.
The Collar Keeper system removes the need for collar piping — a manual, time-consuming and expensive process used to stop drill holes from collapsing — and avoids the need for redrills.
The company has alredy generated more than $6.6 million in sales from the Collar Keeper product but is working on a system that will mechanise and eventually automate its use.
Aquirian’s executive director of business development and innovation, Greg Patching, said the trial marked a major milestone for the development and commercialisation of the system.
The company said TBS had also received strong interest from several overseas mining companies and received its first orders for a commercial trial in Zambia starting next month.
Aquirian, which also operates training, recruitment and explosives storage businesses, listed on the ASX in July last year after raising $8 million in a heavily oversubscribed initial public offering.
Its shares closed up 1.5¢, or 4.5 per cent, at 35¢ on Tuesday.