Geodrill Limited GEODF

Primary Symbol: T.GEO

Metals & Mining Industrial Metals & Minerals

Geodrill Limited is an Isle of Man-based exploration drilling company with a fleet of 76 drill rigs operating in Africa and South America. The Company operates in approximately two continents and seven countries, namely Ghana, Burkina Faso, Cote d’Ivoire, Mali in West Arica; Egypt in North Africa; and Peru and Chile in South America. The Company provides Reverse Circulation, Diamond Core, Deep Directional Navi Drilling, Air-Core, Grade Control, Geo-Tech, and Water Borehole drilling services to intermediate and junior mining companies and operates a fleet of multi-purpose rigs in Africa. Its fleet stands at approximately 76 drills and is made up of over nine types, including EDM 2000 multi-purpose (qty. 6), Sandvik DE 810 multi-purpose (qty. 11), Sandvik DE 740 core (qty. 10), Sandvik DE 710 core (qty. 10), X1200 Multi-Purpose (1), X900 Multi-Purpose (17), Austex X350 RC / Grade Control (qty. 2), Austex X300 Air-core (qty. 7) and LM90 (qty. 7).

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Geodrill Limited > Q3 results

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Comment by FrozenInOntarioon Nov 11, 2021 9:40am

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Post# 34114335

RE:Q3 results

Screamer,

You are right on the equity loss (non cash btw) but this is offesetted by their VAT recovery of 600K in SG&A. So net income is flat despite the increase in revenus.

Also notice that they are out of Zambia ? How many rigs did they have overthere ?

So overall, decent quarter, they are solidely profitable. Notice that 50% of their business is with 3 clients this quarter so probably not a lot of room to increase the rates.

However next quarters are indeed looking quite good. I just want to see a monster quarter by one of the drillers so we get a big rerating, so far only revenus are going up...

GLTA

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