Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Geodrill Limited GEODF


Primary Symbol: T.GEO

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 DeepValueAlwayson Nov 02, 2023 12:03pm
211 Views
Post# 35713769

RE:RE:Oversold!

RE:RE:Oversold!Yes I sure did, look that 13m, if it is a goose egg will be manageable especially with now 6m already set aside. They expressed concern last filing that a few of their customers were waiting capital raises. Well looks like it didn't go well. We are in a new world when trying to borrow money or raise capital. Don't believe they will be drilling for many more companies without rock solid financials. I don't know but that is most likely the reason for cutting the dividend and preserving cash. This mgt team has been conservative since inception. Look they are trading for half tangible book and very low multiples, just have to get past this year. They have been discounted now 50% since pulling out of that African country just doesn't make a lot of sense to me, to lose what 60-70m in market cap? It is a bump in the road the game plan is still intact. 
<< Previous
Bullboard Posts
Next >>