These are exciting days for Global UAV Technologies Ltd (CSE: UAV, OTCQB: YRLLF, Forum). The Company just reported its first quarterly profit in only its second full quarter of operations. Powering UAV into the black was an 84% increase in revenues over the previous quarter.
A large part of the reason for this bottom-line success are the operations of one of UAV’s subsidiaries, Pioneer Aerial Services. Pioneer is an industry leader in providing its trademark UAV-MAG™ aerial surveys. Magnetometer surveying produces graphical representations which effectively “see” beneath the Earth’s surface. For this reason, such aerial surveying is of particular importance to the mining industry.
Pioneer has attracted an international reputation in the mining industry for the caliber of its imaging and has already conducted its surveys on three continents. The subsidiary recently broke new ground in signing its first contract for UAV-MAG™ surveying in South America.
However, this wasn’t the biggest news for Pioneer over the previous quarter. Last month it reported completing an aerial survey around Pearl Harbor, Hawaii.
With a profitable bottom line, an expanding sphere of operations, and this recent high-profile assignment, Pioneer Aerial is flying high. Stockhouse recently had the opportunity to talk with Michael Burns, the co-founder of Pioneer Exploration Consultants and now the Director in charge of operations for Pioneer Aerial.
FULL DISCLOSURE: Global UAV Technologies Ltd is a paid client of Stockhouse Publishing.