Perth-based mining and technology firm Nemex Resources has said a 50% rise in its shares over the last few weeks is due to “growing interest” in a biometric security firm it is buying which plans to use scans of people’s tears for authentication.
Nemex is in the process of acquiring a controlling stake in cyber security solution firm Wavefront Biometric Technologies, proposing a 51% investment in Wavefront in April.
Wavefront has developed and patented biometric security technology that authenticates a user's identity by using the pattern of light reflected from the contour of the tear film on the corneal surface in the eye. This firm claims this is more secure than iris or fingerprint scanning, as these anatomical features remain static.
Wavefront says its biometric technology has potential applications across numerous sectors, with initial plans for commercialisation in the mobile-online banking and data security sectors. The company is aiming to develop a hand-held platform to offer mobile identity authentication,
In an interview with the Financial Times in September, Wavefront’s head of R&D, Stephen Mason, said scans of people’s tears were “the world’s first one-time biometric pin”.
Nemex Resources’ asset portfolio has historically comprised interests in both the minerals and technology sectors.