Metatek Orders New Instrument From Lockheed Martin With Seven-Year Global Exclusivity
MT newswire2026/10/06 15:3211:32 AM EDT, 10/06/2026 (MT Newswires) -- Metatek-Group (MTEK.TO) concluded an agreement with Lockheed Martin (LMT), for the manufacture and purchase of a new Enhanced Full Tensor Gravity Gradiometry (eFTG) instrument, it said on Tuesday. The company gets seven years of global exclusivity in relation to the purchase of new eFTG systems from Lockheed Martin, it said. The deal includes preferential pricing for the purchase of an additional eFTG instrument. On the purchase of an additional eFTG, Metatek's global exclusivity would be extended by a further two years, to nine years. The company expects the manufacturing of new instrument to take about three years, it said. "Since the deployment of the first eFTG just over five years ago, the instrument has demonstrated its capabilities across a wide range of projects and operating environments. The combination of rapid data acquisition with high-resolution subsurface imaging is delivering material benefits for our clients. Exploration and investment decisions can be made with greater confidence and in shorter timeframes," chief executive Mark Davies said. Shares of the company were last seen up CA$0.01, or 0.3%, to CA$2.91 on the Toronto Stock Exchange. Price: 2.91, Change: +0.01, Percent Change: +0.34
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