Can you update us on the latest news since we last spoke in 2023?

Core Case has been busy since last year, devoting much time and energy on the development of our proprietary technology. Specifically, we have been working on the GE system, which involves our conventional core case transport cases, which are now equipped with RFID and QR code tags. These tags allow us to track the cases from the field drilling site to the warehouse's final storage. We have developed a comprehensive communications campaign to promote this product and our other offerings. 

Can you give an overview of your product lines and any new additions? 

Our conventional products lineup consists of five product lines, all related to the storage and final preservation of drilling samples. We have the first-generation Case, where it all started, and the second-generation Case, our main product today. While our tracking technology can be used with other products, we are starting with the second-generation case as it is our main product. Besides these, we have the Chip Case, popular in Brazil for reverse circulation drilling. We also have a case developed in partnership with Vale for specific dimensions and characteristics they need and a product specifically for the oil and gas sector called the PetroCase. The second-generation case, equipped with tracking and tagging technology, is becoming our sixth line, the Smart Case.

Last year, you mentioned expansion plans in the Canadian market. Can you update us on this? 

Core Case has been very active in promoting our products across the Americas, and Canada is a key focus of this international expansion. We opened our first physical unit in April 2024 in Prince Edward Island. We are in the initial phase, much like we started in Brazil, focusing heavily on marketing and participating in events like PDAC. Many Canadian companies already know our product from using it in other countries like Brazil, Mexico, and Suriname, but now we want Canadian companies in Canada to know us as well.

We are also very active in Chile, with a support office and a partner company. In Ecuador, we also have a partner company. In Peru, we recently integrated a commercial representative from Lima into our team to help develop our presence there. We will participate in an upcoming trade fair in Lima with our representative. Canadians and Australians are very practical and use whatever is available, whether wood, metal, or plastic. In South America, there is a more robust environmental focus. Our recycled plastic boxes offer a sustainable alternative to timber, addressing deforestation issues. Our Canadian customers appreciate our products' organizational and safety benefits.

Can you discuss the importance of secure storage for mining companies? 

Companies spend millions of dollars on research and drilling yet often do not store samples properly. A drilling sample can be as valuable as a luxury apartment and can contain invaluable data, yet it is often stored haphazardly. Proper storage is crucial as these samples are kept for the lifetime of the mining company for audits and reviews. Our premium products ensures proper, safe, and environmentally friendly storage.

What are the major challenges that your product overcomes? 

One major challenge is avoiding contamination. Each slot in a sample box represents a meter of drilling, and any contamination between slots can result in inaccurate data. Using materials like cardboard or wood that deteriorate can increase contamination risks. For instance, if boxes break and fall over, valuable information worth millions could be lost. Proper storage is essential to maintain the integrity of these samples for future reanalysis, possibly years down the line when economic viability might change. Innovation is key. As a geologist, I focus on developing products that solve customer problems. Currently, we are working on two products: one for reverse circulation drilling to ease usage, and another to facilitate transport, especially in countries where aerial transport is needed. These products are in advanced stages of development, and we are working on patents and prototypes.

What are the main commercial priorities for Core Case next year? 

Our priority is to increase our international market presence. We aim to double our international revenue compared to last year. We want to replicate our success in Brazil in markets like Canada, leveraging our successful products and new technology-driven products like the Smart Case to achieve this.