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Major Drilling Group International Inc T.MDI

Alternate Symbol(s):  MJDLF

Major Drilling Group International Inc. is a Canada-based provider of specialized drilling services primarily serving the mining industry. The Company provides a complete suite of drilling services, including surface and underground coring, directional, reverse circulation, sonic, geotechnical, environmental, water-well, coal-bed methane, shallow gas, underground percussive/long hole drilling, surface drill and blast, a variety of mine services, and ongoing development of data-driven, high-tech drill side solutions. Its mineral drilling services include specialized drilling, conventional drilling, and underground drilling. It maintains field operations and offices in Canada, the United States, Mexico, South America, Asia, Africa, Australia, and Peru. The Company has two categories of customers: junior exploration companies and a diversified portfolio of senior/intermediate companies, for which it provides greenfield exploration drilling and/or drilling at operating mines.


TSX:MDI - Post by User

Post by LTOWNERon Dec 07, 2011 10:59am
296 Views
Post# 19299085

2nd Largest World Mine Driller

2nd Largest World Mine DrillerMajor Drilling is the second largest driller of metals & minerals in the world but falls under the radar screen of most analysts because it is headquartered in Moncton NB. This provides an opportunity for astute investors. The CEO appeared on BNN yesterday afternoon, saying the industry is very strong and demand in 2012 will be even stronger. The strength is not just in gold but all metals, everywhere in the world. There is a supply decline in most commodities, it takes 5-6 years to bring a mine on line. There is a large backlog of work just to keep up. Major also focuses on specialized drilling which is more & more in demand. Major was listed by CPMS Morningstar as having "growth with brightening profit." I see Major continuing its growth story for years to come. It is also a high Beta stock (1.81) with lots of volatility. The stock split (3/1 in March '11) makes for confusion when reading analyst recommendations in the Globe saying it was trading in the $30-$40 range. Today's $15 price is $45 pre-split.Beacon Securities also upgraded upgraded target to $20.00 yesterday - sees a bright future ahead for the company, says Major Drilling "is focused on senior customers, who are expected to approve healthy 2012 exploration budgets" & "is having to turn away bids for its services."
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