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 Extension at Geita Gold Mine, Tanzania


RNS Number : 2232K
Capital Drilling Limited
12 December 2018
 

For Immediate Release

12 December 2018

 

 

 

 

 

 

 

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

Contract Extension at Geita Gold Mine, Tanzania

 

Capital Drilling Limited (CAPD:LN), a leading drilling solutions company focused on the African markets, is pleased to announce that it has secured a one year extension agreement at Anglo Gold Ashanti's Geita Gold Mine, for the continuation of underground exploration and underground grade control drilling services.

 

The contract extension will commence in January 2019 and will utilise the existing underground drill rig fleet currently located at the site.

 

The underground drilling services represent a sub contract of the comprehensive drilling services contract with Geita Gold, which encompasses blast hole, grade control, delineation, exploration and underground drilling. The master contract is a five year contract running to December 2020, with Capital Drilling having commenced drilling operations at the Geita Gold Mine in 2006.

 

Commenting on the contract extension, Jamie Boyton, Executive Chairman said:

 

"The experience Capital Drilling has gained at the Geita Gold Mine over the past thirteen years underpins our strategy of targeting Tier 1 long life assets with quality operators.  We continue to deliver excellent operational results for AngloGold Ashanti and are pleased to have the extension of the underground drilling contract for a further year."

 

 

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

 

Peel Hunt LLP                                                                       +44 20 7418 8900

Ross Allister

James Bavister

 

Tamesis Partners LLP                                                          +44 20 3882 2868

Charlie Bendon

Richard Greenfield

 

Buchanan                                                                               +44 20 7466 5000

Bobby Morse                                                                        [email protected]

James Husband

               

 

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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