Judges Scientific PLC: Geotek Services & Boxscan
Former Director at Geotek Limited
inpractise.com/articles/judges-scientific-plc-geotek-services-and-boxscan
Former Director at Geotek Limited
Interview Transcript
This is a snippet of the transcript, sign up to read more.
Was BoxScan an evolution of the service concept, or was it entirely different and necessary for entering the mining industry?
When we first developed the concept of BoxScan, we were deciding how to grow that business without hiring a large number of people and without changing the business portfolio too much. We also reflected on the fact that in the mining industry, capital expenditure budgets are typically lower. Many mining companies, particularly the mid-tiers and the more affluent juniors at the time, don't want capital expenditures sitting on their books because it affects their balance sheet. It's generally not favorable when they try to flip the business, as they are often looking to sell it to someone else.
This is a snippet of the transcript, sign up to read more.
Was BoxScan an evolution of the service concept, or was it entirely different and necessary for entering the mining industry?
We came up with the concept of leasing the system on a daily basis. This allowed us to keep our direct costs low since we didn't need to hire many people to deploy in the field. Our main costs were the equipment build, software, and minimal support activities, which was comfortable for us. We were in a good position, and this concept was quickly copied by others. No core scanning company was leasing equipment at that time; they were charging per meter until we introduced this disruptive business model. Now, everyone leases equipment, although some might argue they did it before, but generally, they didn't.
This is a snippet of the transcript, sign up to read more.
Regarding the whole bundle offering, what exactly are you selling? Is it the instruments themselves, or the people?
Let me think about how best to describe it. The biggest projects awarded are these core digitisation projects. The inception of these projects depends on who is actively looking for them, but the principle is mostly the same. You have a physical asset, which is a core, and you need to create a digital twin of that core to do something valuable with the data on the back end. It's similar to digitising paper records.
This is a snippet of the transcript, sign up to read more.
Related Content
Copyright Notice
This document may not be reproduced, distributed, or transmitted in any form or by any means including resale of any part, unauthorised distribution to a third party or other electronic methods, without the prior written permission of IP 1 Ltd.
IP 1 Ltd, trading as In Practise (herein referred to as "IP") is a company registered in England and Wales and is not a registered investment advisor or broker-dealer, and is not licensed nor qualified to provide investment advice.
In Practise reserves all copyright, intellectual and other property rights in the Content. The information published in this transcript (“Content”) is for information purposes only and should not be used as the sole basis for making any investment decision. Information provided by IP is to be used as an educational tool and nothing in this Content shall be construed as an offer, recommendation or solicitation regarding any financial product, service or management of investments or securities. The views of the executive expressed in the Content are those of the expert and they are not endorsed by, nor do they represent the opinion of In Practise. In Practise makes no representations and accepts no liability for the Content or for any errors, omissions, or inaccuracies will in no way be held liable for any potential or actual violations of laws, including without limitation any securities laws, based on Information sent to you by In Practise.
© 2025 IP 1 Ltd. All rights reserved.