We started with the ASX small-cap market on our doorstep — about 1,500 listed companies under $300m market cap, half in resources — because its continuous disclosure is the hardest test we could set for the numbers: JORC compliance, drilling results, clinical milestones, where a wrong figure is a real problem. We’re early. We’ve been building with a small group of companies, much of it at no charge, learning what a service like this has to get right before we ask anyone to rely on it.

We think this is where investor communications is heading: the drafting, formatting and checking that used to need a team — or simply didn’t get done — becomes something any company can afford. Publishing stops being the bottleneck, so companies talk to their investors more often and more consistently, with numbers a reader can trace. The effort moves to the one part only they can do: deciding what to say.