Resource Governance International launches investment pitch

Technology start up Resource Governance International (RGI) has launched a capital raise as it seeks to step up its global presence.

Founded in 2014, RGI is focused on improving governance – namely the public reporting of mining company information – through the use of web-based technology.

The company has struck a deal with South African mining software company Specsoft to obtain the rights and intellectual property to its RCubed product.

RCubed was initially created specifically for AngloGold Ashanti to address Sarbanes Oxley (SOX) compliance on the NYSE. Over the past eight years it has been through continuous development and is now operating at more than 170 sites across 20 countries.

RGI has launched an investment pitch to raise $3 million, which will be used to further commercialise the RCubed product under the Resource Governance International brand and expand globally.

While initially focused on the mining sector, Managing Director Nic Pollock said the technology was equally applicable to the oil and gas market, which presented an opportunity five times the size of the mining sector.

“The need for improved governance is not only being felt by the mining sector – the oil and gas sector is similarly looking for solutions,” Mr Pollock said.

“We have looked into applying the RCubed technology to the oil and gas sector and, because of Rcubed’s flexibility, will be focussing on this sector in the near future.

“This is an exciting time for RGI as the resources sector as a whole is in dire need of technology which will make public reporting of information easier, as well as give it more credibility.

Mr Pollock said the foreshadowed wave of activity in the merger and acquisition space also presented a great opportunity for RGI.

“RCubed can help miners demonstrate the value of their assets to the market and provide confidence in the information, so it’s extremely valuable to all stakeholders involved in M&A – be they investors, consultants or regulators.”

Two of Specsoft’s original founders Jan de Kock and Chris Jones have joined RGI as Director of African Operations and Chief Technology Officer respectively.

RGI has also been successful in recruiting leading experts in the governance field including Matt Mullins who was most recently the Group Productivity Project Lead at BHP Billiton.

Nicholas Ong has also joined the company bringing seven years’ experience as a Principal Advisor at the ASX overseeing the listings of over 100 companies.