Opportunity to Acquire a Developer and Manufacturer of Exploration Instrumentation and Monitoring Systems

Globaltech Corporation Pty Ltd (Administrators Appointed) (Globaltech)

The Administrators of Globaltech are seeking urgent expressions of interest for a going concern sale of the business and assets (in whole or in part) and/or recapitalisation by way of a Deed of Company Arrangement.

Globaltech is an developer and manufacturer of exploration instrumentation, analysis software, and real-time monitoring systems for global mining and exploration operations, based in Perth, WA.

Key Investment Features Include: 

• CY22 revenue of c.$8 million, and CY23 revenue of c.$3.5 million;
• Active fleet of downhole surveying and core orientation tools;
• Progressive log of drilling software for mining exploration industry;
• Key technologies include:
  • TruShot Digital – magnetic survey tool optimised for driller deployment;
  • TruShot View – analysis software platform that performs drilling data quality assurance, analysis and path visualisation;
  • TruSub – a measuring instrument that provides more accurate and real-time monitoring of drill parameters;
  • TruCore – orientation instrument that allows an orientation mark to be made without disassembling the drilling tool;
• 80 local and international patents with broad coverage of downhole drilling tool market;
• Judgement in favour of the company for patent infringement (currently unquantified damages amount); and
• Provider of downhole drilling instruments to large multi-national drilling services company, with ongoing service agreements for fleet.