Post by
FrozenInOntario on Jan 26, 2022 9:19pm
TD Fireside chat with MDI
Just listened to the chat. Supercycle was mentionned by Harper, very very busy 2022 as per Larocque and copper cos are still not increasing their drilling budget in Argentina and Chile. I guess politics in action.
Harper did mention that GEO might release a NR for a contract next week and another one afterward. He did mention that contracts are NR only for material conracts like the one release a couple of weeks ago with Perseus. In december, he was mentionning an Egyptian contract coming so lets see.
Interestingly Larocque did mention that they had to pick their contracts in NA, Australia and USA as they did not have enough capacitiy to meet the demand (deep hole drilling rigs fully booked as well as Artic). I remember him mentionning that clients were now price takers a couple of quarters ago. He did mention something about clients desesperate for those drills.
So, Gold is booming, copper is coming and if the economy does not roll into a recession, the drillers will be printing even more money.
As an aside, their stocks are cheap but expanding the capacity seems to be the main focus, Harper was quite clear on this. He sees the possibilities.
GLTA