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Geodrill Limited T.GEO

Alternate Symbol(s):  GEODF

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).


TSX:GEO - Post by User

Comment by FrozenInOntarioon Nov 11, 2021 4:47pm
157 Views
Post# 34116958

RE:RE:RE:RE:Q3 results

RE:RE:RE:RE:Q3 resultsAs they do not have equal quarters in therm of revenus, You cannot take an average of the all the quarters of the year.     So it all depends on the revenus they will generate for the 4th quarter.
Anyway, agree on your take, all is good.   THe key for the drillers is not to get stuck on a fixed rate contract with rising costs.   As the supply of rigs appears to be limited, rates should raise at least to absorb the costs.  And the clients are flush with cash so they can afford it or should.
Foraco already reported their september quarter and their margins were tight.    MDI will probably have the same problem.  In both cases, they have big exposure to Canada where the labor market is hyper tight or so it appears.  Lets see what OGD reports tommorow.
Was reading Coring Magazine (If my wife saw a charge for this on the credit card statement, I would have to do some explanations) and there is an article on labor shortage in Canada which is quite interesting.    Note that the Foraco VP mentions that wage increases are higher than rate increases.  However, his answers were a bit strange.
https://coringmagazine.com/article/labor-shortage-canada/
GLTA

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