Welcome!

.NET Authors: Lori MacVittie, Yeshim Deniz, Ivan Antsipau, Liz McMillan, Michael Bushong

News Feed Item

Stornoway Reports Optimized Renard Mine Design and Cost Estimates

Initial Capital Cost Reduced; High Operating Margin Maintained

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/28/13 -- Stornoway Diamond Corporation (TSX:SWY) is pleased to report the completion of a mine design and cost optimization exercise (the "Optimization Study") for the Renard Diamond Project, Stornoway's 100% owned mining development project located in north-central Quebec. The Optimization Study incorporates certain design refinements undertaken since the release of the project's Feasibility Study in November 2011 (the "Feasibility Study"), including the deferral of shaft access for the underground mine and a modified underground mining sequence and draw point design. As a result of these design changes, project operating and capital cost estimates have been restated, and a revised production schedule established. The Optimization Study also contains an updated project development schedule and financial model incorporating, amongst other things, the terms of the March 2012 Mecheshoo Agreement with the Cree Nation of Mistissini, the Grand Council of the Crees (Eeyou Istchee), and the Cree Regional Authority, and the November 2012 Renard Mine Road financing agreement with the Government of Quebec. Highlights of the Optimization Study are as follows:


--  A revised initial capital cost of C$752 million, including
    contingencies, in October 2012 terms, a reduction of C$50 million from
    the previous estimate which was expressed in June 2011 terms. 
--  A revised operating cost averaging C$57.63/tonne (C$76.63/carat) life of
    mine in October 2012 terms, an increase of C$2.92/tonne from the
    previous estimate. 
--  Base case estimates of Net Present Value ("NPV") of C$683 million at a
    7% discount rate and Internal Rate of Return ("IRR") of 20.3% before
    taxes and mining duties, and C$391 million and 16.3% after taxes and
    mining duties, all improvements from the previous estimates. 
--  11 years reserve-based mine life with diamond production averaging 1.6
    million carats/annum life of mine, real terms net revenue of C$4,046
    million, and a cash operating margin of C$2,693 million (67% compared to
    68% in the previous estimate).

Matt Manson, President and CEO, commented: "The Optimization Study reported today confirms a robust project with strong cash flows. Since the release of the project's Feasibility Study, we have been able to bring down our initial capital cost estimate with only a modest impact on the project's operating costs. We are particularly pleased that the project has so successfully absorbed the kind of post-feasibility design adjustments and operating agreements that can negatively impact a project's value. The deferral of the shaft has been achieved without compromising the future development of the project's substantial resource upside, and the refinements made to the underground mining sequence provide greater confidence in the operating parameters for this critical part of the overall mine plan. With our Mining Lease and Quebec Certificate of Authorization in hand, and the Renard Mine Road under development, we can now move towards finalizing our project financing arrangements, and initiating project construction in the third quarter of this year."

The Optimization Study restates the project's Probable Mineral Reserves at 17.9 million carats (23.8 Mtonnes at 75 carats per hundred tonnes, or "cpht"), a reduction of 0.1 million carats after allowance for revised mining dilution and ore recovery estimates. The new study does not incorporate any changes to the project's underlying National Instrument ("NI") 43-101 compliant Mineral Resources, and does not include the results of the ongoing bulk sampling program at the Renard 65 kimberlite. Including Renard 65, the project contains 17.5 million carats (31.1 Mtonnes at 56 cpht) of Inferred Mineral Resources, much of which lies within the envelope of the planned mine infrastructure. Since mineral resources that are not mineral reserves do not have demonstrated economic viability, these have not been incorporated into the Optimization Study mine plan, in compliance with Canadian reporting standards. However, the project's design, processed kimberlite storage capacity, permits and Mining Lease contemplates the eventual mining of all NI 43-101 Mineral Resources over an extended mine life. In addition to the Mineral Resources, 23.5 to 48.5 million carats of non-resource exploration upside (55.1 to 75.5 Mtonnes at grades ranging from 23 to 188 cpht) has been estimated to 775 meters depth, below which each kimberlite remains open. Readers are cautioned that the potential quantity and grade of any such exploration target is conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource (an Optimization Study Support Material presentation is available at http://stornowaydiamonds.com/_resources/feasibility_support_materials_20130128.pdf).

Significant Changes to the November 2011 Feasibility Study

The Feasibility Study included both ramp and shaft access to the Renard underground mine. Shaft sinking will now be deferred until later in the mine life and access to the underground mine will be by way of a ramp only. This will be developed to a depth of 610 meters, sufficient to extract all Mineral Reserves and the Inferred Mineral Resources, and enlarged to accommodate the planned production rate of 6,000 tonnes of ore daily. Ore will be hauled to surface by 60 tonne trucks, with ramp ventilation capacity and surface maintenance facilities expanded to accommodate the increased fleet. Plant capacity remains at 6,000 tonnes per day (2.2 Mtonnes/year) expandable to 7,000 tonnes per day (2.6 Mtonnes/year). Power requirements are expected to total 12.2 MW during operations and be provided by on-site diesel power generation.

Diamond production in Years 1 and 2 remains predominantly derived from the Renard 2/3 open pit. Diamond production from the underground mine will commence during Year 2. As with the Feasibility Study, underground ore will be mined with blast-hole shrinkage on 250 meter, 430 meter and 610 meter development levels, with waste back fill from surface. The Optimization Study contains a refined draw point design and a mining sequence incorporating a panel-retreat method to better assure geomechanical stability and militate against the unexpected onset of natural caving. Numerical analysis of blast fragmentation, and modeling of ore flow during the draw, has been conducted using REBOP(TM) software. This has resulted in a modest increase in the overall estimate for ore dilution and a modest decrease in the estimate for ore recovery.

No changes have been made to assumptions contained within the Feasibility Study for diamond price, exchange rate, or marketing costs. The cost of diesel fuel is based on an assumed oil price of US$95/barrel compared to US$90/barrel previously.

The Optimization Study incorporates the impact of a Framework Agreement between Stornoway and the Quebec Ministere des Transports, the Ministere des Ressources Naturelles, and the Ministere des Finances et de l'Economie ("MFE") for the completion of the Route 167 Extension and the Renard Mine Road, and a revised financing agreement between Stornoway and the MFE (Stornoway press releases dated November 15 and 30, 2012). The Optimization Study assumes a cost to Stornoway of $78 million (after escalation) to complete the road. The MFE loan to Stornoway funding the Renard Mine Road is in two tranches, $77 million at 3.35% and, to the extent required, an additional $7.7 million at 6.3%, both with a term of 15 years, with interest accruing from January 2016 and interest and principal payments beginning in December 2016. As a result of these agreements, the new project development schedule assumes first road access to the project site by the fourth quarter of 2013 rather than July 2013 previously. Plant commissioning is now scheduled to begin in December 2015 with commercial production achieved by June 2016, compared to July 2015 and January 2016 previously.

The Optimization Study also incorporates certain financial terms of the Mecheshoo Agreement, the Impacts and Benefits Agreement between Stornoway, the Cree Nation of Mistissini, the Grand Council of the Crees (Eeyou Istchee) and the Cree Regional Authority (Stornoway press release dated March 27, 2012). The Mecheshoo Agreement includes a mechanism by which the Cree parties will benefit financially from the success of the project on a long term basis, consistent with mining industry best practices for social engagement.

The results of the Optimization Study are outlined in Table 1 below.


Table 1: Results and Key Assumptions         November 2011     January 2013
                                         Feasibility Study     Optimization
---------------------------------------------------------------------------
Mining          Reserve Carats (M)                    18.0             17.9
Parameters                                                                 
                -----------------------------------------------------------
                Tonnes Processed (M)                  23.1             23.8
                -----------------------------------------------------------
                Recovered Grade (cpht)                  78               75
                -----------------------------------------------------------
                Average Ore Recovery (%)             83.5%            82.9%
                -----------------------------------------------------------
                Average Mining Dilution              13.5%            17.9%
                (%)                                                        
                -----------------------------------------------------------
                Dilution Grade (cpht)                    0                0
                -----------------------------------------------------------
                Processing Rate                        2.2              2.2
                (Mtonnes/annum)                                            
                -----------------------------------------------------------
                Mine Life (years)                       11               11
---------------------------------------------------------------------------
Cost Parameters Initial Cap-ex (C$M)(1)               $802             $752
                -----------------------------------------------------------
                LOM Cap-ex (C$M)(3)                   $994           $1,013
                -----------------------------------------------------------
                Oil Price (US$/barrel)(1)              $90              $95
                -----------------------------------------------------------
                LOM Op-ex (C$/tonne)(1)             $54.71           $57.63
                -----------------------------------------------------------
                LOM Op-ex (C$/carat)(1)             $70.27           $76.63
---------------------------------------------------------------------------
Revenue         Gross Revenue (C$M)(1)              $4,112           $4,268
Parameters                                                                 
                -----------------------------------------------------------
                Marketing Costs                       2.7%             2.7%
                -----------------------------------------------------------
                DIAQUEM Royalty                       2.0%             2.0%
                -----------------------------------------------------------
                Cash Operating Margin               $2,677           $2,693
                (C$M)(1)                                                   
                -----------------------------------------------------------
                % Operating Margin                     68%              67%
                -----------------------------------------------------------
                Income Tax, Mining Duties             $571             $625
                and IBA payments (C$M)(1)                                  
                -----------------------------------------------------------
                After Tax Net Cash Flow             $1,151           $1,084
                (C$M)                                                      
---------------------------------------------------------------------------
Diamond Price   Renard 2 and Renard 3                 $182             $182
Parameters(2)   (US$/carat)                                                
                -----------------------------------------------------------
                Renard 4 (US$/carat)                  $164             $164
                -----------------------------------------------------------
                Diamond Price Escalation              2.5%             2.5%
                -----------------------------------------------------------
                Exchange rate                     1C$=1US$         1C$=1US$
---------------------------------------------------------------------------
Schedule        Effective Date for NPV      January 1 2012   January 1 2013
Parameters      Calculation                                                
                -----------------------------------------------------------
                Construction Mobilization      July 1 2013    August 1 2013
                (Early Works)                                              
                -----------------------------------------------------------
                Plant Commissioning            July 1 2015  December 1 2015
                Commences                                                  
                -----------------------------------------------------------
                Commercial Production       January 1 2016      June 1 2016
                Declared                                                   
---------------------------------------------------------------------------
Valuation       Pre-Tax NPV7% (C$M)                   $672             $683
Parameters(4)                                                              
                -----------------------------------------------------------
                Pre-Tax IRR                          18.7%            20.3%
                -----------------------------------------------------------
                After-Tax NPV7% (C$M)                 $376             $391
                -----------------------------------------------------------
                After-Tax IRR                        14.9%            16.3%
---------------------------------------------------------------------------

1.  November 2011 Feasibility Study expressed in June 2011 terms. January
    2013 Optimization expressed in October 2012 terms. 
2.  Prices are expressed in May 2011 terms. 
3.  Expressed in nominal terms. 
4.  De-escalated nominal terms. 

Capital and Operating Costs

Capital and operating costs in the Optimization Study were adjusted on the basis of modified deliverables and material take offs arising from the mine design scope changes. No changes were made to quantity estimates where no design changes had been made. Capital cost is estimated at an accuracy of -11% and +19%. All estimated costs were escalated to October 2012 terms from June 2011 terms previously by applying market inflation indices. Indirect, owners and EPCM costs were re-assessed on the basis of the revised project schedule including early works and infrastructure availability. Contingencies, risk and escalation factors were all re-assessed.

Initial capital costs are now estimated at C$752.1 million, including a contingency of C$64.7 million, expressed in October 2012 terms. Life of Mine capital cost, including escalation commencing in Q4 2012, the Renard Mining Road, sustaining and deferred capital, less credits for pre-production revenue and salvage value, are estimated at C$1,012.9 million.


                                               November 2011               
Table 2: Estimate of Capital Costs(1)            Feasibility   January 2013
                                                       Study   Optimization
---------------------------------------------------------------------------
Site Preparation & General                            $ 22.9         $ 32.7
Mining                                               $ 236.9        $ 151.2
Mineral processing plant                             $ 168.4        $ 175.4
Onsite utilities and infrastructures                 $ 102.4        $ 114.8
Owner's Cost                                          $ 86.2         $ 94.7
Spares, fills, tools                                  $ 10.2          $ 7.1
EPCM services                                         $ 45.0         $ 47.9
Field indirect costs, vendor representatives          $ 22.5         $ 33.9
Construction camp & Catering                          $ 25.0         $ 24.5
Freight and duties                                     $ 8.1          $ 5.5
Contingency                                           $ 74.3         $ 64.7
---------------------------------------------------------------------------
Total Initial Capital                                $ 801.8        $ 752.1
---------------------------------------------------------------------------
Escalation Allowance on Initial Capital               $ 57.3         $ 45.1
Pre-Production Revenue                              $ (24.6)       $ (25.0)
Deferred & Sustaining Capital(2)                     $ 138.8        $ 175.9
Deferred Capital (Route 167 Extension)                $ 44.0          $ 0.0
Renard Mine Road(2)                                    $ 0.0         $ 78.0
Salvage Value(2)                                    $ (22.9)       $ (13.3)
---------------------------------------------------------------------------
Total Life of Mine Capital, After                    $ 994.4      $ 1,012.9
Contingency, Escalation, Deferred and                                      
Sustaining Capital                                                         
---------------------------------------------------------------------------
All figures in C$ million.                                                 
1. Totals may not add due to rounding.                                     
2. After Escalation                                                        

Life of mine operating cost is estimated at C$57.63/tonne (C$76.63 per carat; Table 3). The majority of open pit costs at Renard 2 and 3 occur before June 2016 and are contained within the capital cost estimates.


Table 3: Estimate of Operating Costs(1,2)                                  
                                November 2011            January 2013      
                               Feasibility Study         Optimization      
                           ------------------------------------------------
                                          Unit Cost               Unit Cost
                            C$ millions     $/Tonne C$ millions     $/Tonne
---------------------------------------------------------------------------
Open Pit Mine                       $ 6      $ 0.27        $ 10      $ 0.43
Underground Mine(3)               $ 556     $ 24.45       $ 555     $ 23.64
Processing                        $ 344     $ 15.13       $ 359     $ 15.29
G&A                               $ 338     $ 14.86       $ 429     $ 18.27
---------------------------------------------------------------------------
Total Life of Mine              $ 1,244     $ 54.71     $ 1,352     $ 57.63
Operating Costs                         ($70.27/ct)             ($76.63/ct)
---------------------------------------------------------------------------

1.  Totals may not add due to rounding. November 2011 Feasibility Study
    costs are expressed in Q3 2011 terms. January 2013 Optimization costs
    are expressed in Q3 2012 terms. 
2.  Excludes capitalized preproduction costs. 
3.  Unit cost per processed tonnes. Unit cost per mined tonnes were $26.13
    in the November 2011 Feasibility Study and are $25.53 in the 2013
    Optimization Study.

Qualified Persons

Jean-Francois St-Onge, Eng. of SNC Lavalin Inc. is the independent Qualified Person responsible for infrastructure design, the operating and capital cost estimate, and risk management.

Dr. Lynton Gormely, P.Eng. of AMEC Americas Limited is the independent Qualified Person responsible for process plant design.

Mr. William Bagnell, P.Eng. of AMEC Americas Limited is the independent Qualified Person responsible for underground mine design and mineral reserves.

Mr. Louis-Pierre Gignac, Eng. of G Mining Services Inc. is the independent Qualified Person responsible for open pit design and mineral reserves, and financial analysis.

Mr. Martin Magnan, Eng. of Roche Lte. is the independent Qualified Person responsible for permitting and environmental and social considerations.

Mr. Paul Bedell, P.Eng. of Golder Associates Ltd. is the independent Qualified Person responsible for geotechnical, water management and processed kimberlite containment facility design.

Ms. Valerie Bertrand, Geo. of Golder Associates Ltd. is the independent Qualified Person responsible for geochemical classification.

Dr. Richard Brummer, P.Eng. of Itasca Consulting Canada Inc. is the independent Qualified Person responsible for geomechanical and hydrogeological considerations.

Mr. Charles Gagnon, Eng. of Roscoe Postle Associates Inc. is the independent Qualified Person responsible for underground ventilation design.

Mr. David Farrow, P.Geo. (BC) of GeoStrat Consulting Inc. is the independent Qualified Person responsible for the preparation of the mineral resource estimate for the Renard Diamond Project.

All of these Qualified Persons have reviewed and approved the contents of this press release for which they are responsible.

Stornoway will file a NI 43-101 compliant technical report on the Optimization Study, representing an amended Feasibility Study, within 45 days.

About the Renard Diamond Project

The Renard Diamond Project is located approximately 250 km north of the Cree community of Mistissini and 350 km north of Chibougamau in the James Bay region of north-central Quebec. In November 2011, Stornoway released the Renard results in the November 2011 Feasibility Study followed with the January 2013 Feasibility Study Optimization which highlighted the potential of the project to become a significant producer of high value rough diamonds over a long mine life. NI 43-101 compliant Probable Mineral Reserves stand at 17.9 million carats, with a further 17.5 million carats classified as Inferred Mineral Resources, and 23.5 to 48.5 million carats classified as non-resource exploration upside. All kimberlites remain open at depth. Pre-production capital cost stands at an estimated C$752 million, with a life of mine operating cost of C$57.63/tonne giving a 67% operating margin over an initial 11 year mine life. Readers are referred to the technical report dated December 29, 2011 in respect of the November 2011 Feasibility Study for the Renard Diamond Project for further details and assumptions relating to the project.

About Stornoway Diamond Corporation

Stornoway is a leading Canadian diamond exploration and development company listed on the Toronto Stock Exchange under the symbol SWY and headquartered in Montreal. Our flagship asset is the 100% owned Renard Diamond Project, on track to becoming Quebec's first diamond mine. Stornoway also maintains an active diamond exploration program with both advanced and grassroots programs in the most prospective regions of Canada. Stornoway is a growth oriented company with a world class asset, in one of the world's best mining jurisdictions, in one of the world's great mining businesses.

On behalf of the Board

STORNOWAY DIAMOND CORPORATION

Matt Manson, President and Chief Executive Officer

This press release contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as "forward-looking statements", are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law.

Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the amount of mineral resources and exploration targets; (ii) the amount of future production over any period; (iii) net present value and internal rates of return of the mining operation; (iv) assumptions relating to capital costs, operating costs and other cost metrics set out in the Feasibility Study or the Optimization Study; (v) assumptions relating to gross revenues, operating cash flow and other revenue metrics set out in the Feasibility Study or the Optimization Study; (vi) assumptions relating to recovered grade, average ore recovery and other mining parameters set out in the Feasibility Study or the Optimization Study; (vii) mine expansion potential and expected mine life; (viii) expected time frames for completion of permitting and regulatory approvals and making a production decision; (ix) the expected time frames for delivery of a winter road by the Quebec Ministere des Transports, construction of a mining grade road by Stornoway and completion generally of the Route 167 extension and the financial obligations or costs incurred by Stornoway in connection with such road extension; (x) future exploration plans; (xi) future market prices for rough diamonds; and (xii) sources of and anticipated financing requirements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are made based upon certain assumptions by Stornoway or its consultants and other important factors that, if untrue, could cause the actual results, performances or achievements of Stornoway to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Stornoway will operate in the future, including the price of diamonds, anticipated costs and ability to achieve goals. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, but are not limited to: (i) estimated approval date of the Environmental and Social Impact Assessment; (ii) required capital investment and estimated workforce requirements; (iii) estimates of net present value and internal rates of return; (iv) receipt of regulatory approvals on acceptable terms within commonly experienced time frames; (v) the assumption that a production decision will be made, and that decision will be positive; (vi) anticipated timelines for the commencement of mine production; (vii) anticipated timelines related to the delivery of a winter road by the Quebec Ministere des Transports, construction of a mining grade road by Stornoway and completion generally of the Route 167 extension and the impact on the development schedule at Renard; (viii) anticipated timelines for community consultations and the impact of those consultations on the regulatory approval process; (ix) market prices for rough diamonds and the potential impact on the Renard Project's value; and (x) future exploration plans and objectives.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important risk factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, including the assumption in many forward-looking statements that other forward-looking statements will be correct, but specifically include, without limitation, (i) risks relating to variations in the grade, kimberlite lithologies and country rock content within the material identified as mineral resources from that predicted; (ii) variations in rates of recovery and breakage; (iii) the greater uncertainty of exploration targets; (iv) developments in world diamond markets; (v) slower increases in diamond valuations than assumed; (vi) risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar; (vii) increases in the costs of proposed capital and operating expenditures; (viii) increases in financing costs or adverse changes to the terms of available financing if any; (ix) tax rates or royalties being greater than assumed; (x) results of exploration in areas of potential expansion of resources; (xi) changes in development or mining plans due to changes in other factors or exploration results of Stornoway; (xii) changes in project parameters as plans continue to be refined; (xiii) risks relating to receipt of regulatory approvals or the implementation of the existing Impact and Benefits Agreement with aboriginal communities; (xiv) the effects of competition in the markets in which Stornoway operates; (xv) operational and infrastructure risks; (xvi) technical, environmental, permitting and execution risk relating to the construction by Stornoway of a mining grade road forming part of the Route 167 extension, (xvii) weather conditions or other unpredictable events which may impact the construction or planned availability of a winter road by March 2013; and (xviii) the additional risks described in Stornoway's most recently filed Annual Information Form, annual and interim MD&A, and Stornoway's anticipation of and success in managing the foregoing risks. Stornoway cautions that the foregoing list of factors that may affect future results is not exhaustive.

When relying on our forward-looking statements to make decisions with respect to Stornoway, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Stornoway does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Stornoway or on our behalf, except as required by law.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
With the iCloud scandal seemingly in its past, Apple announced new iPhones, updates to iPad and MacBook as well as news on OSX Yosemite. Although consumers will have to wait to get their hands on some of that new stuff, what they can get is the latest release of iOS 8 that Apple made available for most in-market iPhones and iPads. Originally announced at WWDC (Apple’s annual developers conference) in June, iOS 8 seems to spearhead Apple’s newfound focus upon greater integration of their products into everyday tasks, cross-platform mobility and self-monitoring. Before you update your device, here is a look at some of the new features and things you may want to consider from a mobile security perspective.