Foraco International SA FRACF

Primary Symbol: T.FAR

Metals & Mining Industrial Metals & Minerals

Foraco International S.A. is a France-based company engaged in the mining, geological and hydraulic drilling sectors. The Company's principle business consists of drilling contracts for companies primarily involved in mining and water exploration. The Company operates in two business segments: Mining and Water. The Mining segment covers drilling services offered to the mining and energy industry during the exploration, development and production phases of mining projects. The Water segment covers all activities linked to the construction of water wells leading to the supply of drinking water, the collection of mineral water, as well as the control, maintenance and renovation of the existing installations. The Water segment also includes drilling services offered to the environmental and construction industry, such as geological exploration and geotechnical drilling.

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Foraco International SA

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Comment by FrozenInOntarioon Feb 16, 2022 12:49pm

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Post# 34434314

RE:Foraco International wins a major 110 MU$ contract

Nice contract. By my calculation this is 260 000/ month per rig. GEO just annonced a contract in Egypt for 180 000/month for 5 rigs, same time frame. Of course, the type of rigs and the countries are different so it is not an apple to apple comparison. However, seems to me that long term contracts are getting signed, rates are quite good so the capacity in the market is getting soaked. Pretty good signs that appears to validate the supercycle story.
Anyway, tried to play it cute by selling my FAR to buy more GEO and OGD (prior earnings ouch...)
GLTA,

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