Governance player seeks funds

TECHNOLOGY start up Resource Governance International has launched a $A3 million capital raising to help fund international growth.

Noel Dyson

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.

That product was initially created for AngloGold Ashanti to address Sarbanes Oxley compliance on the New York Stock Exchange.

It has undergone continuous development over the past eight years and is operating at more than 170 sites across 20 countries.

While initially focused on the mining sector, RGI managing director Nick 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,” he said.

“We have looked into applying the RCubed technology to the oil and gas sector and, because of RCubed’s flexibility, will be focusing 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 that will make public reporting of information easier, as well as give it more credibility.”

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,” he said.

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 was also successful in recruiting experts in the governance field, including Matt Mullins who was recently BHP Billiton group productivity project lead.

Nicholas Ong also joined the company recently. He was a principal advisor at the Australian Securities Exchange, overseeing the listings of more than 100 companies.

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