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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 drewmumawon Aug 17, 2023 1:44pm
295 Views
Post# 35593285

RE:RE:Radius Research New Interview with GEO

RE:RE:Radius Research New Interview with GEOThe CEO was quite blunt about the poor performance this quarter in both the earnings call and the Radius Research interview. One silver lining they mentioned was that the dividend is safe. They tried to sound optimistic about being able to move Burkina rigs to Senegal - a new country for them to operate in. I still have doubts as to how long it will take to bounce back from this quarter. Long term (12+ months) the company should be fine, but I do not see a strong short-term bull case for owning the stock - and the price seems to reflect that sentiment from the market too. I was hoping MDI or someone else would have bought Geodrill by now to absorb a drilling competitor in West Africa, but that fantasy never materialized.
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