Foraco International SA T.FAR

Alternate Symbol(s): FRACF

Metals & Mining Gold

Foraco International SA, together with its subsidiaries, provides drilling services in North America, South America, the Asia Pacific, the Middle East, Africa, and Europe. It operates through two segments: Mining and Water. The company offers exploration, development, and production drilling services to the mining industry for energy transition and gold, as well as for mineral exploitation of precious and base metals, coking coal, iron ore, lithium, and diamonds; underground drilling services; and various geological sampling and testing techniques, including chips and cores, stabilized holes for blasting, logging, boreholes to be used for injection of water or acid, cold water injection, production boreholes, large diameter core, and dual tube rotary bulk samples. It also installs production pumps for dewatering purposes; and provides drift stabilization or water table protection for decommissioning of mineral production facilities. In addition, the company drills wells for drinking...

TSX:FAR - Post by User

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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Micron is getting out of the consumer business when it is needed the most