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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 Feb 09, 2024 2:47pm
129 Views
Post# 35872891

RE:RE:RE:RE:Buyout?

RE:RE:RE:RE:Buyout?
One would think so. He sounded like a motivated seller when discussing a potential buyout years ago.

I hoped the recent decline in price would renew buyout interest. If Geodrill is starting to go after contracts with the majors then a contender may be better off acquiring Geodrill rather than competing.

With regard to the recent share price decline - the market hates uncertainty. The pull out from Burkina, dividend suspension, and continued increase in their 90+ days receivables all contribute to uncertainty. Hopefully they can quell the concerns in 2024.
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