Rejoy Health secures $125 million funding to enhance AI healthcare solutions and achieve a $125 million valuation.
San Francisco, CA – Rejoy Health has secured funding at a valuation of $125 million to advance its AI technology for healthcare applications. Founded by former Facebook and Microsoft engineers Rituraj and Ritu Ranjna, Rejoy Health is dedicated to building AI to make medical knowledge more accessible and understandable. The company was launched in 2021 through Y Combinator under the guidance of Michael Seibel. Since its inception, Rejoy Health has consistently enhanced the performance of its AI models, making significant strides in the healthcare sector.
Rejoy Health has developed its own advanced large language models (LLMs) specifically for healthcare applications. These systems continuously scan recent research and online datasets, including extensive medical texts and research papers, to stay updated on new healthcare trends. By consistently training its models on this data, Rejoy Health ensures that its AI provides accurate and current information. Additionally, the platform ranks data based on the trustworthiness of its sources, enhancing the reliability of the information provided to users.
Rejoy Health’s large language models (LLMs) have achieved outstanding accuracy on the MedQA (USMLE) benchmark, even outperforming Med-PaLM 2, a highly esteemed model from Google and the latest models from OpenAI’s ChatGPT. MedQA is a dataset specifically designed to assess the capabilities of question-answering systems in the medical field, focusing on questions similar to those found in the United States Medical Licensing Examination (USMLE). This accomplishment highlights the exceptional reliability of Rejoy Health’s technology, ensuring that users receive precise and up-to-date healthcare information.
For instance, a physician might ask about the health risks associated with GLP-1 receptor agonists like Ozempic and Mounjaro and receive immediate answers. This capability allows healthcare professionals to tailor their questions to specific patient scenarios and ask follow-up questions as needed. Without this tool, doctors would need to spend considerable time searching through numerous papers and resources. Instead of sifting through information equivalent to a lengthy book chapter, they can now obtain answers in just 30 seconds, rather than 30 minutes.
On average, Rejoy Health’s technology saves healthcare professionals 14 hours per month. With an average hourly rate of $200 in the USA, this translates into significant cost savings for clinics and healthcare systems. Rejoy Health’s innovative solutions are now utilized by over 10,000 healthcare professionals from prestigious institutions such as Mayo Clinic, NewYork–Presbyterian Hospital, NYU Langone, and Stanford Medicine. This widespread adoption highlights the platform’s significant value in enhancing healthcare delivery and decision-making.
Recognizing its potential and traction, Rejoy Health has attracted the attention of prominent investors, including Y Combinator, Google, and the Harvard University endowment fund, which manages $54 billion. Additionally, undisclosed pharmaceutical and health insurance companies have shown interest. Recently, Rejoy Health raised funding at a valuation of $125 million. This funding will be used to hire AI engineers and expand clusters of GPUs to further enhance its AI models, aiming to make quality and accurate healthcare information accessible to everyone.
Rejoy Health secures $125 million funding to enhance AI healthcare solutions and achieve a $125 million valuation.
San Francisco, CA – Rejoy Health has secured funding at a valuation of $125 million to advance its AI technology for healthcare applications. Founded by former Facebook and Microsoft engineers Rituraj and Ritu Ranjna, Rejoy Health is dedicated to building AI to make medical knowledge more accessible and understandable. The company was launched in 2021 through Y Combinator under the guidance of Michael Seibel. Since its inception, Rejoy Health has consistently enhanced the performance of its AI models, making significant strides in the healthcare sector.
Rejoy Health has developed its own advanced large language models (LLMs) specifically for healthcare applications. These systems continuously scan recent research and online datasets, including extensive medical texts and research papers, to stay updated on new healthcare trends. By consistently training its models on this data, Rejoy Health ensures that its AI provides accurate and current information. Additionally, the platform ranks data based on the trustworthiness of its sources, enhancing the reliability of the information provided to users.
Rejoy Health’s large language models (LLMs) have achieved outstanding accuracy on the MedQA (USMLE) benchmark, even outperforming Med-PaLM 2, a highly esteemed model from Google and the latest models from OpenAI’s ChatGPT. MedQA is a dataset specifically designed to assess the capabilities of question-answering systems in the medical field, focusing on questions similar to those found in the United States Medical Licensing Examination (USMLE). This accomplishment highlights the exceptional reliability of Rejoy Health’s technology, ensuring that users receive precise and up-to-date healthcare information.
For instance, a physician might ask about the health risks associated with GLP-1 receptor agonists like Ozempic and Mounjaro and receive immediate answers. This capability allows healthcare professionals to tailor their questions to specific patient scenarios and ask follow-up questions as needed. Without this tool, doctors would need to spend considerable time searching through numerous papers and resources. Instead of sifting through information equivalent to a lengthy book chapter, they can now obtain answers in just 30 seconds, rather than 30 minutes.
On average, Rejoy Health’s technology saves healthcare professionals 14 hours per month. With an average hourly rate of $200 in the USA, this translates into significant cost savings for clinics and healthcare systems. Rejoy Health’s innovative solutions are now utilized by over 10,000 healthcare professionals from prestigious institutions such as Mayo Clinic, NewYork–Presbyterian Hospital, NYU Langone, and Stanford Medicine. This widespread adoption highlights the platform’s significant value in enhancing healthcare delivery and decision-making.
Recognizing its potential and traction, Rejoy Health has attracted the attention of prominent investors, including Y Combinator, Google, and the Harvard University endowment fund, which manages $54 billion. Additionally, undisclosed pharmaceutical and health insurance companies have shown interest. Recently, Rejoy Health raised funding at a valuation of $125 million. This funding will be used to hire AI engineers and expand clusters of GPUs to further enhance its AI models, aiming to make quality and accurate healthcare information accessible to everyone.
Dubai, UAE, Sep 3, 2024, ZEX PR WIRE, Dubai-based property brand Binghatti announces the launch of Binghatti Royale in Jumeirah Village Circle (JVC). The launch comes in response to the soaring demand for Binghatti projects in the area following the rapid sell-out of back-to-back projects, some recording sell-out periods as quick as 24 hours.
Binghatti Royale features a unique circular architectural identity. The building features 354 residential units ranging from one to three-bedroom apartments and 16 retail spaces across 47 floors.
“We are thrilled to announce the launch of Binghatti Royale in Jumeirah Village Circle. The rapid sell-out of our recent projects highlights the market’s substantial demand for our projects in the area and we are pleased to introduce our latest creation to meet this demand for premium residences,” stated Binghatti Chairman Muhammad BinGhatti.
With construction reaching advanced stages, the handover of the project is anticipated to fall early in the second half of 2025. Amenities include an infinity pool, private suite pools, a kid’s pool, an outdoor gym and multi-purpose lawn, as well as paddle and tennis courts. The project also features social spaces including a juice bar, an outdoor dining area and lush landscape areas.
Binghatti Royale is located in the heart of the vibrant community of JVC and overlooks Dubai’s Al Khail Road. JVC is known for its family-friendly environment, serene green spaces and wide collection of amenities which has made it one of the fastest growing communities in Dubai.
“Binghatti Royale manifests our commitment to cultivate thriving communities in Dubai like Jumeirah Village Circle and we look forward to launching more projects in the near future to continue delivering exceptional value to our clients and investors,” the Chairman added.
About Binghatti Developers:
Binghatti is an award-winning real estate developer based in Dubai headed by Chairman & Head of Architecture Muhammad BinGhatti. The dynamic company offers a wide array of real estate developments distinguished by its groundbreaking architectural design. It currently operates across multiple prominent districts within the emirate including Downtown, Business Bay, Dubai Silicon Oasis, Al Jaddaf, Jumeirah Village Circle, Dubai Science Park ,Liwan, and Dubai Land Residence Complex. Binghatti is renowned for pioneering the development of branded real estate through its collaborations with global luxury brands from various fields including Bugatti, Mercedes-Benz and Jacob&Co. The company possesses bold plans for expansion in the coming years with a particular focus on augmenting its real estate portfolio in Dubai.
Riyadh, Saudi Arabia, 3rd Sep 2024 – NOB is an emerging company in marketing and communication solutions. In the latest record, the company has announced the launch of its innovative Marketing services. This expansion represents a major advancement in NOB’s commitment to providing exceptional, tailored solutions to meet the dynamic needs of its clients and reinforces its position as a market leader in Saudi Arabia.
With its new Marketing services, NOB is set to transform how organizations approach media and management roles. By offering meticulously selected and trained personnel, this service is designed to align human resources with strategic business objectives, ensuring optimal operational efficiency. This strategic move allows NOB to offer top-tier talent tailored to specific marketing needs, enhancing client initiatives with unparalleled expertise.
NOB’s comprehensive Marketing and Management service is another key addition to its portfolio. Covering every facet of event planning—from conceptualization to execution—this service adheres to the highest quality standards. NOB’s dedicated team of experts ensures that each event is meticulously organized, creating memorable experiences that resonate with audiences and achieve client goals. The service encompasses:
Event Planning and Execution: From determining the scope of work to overseeing logistics, NOB ensures a seamless process for each event.
Exhibition and Conference Organization: Utilizing the latest software and technologies, NOB brings creative concepts to life, managing every detail from visual presentations to guest invitations.
Seminar Preparation: With cutting-edge technologies, NOB designs and executes impactful seminars.
Technical and Logistics Solutions: Providing essential support, including electronic payment gateways, visitor registration, and live streaming.
Documentation Management: Capturing events through high-quality photography and production, tailored to client preferences.
Consequently, NOB’s dedication to excellence is demonstrated through its successful execution of major events, including the renowned LEAP technology conference and various high-profile tourism events. These accomplishments underline NOB’s capacity to deliver high-impact marketing solutions and exceptional event experiences that set new industry standards.
About the Founder – Nasser Al-Odah Nasser Al- Odah, Founder and Head of NOB Agency, has been a driving force in the marketing and communication field since 2013. With a background in content creation and influencer marketing, Al- Odah has consistently demonstrated a passion for innovation and strategic excellence. He holds a Bachelor’s degree in Business Administration and Management from Taif University, and his skills in business development and strategic planning have been instrumental in NOB’s rise as a leader in the Saudi marketing sector.
Under his leadership, NOB has grown from a small startup into a premier provider of integrated marketing solutions, setting benchmarks for creativity and effectiveness in the industry.
About the Company – NOB NOB specializes in creating impactful communication strategies and delivering innovative marketing solutions. With a focus on brand strategy, content creation, design, visual production, and social media management, the company helps clients effectively connect with their target audiences. Its diverse range of services is backed by a team of experts dedicated to achieving client success.
Potential clients can visit the following link: https://nob.sa/en/ for more information about the company.
The company is committed to delivering efficient moving and packaging services across the state.
Boca Raton, Florida, United States, 3rd Sep 2024 – With a commitment to offering customers local and long-distance moves, packing/unpacking and storage, Swift Shift Van Lines specializes in item handling, ensuring to provide comprehensive relocation services across the country. Over the years, the company has been known for its stellar services and stands apart for gaining solid credibility. In addition to being fully insured and licensed to move household goods, Swift Shift Van Lines has extensive experience in making the process of moving and packaging seamless and hassle-free.
A wide range of moving and storage services are offered by the company, including packing, unpacking, assembly, and disassembly of furniture, as well as secure storage for in-between moves. A fleet of modern, well-maintained vehicles allows the company to handle moves of all sizes and ensure that each item makes it safely and on time to its new location. Swift Shift Van Lines places the highest priority on customer satisfaction, which is why the team is committed to providing clear communication, reliable services, and a stress-free moving experience.
The CEO of Swift Shift Van Lines states, “Our vision is to ascend as the most trusted and efficient moving and packaging service provider in the industry. We envision a future where our brand is synonymous with customer care, reliability, and sustainability, setting unparalleled standards on a global scale. We understand the intricacies and stresses of moving, and our primary mission is to prioritize the needs and concerns of our customers, ensuring they experience smooth and stress-free transitions. Efficiency and reliability form the backbone of our operations.”
With years of experience in the moving industry, the company has perfected the art of relocation, whether the customer is moving across town or the country. The team of highly trained professionals takes great care in handling customer’s household goods, treating each item with the same level of respect and attention to detail. Swift Shift Van Lines ensures that every step of a customer’s move is executed with precision and care, starting with meticulously packing the belongings all the way to securely loading and transporting them. Customers can rely on the company’s unwavering commitment to excellence and customer satisfaction, enabling them to move stress-free and count on the company for excellence.
“Every member of our staff is committed to making sure that all clients have a quality house-moving experience. We’re a family-owned organization, and we would like you to feel like a part of the household. Our movers are specialists in what they do, and they need to meet strict criteria to be considered a worker — or we like to say, part of the household! Before our hands-on training procedure, all labourers have to pass a drug screening and background check,” says the CEO.
Saint Louis, Missouri, United States, 3rd Sep 2024 – Karviva, a pioneer in the functional beverage market, is excited to announce the launch of its latest product, the Karviva 6-Day Detox and Cleanse Pack. This new offering sets itself apart from traditional juice cleanses by providing a holistic approach to detoxification and nourishment.
Dr. Angela Zeng, founder of Karviva, shared her insights on the philosophy behind this innovative product: “We designed the 6-Day Detox and Cleanse Pack to go beyond the typical cleanse. It’s about more than just detoxification; it’s about repairing and replenishing the body while maintaining balance and vital energy. Our approach integrates traditional wisdom with modern nutritional science to provide a truly holistic health experience.”
The company’s approach focuses on using sustainable and natural ingredients to create functional beverages that support health and wellness. The detox set is formulated to be both effective and enjoyable, offering a refreshing and nutrient-rich experience.
The Karviva 6-Day Detox and Cleanse Pack stands out with its unique approach to detoxification and rejuvenation. This comprehensive program focuses on four key pillars. This holistic combination not only supports physical well-being but also promotes a sense of revitalization and balance, making it a preferred choice for those looking to enhance their overall health naturally.
Remove Toxins: The cleanse begins with natural compounds found in bean sprouts and Ashitaba, which are renowned for their detoxifying properties. These ingredients work to effectively remove toxins from the body, promoting a cleaner internal environment. Repair: The second phase leverages the antioxidant power of dark berries and fruits. These natural antioxidants help to repair and protect cells from oxidative stress, ensuring that the body not only detoxifies but also heals and strengthens during the cleanse. Replenish: Nutrient replenishment is a critical part of the cleanse. Karviva uses whole plant ingredients to provide a rich source of vitamins and minerals. This ensures that while toxins are being removed, the body is simultaneously receiving the essential nutrients it needs to function optimally. Balance Yin and Yang: Unlike many other cleanses, the Karviva 6-Day Detox and Cleanse Pack are designed to maintain the body’s Yin and Yang balance. This holistic approach incorporates ingredients that support the body’s Qi, or vital energy, ensuring that the cleanse does not deplete but rather supports overall energy and well-being.
The wellness market is on the rise, with about half of U.S. consumers now making wellness a top priority in their daily lives, marking a notable increase from 42 percent in 2020.
This launch comes at a time when consumers are increasingly seeking health solutions that offer sustainable and long-term benefits. The Karviva 6-Day Detox and Cleanse Pack meets this demand by providing a balanced, nutrient-rich cleanse that supports overall wellness.
“Our 6-Day Detox and Cleanse Pack is designed to support the body’s natural detoxification process while providing a pleasant taste experience,” says Angela Zeng, founder of Karviva. “Each juice is crafted to not only cleanse but also nourish and rejuvenate.”
Thanks to its unique philosophy rooted deeply in traditional healing practices, Karviva’s products have seen growing acceptance among Asian, black and Hispanic communities. For instance, its steady growth in Puerto Rico reflects the brand’s appeal to diverse communities seeking natural wellness solutions.
About Karviva
Karviva is dedicated to revolutionizing the functional beverage market by merging traditional Eastern healing wisdom with modern science. Founded by Dr. Angela Zeng, Karviva offers a range of health-enhancing beverages designed to nourish the body and support overall wellness. Each product is crafted with whole plant ingredients, rich in fiber and antioxidants, and contains no added sugar. From detox juices and immunity boosters to energy-enhancing drinks, Karviva’s offerings align with the principles of Far Eastern food therapy, ensuring both great taste and healthful benefits.
With this innovative offering, Karviva continues to distinguish itself in the wellness industry, providing solutions that cater to the growing demand for holistic health and nutrition.
Los angeles, California, United States, 3rd Sep 2024 – Scotyputters Company is thrilled to announce an exclusive training session focused on mastering the art of putting with Scotty Cameron putters. Scheduled for 09/09/2024 in the United States California – Los Angeles this event is designed for golfers of all skill levels who want to improve their game and gain insights into the world of Scotty Cameron putters.
Discover the Excellence of Scotty Cameron Putters
Scotty Cameron putters are celebrated for their exceptional craftsmanship and precision. As a premier choice for both amateur and professional golfers, these putters combine innovation with tradition, making them a vital tool for anyone looking to enhance their putting game. During the training session, participants will learn about the unique features that distinguish Scotty Cameron putters from other golf putters for sale.
Hands-On Training and Expert Insights
The training will be led by seasoned golf professionals who specialize in putting techniques. Attendees will engage in hands-on activities that allow them to experience the feel and performance of various Scotty Cameron putters. Whether you’re a beginner or a seasoned golfer, this event promises valuable insights that can elevate your game.
Participants will also explore the advantages of using used Scotty Cameron putters. Our experts will guide you through the process of selecting high-quality used golf putters for sale, helping you understand how to assess condition, performance, and value. For many golfers, used Scotty Cameron putters offer an affordable way to experience the quality and performance of these renowned putters.
Why Putting Matters
Putting is often regarded as one of the most crucial aspects of a golfer’s game. A solid putting technique can significantly impact your overall score and enjoyment on the course. By mastering the fundamentals, golfers can develop consistency and confidence on the greens. Our training session will cover essential topics such as:
– Grip and Stance: Understanding how to hold the putter and position your body for optimal performance.
– Alignment and Aim: Techniques to ensure that your putter is aligned with the target.
– Stroke Mechanics: Learning about the different putting strokes and how to execute them effectively.
– Distance Control: Strategies for judging distances and controlling the speed of your putts.
Event Details
*Date*: 09 September 2024
*Time*:10:30 AM – 12:00 PM
*Location*: California, Los Angeles
*Registration Fee*: Free for 5 registration Candidate
*Registration Link*: http://www.scotyputters.com/
Participants are encouraged to register early, as spaces are limited. This is a fantastic opportunity not just to learn about Scotty Cameron putters but also to connect with fellow golf enthusiasts.
A Broader Range of Equipment
In addition to our focus on Scotty Cameron putters, Scottyputters Company will also showcase a variety of golf equipment and accessories. This includes a selection of Auto darkening welding helmets for those interested in high-quality equipment outside of golf. While the training session is primarily focused on putting, we understand that our community has diverse needs and interests.
Testimonials from Past Participants
Previous attendees of our training sessions have lauded the experience, highlighting the impact it had on their game. “I never realized how much my putting could improve with just a few adjustments,” said Becker Nosy. “The hands-on training made all the difference, and I walked away feeling more confident on the greens.”
Join Us at Scotyputters Company
At Scotyputters Company, we are committed to providing golfers with the tools they need to succeed. Our extensive selection includes not only Scotty Cameron putters for sale but also a range of other high-quality golf equipment. Whether you’re searching for new gear or exploring used golf putters for sale, we have something for everyone.
About Scotyputters Company
Scotyputters Company is dedicated to enhancing the golfing experience for players at all levels. With a wide variety of Scotty Cameron putters and other golf equipment, we strive to ensure that every golfer can find the perfect fit for their needs. Our knowledgeable team is passionate about the game and is always ready to assist customers in selecting the ideal equipment.
For more information about the training session, Scotty Cameron putters, or to schedule an interview, please contact:
Conclusion
Don’t miss this opportunity to improve your putting skills with Scotty Cameron putters. Join us at Scotyputters Company for an engaging and informative training session that promises to take your game to the next level.
The local clinic excels in testosterone replacement therapy in San Angelo.
San Angelo, TX, 3rd September 2024, ZEX PR WIRE, InShapeMD, a leader in testosterone replacement and wellness therapies, is helping Texas men reclaim their energy, strength, and overall vitality through personalized testosterone therapy. With nearly 2.1 percent of men (2 in every 10) experiencing symptoms, InShapeMD’s tailored approach provides a pathway for those looking to enhance their quality of life.
As men age, energy levels naturally decline, significantly affecting physical and mental well-being and making it difficult for men to maintain their typical lifestyle. Recognizing the importance of addressing this issue, InShapeMD provides a comprehensive solution through its Low T program.
The InShapeMD process begins with a detailed consultation, where each client’s unique health needs and goals are assessed. This personalized approach ensures that the treatment plan is customized to the individual, maximizing the potential benefits of the therapy.
“At InShapeMD, we understand that each person is different, and there’s no one-size-fits-all solution when it comes to health and wellness,” said a spokesperson for InShapeMD. “Our testosterone therapy is designed to meet the specific needs of each client, ensuring they receive the best possible care.”
In addition to the personalized nature of the therapy, InShapeMD prioritizes peace of mind, offering a service that respects each client’s life. Many men are hesitant to seek treatment for low energy levels due to the stigma surrounding the condition. InShapeMD’s commitment helps alleviate these concerns, providing a safe environment for clients to address their health issues without fear of judgment.
InShapeMD’s testosterone therapy has received high praise from clients across Texas. Many report significant improvements in their energy levels, mood, and overall well-being within weeks of starting the treatment. The therapy addresses the physical symptoms of low vitality while enhancing mental clarity and emotional balance, leading to a more fulfilling life.
InShapeMD continues to expand its services across Texas, making testosterone therapy accessible to more men who could benefit from its positive effects. The clinic remains dedicated to improving the lives of its clients through advanced therapies and a personalized approach to health and wellness.
About InShapeMD
InShapeMD is a leading provider of hormone replacement therapy and wellness services, specializing in personalized care. With a focus on improving quality of life through tailored treatment plans, InShapeMD offers a range of services, including testosterone therapy, weight loss programs, and anti-aging solutions. The clinic is committed to helping clients achieve their health and wellness goals in a supportive and confidential environment.
Dubai, UAE, 3rd September 2024, ZEX PR WIRE, On October 22-23, Dubai will host the 13th international forum Blockchain Life 2024 – one of the largest global events in the field of web3, cryptocurrencies, and mining.
The forum will feature over 10,000 leading experts, crypto entrepreneurs, and enthusiasts from 120 countries. Participants and speakers will discuss earning strategies, current issues of crypto market development and new trends ahead of the bull cycle.
Among the speakers at the forum:
Paolo Ardoino – CEO Tether
Justin Sun – Founder of TRON
Yat Siu – Co-Founder of Animoca Brands
Pascal Gauthier – CEO Ledger
Dr. Marwan Alzarouni – CEO Dubai Blockchain Center
Xinxi Wang – Co-Founder of Litecoin Foundation
Sunny Lu – CEO Vechain
Sergei Khitrov – Founder of Jets Capital, Listing.Help
Arthur Breitman – Co-Founder of Tezos
Eowyn Chen – CEO of Trust Wallet
Sunny Aggarwal – Co-Founder of Osmosis Labs
Kostas Chalkias – Co-Founder of Sui (Mysten Labs)
Sasha Plotvinov – Founder of Notcoin
Mustafa Al-Bassam – Co-Founder of Celestia Labs
Tiago Henriques – Google Cloud
Zied Brini – Сonsensys
All forum participants will have exclusive and free access to simultaneous interpretation of speeches into 70 languages.
Traditionally, the event will include speeches from over 200 speakers, an exhibition featuring more than 180 booths from leading companies and startups, a Startup Pitch, the Blockchain Life Awards 2024, and a legendary AfterParty. As part of Blockchain Life Week, which runs from October 18 to 28, there will be over a hundred side events. A VIP ticket to the forum allows free access to some of them for free.
Use promo code ZEXPR to receive a 10% discount on any ticket.
Windhoek, Khomas, Namibia, 3rd Sep 2024 – Trustco Group Holdings Limited (TTO.SJ), listed on the Namibian Stock Exchange (NSX), the Johannesburg Stock Exchange (JSE), and the OTCQX Best Market, is pleased to announce NI 43-101 Technical Report for the Meya Diamond Mine Project, Sierra Leone (the “Technical Report”). The Technical Report, dated 26 August 2024 with an effective date of 19 August 2024, was prepared at a Preliminary Economic Assessment (PEA) level. The PEA indicates favourable economic potential with a post-tax Internal Rate of Return (IRR) of 65% and a post-tax Net Present Value (NPV) of United States Dollar (USD) 95.1 million at a 10% discount rate over a 7-year life of mine.
Quinton Z van Rooyen, Trustco’s Deputy CEO
Quinton Z van Rooyen, Trustco’s Deputy CEO, commented on the PEA results: “The positive outcome of this PEA marks a significant milestone for Trustco’s mining portfolio and validates our strategic investment in Meya Mining. With an impressive IRR and substantial NPV, the Meya Mine project not only demonstrates its robust economic potential but also underscores our commitment to creating long-term value for our investors. We are particularly excited about the opportunities for resource expansion, given that this PEA covers only a fraction of our licensed area.”
The Technical Report evaluates the potential viability for underground mining of the Meya River domain using the Long Hole Open Stoping (LHOS) method. It applies Tomra sorting technology to eliminate run of mine waste rock from the diamond-bearing kimberlite prior to treating the material through a dense media separation (DMS) plant. The process plant includes a series of Tomra XRT units to recover large diamonds, as the Meya Project has demonstrated the potential for producing large stones.
Geological studies have revealed the presence of high-quality diamonds within the Meya River kimberlite dyke system, including a significant proportion of valuable Type IIa diamonds. Core drilling and sampling completed through June 2024 have provided the foundation for the maiden mineral resource estimate. The economic analysis projects positive cashflows throughout the project’s life, with peak cashflows anticipated in the middle years of operation.
It is important to highlight that this technical report covers only a 1.3 km portion of the Meya River domain’s 2.8 km strike length down to 800m below the surface, representing less than 3% of the license area’s intrinsic geo-economic potential. With at least 16 additional domains yet to be evaluated, there are significant opportunities for resource expansion and optimization of mining methods in the coming years.
Meya Mining intends to continue the resource development campaign on the remaining domains, with the aim to add additional resources on an annual basis over the remaining 20-year license period. The Meya River domain provides a solid cornerstone from which the mine will continue to expand. The mine is expected to reach steady-state commercial production during the forthcoming financial year.
In accordance with paragraph 12.12(a)(i) of the Listings Requirements, Sean Duggan, Pri.Sci.Nat., M.Sc., Principal Mineral Resource Analyst and Director of Z Star Mineral Resource Consultants, has authored Section 14, as well as relevant content in Sections 1, 25, 26, of the Technical Report as a Qualified Person. Mr Duggan has approved the Resource Estimate and its inclusion in this announcement, confirming the estimate is in accordance with the SAMREC reporting code.
In accordance with paragraph 12.12(a)(i) of the Listings Requirements, Casey Hetman, P. Geo., M.Sc., corporate consultant/practice leader of the mining and geology SRK Consulting (Canada) Inc. in Vancouver, has authored Sections 4, 5, 6, 7, 8, 9, 10, 11, 12, 23, 24, as well as relevant content in Sections 1, 25, 26, References, and Date and Signature of the Technical Report as a Qualified Person and has reviewed the inclusion of the summary of the Report in this announcement. The Technical Report was authored in accordance with the NI 43-101 reporting code.
In accordance with paragraph 12.12(a)(i) of the Listings Requirements, Philip John Rider, Pr.Eng., MIMMM, B.Sc., has authored Sections 13.1 to 13.6 and 13.8 of the Technical Report, as well as relevant content in Sections 1, 25, 26, References, and Date and Signature of the PEA as a Qualified Person and has reviewed the inclusion of the summary of the Report in this announcement. The Technical Report was authored in accordance with the NI 43-101 reporting code.
In accordance with paragraph 12.12(a)(i) of the Listings Requirements, Jarek Jakubec, C.Eng., FIMMM, M.Sc., corporate consultant/practice leader of the mining and geology SRK Consulting (Canada) Inc. in Vancouver, has authored Sections 3, 12, 15, 16, 19, 21.1.1, 21.2.1, 22, as well as relevant content in Sections 1, 25, 26, of the Technical Report as a Qualified Person and has reviewed the inclusion of the summary of the Report in this announcement. The Technical Report was authored in accordance with the NI 43-101 reporting code.
In accordance with paragraph 12.12(a)(i) of the Listings Requirements, Molojwa Bennett Herbet Keikelame, Pr.Eng. SAIMM, B.Sc., has authored Sections 16.7, 17, 21.1.2, and 21.1.3 of the Technical Report, as well as relevant content in Sections 1, 25, 26, References, and Date and Signature of the PEA as a Qualified Person and has reviewed the inclusion of the summary of the Report in this announcement. The Technical Report was authored in accordance with the NI 43-101 reporting code.
Trustco’s investment in mining was initiated in 2015 with the strategic objective of diversifying Trustco’s investment holdings into the natural resources sector. It aims to generate USD returns, acting as an internal hedge against potential macroeconomic impacts on the group’s traditional markets in Namibia and South Africa. While the mining mandate encompasses building a diversified mining portfolio, the primary focus remains on unlocking the full economic potential of its diamond assets, as Meya Mining’s mining license area has yielded five of the world’s largest stones recovered. Trustco holds a 19.5% equity stake in Meya Mining and a loan receivable from Meya of USD 46 million. The combined value of Trustco’s investment in Meya Mining is reflected in Trustco’s financial statements at approximately USD 110 million.
The NI 43-101 Independent Technical PEA Report is available at https://tinyurl.com/yvy8p6xs. With the ongoing development of Meya Mining, Trustco continues to demonstrate its ability to position itself for continued high growth success in its mining portfolio. Trustco’s strategic investment in Meya Mining is set to yield sparkling returns for years to come.
About Trustco:
Trustco Group Holdings Ltd is an investment entity headquartered in Windhoek, Namibia, which manages a diverse portfolio of investments spanning the insurance, real estate, non-deposit taking financial services, micro-finance, education, and mining sectors. Decisions are biased towards generational investment performance alongside shareholder wealth creation, and short-term hurdles are viewed as catalysts for future growth.
Since inception in 1992, Trustco’s investment portfolio has delivered strong returns with a CAGR of 68.97%, with a well-balanced asset mix, with a current average weighting of 34% in US Dollar based assets, while the remaining 66% is invested in Namibia Dollar (1 NAD = 1 ZAR) based assets. Trustco enjoys the backing of a wide range of coinvestors, including 3 610 from Namibia, 1 443 from abroad, and 94 from institutional entities.
About Namibia:
Namibia is a Southern African country with a population of approximately three million and a GDP per capita of USD 5 031 in 2022. The country is endowed with rich natural resources, with recent major discoveries of oil and gas reserves, lithium deposits and rare earth minerals that are vital for technology demand globally, with developments also underway in its green hydrogen projects.The Namibian government has heralded these discoveries as a transformative period, holding the potential to double the nation’s GDP by 2040.
The country’s economy expanded by 4.2% in 2023 and is projected to expand by 3.7% in 2024, following a recovery of 5.3% in 2022 from the COVID-19 pandemic. With its wealth of natural resources, pro-business environment, political stability and increasingly skilled workforce, Namibia offers attractive investment prospects across all sectors.
Forward-Looking Statements:
All statements made in this media release with respect to Trustco’s current plans, estimates, strategies beliefs and other statements that are not historical facts, including statements regarding Trustco’s plans to upgrade its ADR program and the results of such an upgrade, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words or other similar terms or expressions. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on these forward-looking statements. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
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