Capital Drilling Ltd (LON:CAPD)

Capital Drilling Ltd (LON:CAPD)


Share Price
51.50 p
Change
-2 (-3.74 %)
Market Cap
£69.94 m
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Capital Drilling Ltd RNS Release

Contract Win


RNS Number : 0085F
Capital Drilling Limited
24 October 2018
 

For Immediate Release

24 October 2018

 

Capital Drilling Limited

("Capital Drilling", the "Group" or the "Company")

 

Contract Win

Capital Drilling Limited (CAPD:LN), a leading drilling solutions company focused on the African markets, is  pleased to announce that it has been successfully awarded a delineation drilling contract with Canadian-based Sama Resources Inc. ("Sama") at its Yepleu property in Côte d'Ivoire.  Drilling is anticipated to commence in November with the initial program being 6,000 metres of diamond core drilling, targeting semi-massive and massive polymetallic sulphide targets for Nickel-Copper-Cobalt-Palladium.

 

The contract is Capital Drilling's first in the country following its strategic expansion into West Africa where the Company now has 31 rigs, representing a third of its rig fleet. This contract will initially utilise two diamond drill rigs, sourced from the Group's base in Yamoussoukro, which was established in H1 2018 as part of the Group's strategic growth focus into the West African market.

 

Commenting on the award of the Sama contract, Jamie Boyton, Executive Chairman, said:

 

"It is very pleasing to see our increased presence in the high-growth West African region continue to deliver results and we look forward to starting our first contract in Côte d'Ivoire. With the increased fleet and new infrastructure in place, we are well positioned to continue to secure additional work in the country in the future."

 

 

For further information, please visit Capital Drilling's website www.capdrill.com or contact:

 

Capital Drilling Limited                                                                  +230 464 3250

Jamie Boyton, Executive Chairman                                             [email protected]

André Koekemoer, Chief Financial Officer

 

finnCap Ltd                                                                                       +44 20 7220 0500

Christopher Raggett, Corporate Finance

Camille Gochez, Corporate Broking

 

Tamesis Partners LLP                                                                     +44 20 3882 2868

Charlie Bendon

Richard Greenfield

 

Buchanan                                                                                          +44 20 7466 5000

Bobby Morse                                                                                   [email protected] 

Gemma Mostyn-Owen

            

 

About Capital Drilling

 

Capital Drilling provides specialised drilling services to mineral exploration and mining companies in emerging and developing markets, for exploration, development and production stage projects. The Company currently owns and operates a fleet of 91 drilling rigs with established operations in Botswana, Côte d'Ivoire, Egypt, Ghana, Kenya, Mali, Mauritania and Tanzania. The Group's corporate headquarters are in Mauritius.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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