IMDEX Limited

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House rules


Paul House interview with Australia's Mining Monthly

The company spends about $20 million on research and development each year and CEO Paul House said what it was looking for fell into those three areas.

He said it also defined Imdex's acquisition approach.

House became CEO of Imdex on July 1, taking over from managing director Bernie Ridgeway who retired on 30 June after 20 years running the company.

During his time running Imdex Ridgeway did something in the order of 20 acquisitions.

The three technologies it most recently acquired are the Corevibe and Maghammer drill tools through buying New Zealand company Flexdrill and the Artificial Intelligence Spectral Infra-Red Interpretation System from its $8.5 million cash and scrip purchase of Ausspec.

So what is Imdex's technology approach likely to be under House?

By the sounds of things, not much different to what it has been over the past few years.

"For us it's about continuing to prosecute the strategy we've long articulated," House said.

It should be noted that House joined Imdex as CEO of its Reflex arm in 2017 and became its chief operating officer in 2018.

He has had a hand in developing that approach and prosecuting it.

House said it was all about getting hold of interesting technology.

"Ultimately what they are all trying to do is change the problem statement within the mining value chain," he said.

"If we can provide quality data further upstream in the decision-making process closer to real time, how does that change the decisions they would make? How would you change your decisions if you could have quality data in real time.

"When we look to where we're going to spend money on R&D and acquisitions its where have we moved the needle to and where can we move it to?"