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Montreal and Santiago, October 1, 2012- Continuing its development strategy, Photonic Knowledge Inc. of Rosemere has just concluded negotiations for its first international contract, which will bring great visibility in Latin America to its spectacular technological breakthrough, the Core Mapper™, which enables the detection and logging of mineral deposits in drill cores, using light.
The President of Photonic Knowledge, Éric Roberge, announced today that the company has opened an office in Chile’s capital, Santiago, where business delegate Mrs. Marie Mazerolle, with two other colleagues as of 2013, will ensure the once ad hoc mandate’s continuity on a more permanent basis; it had already been underway for number of months under Mrs. Mazerolle’s management.
SETTING UP THE MOBILE LABORATORY
As part of the effort, Photonic Knowledge is finalizing the implementation of the first mobile laboratory, called Core Mapper™, which should be fully operational by mid-October, and will be put to work meeting the needs of a first Chilean client: a major mining company with hundreds of thousands of meters of drill cores to be analyzed, with more coming on a recurrent basis. This represents an extraordinary potential for development, as the Chilean market alone is ten times the size of the local Quebec average.
For the company, this market is very important; the mining industry accounts for approximately 25% of Chile’s $157B GDP. In 2010, 10 private mining firms alone generated some $4.4B in contributions to the government’s coffers, affirming the industry’s importance to the national economy. The dramatic change in the price of metals including copper and gold has significantly contributed to the country’s economic growth, which is certainly a key target for Photonic Knowledge’s development.
A FIRST CONTRACT
A first contract, for which confidentiality is still required for the client’s own strategic reasons and corporate policies, was awarded to the Quebecois company by a large world-class mining firm.
For Photonic Knowledge, expectations are high in this country, which is the world’s largest copper exporter, having 25% of the planet’s mineral deposits for the metal, and 36% of total global production.
“Chile is one of the world’s most promising places for the commercialization of the Core Mapper™ technology, and for the PK-LOGGER software. They will simplify and facilitate data logging and drill core analysis for geologists in the country,” said Mr. Roberge, who also pointed out that the PK-LOGGER allows geologists to clearly see drill core data visualized on tables, and thus constitutes a major advancement in the worldwide mining exploration industry.
The President and CEO concluded by saying that Photonic Knowledge will not hesitate to open other mobile laboratories in Chile as new contracts are awarded, and as the growing market expresses demand, which is clearly already the case.
