The RPMGlobal Holdings Ltd (ASX: RUL) share price has dropped today despite the company announcing a new product. The mining software provider’s share price is currently trading 1.35% lower at a price of $1.09.
What’s new?
RPMGlobal introduced its newest integrated mine planning and scheduling product, Underground Potash Solution (UGPS). As the name suggests, it has been specifically tailored for the underground potash (potassium-bearing minerals or compounds) industry.
The product has been designed alongside a number of potash miners to address the unique challenges of their operations. It enables miners to utilise a single integrated mine planning and scheduling package. It can be used for design, reserving and scheduling (from strategic to short term).
RPMGlobal CEO Richard Mathews explained:
Unlike other 2D design tools on the market, UGPS undertakes detailed modelling of the potash deposit in 3D, creating a complete mathematical model of the mine. Moreover, users are able to import existing designs, create new designs or use a combination of both.”
Transition to SaaS
Midway through last week, RPMGlobal also announced the releasee of its first software-as-a-service (SaaS) offering. The product gives mining companies the capability to undertake haulage calculations in a cloud environment.
Importantly, the transition gives customers the flexibility to utilise multiple desktops. Under the new SaaS model, customers are able to write their own applications to interact with the program – Haulage as a Service (HaaS).
Moreover, the calculation engine enables users or customer applications to undertake travel time calculations on demand.
About the RPMGlobal share price
The RPMGlobal share price has dropped today despite the product launch.
The mining consulting company was listed on the ASX in 2008 and is involved in the provision and development of mining software solutions, advisory services and professional development to the mining industry.
RPM boasts history stretching back to 1968. The company has been trusted by mining companies of all sizes and commodities to support their growth.
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Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of RPMGlobal Holdings. The Motley Fool Australia has recommended RPMGlobal Holdings. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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