Company
Capital Limited
LON:CAPD
Capital Limited is a leading mining services company providing a complete range of drilling, mining, maintenance and geochemical laboratory solutions to customers within the global minerals industry, focusing on the African markets. The company's services include: exploration, delineation and production drilling; load and haul services; mining equipment hire and maintenance; and geochemical analysis. Capital's corporate headquarters is in Mauritius and it has established operations in Burkina Faso, Cameroon, Côte d'Ivoire, Egypt, Guinea, Kenya, Mali, Mauritania, Nigeria, Saudi Arabia and Tanzania.
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Capital Limited remains "a conviction buy" after strong results
"With what we think is clear upside to our estimates given extremely strong trading conditions, we remain conviction buyers," Berenberg said.
Capital Limited lifts dividend 64% as profits soar and high commodity prices sparks mining boom
“Following the rise in commodity prices, we are seeing an increase in projects moving forward to development and therefore we expect the pipeline of new mining contracts to expand in the coming years,” said chairman Jamie Boyton
Capital Limited completes share buyback programme
The programme was undertaken to reduce Capital's share capital and meet obligations arising from share option initiatives.
Capital Limited says 2021 revenue slightly beat upgraded expectations
"The last financial year saw Capital deliver three record quarters of revenue growth, delivering the strongest year in our history,” said Jamie Boyton.
Capital wins surface drilling contract at Tanzania's Geita gold mine
CMS has existing contracts at Geita for surface drilling and underground grade control and exploration
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Capital Limited raises revenue target for the second time this year after strong third quarter performance
It also said it expects turnover to be in the order of US$220mln-US$225mln for 2021
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Capital Ltd portfolio soars in value as Aussie investments surge ahead
“The strong performance of the company’s listed investments, if maintained, is expected to provide a material contribution to group earnings”
Custodian REIT sells industrial properties portfolio for £32.6mln
The agreed sale price is 19% above the March 2021 valuation, when the terms of the sale were set
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Capital Ltd buoyant after best half in its history
Rig utilisation rates increased have increased to 79%, levels not seen since 2012
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Capital raises revenue forecast after record second quarter
Over the first six months of 2021, revenues rose by 52% to US$98.7mln.
Capital posts record quarterly revenue, sees strongest demand for drilling services in a decade
Plans to pay a final dividend of 1.3 US cents for 2020, up from 0.7 US cents in 2019
Capital gears up for drilling revenue growth in West Africa
The company looks set to continue its growth trend into 2021, having secured key mining service contracts, a majority stake in a laboratory business as well as almost 40 drilling rigs in the high growth region of West Africa.
Capital Limited chairman buys shares after bullish results statement
Last week the company said it is experiencing some of the most positive trading conditions in its history
Capital Ltd experiencing most positive trading conditions in its history
The company’s strong performance in 2020 was reflected in the decision to pay a final dividend of 1.3 US cents per share, up 86%
Capital wins three-year expanded contract at Geita gold mine in Tanzania
"Significantly, these contracts will bring our relationship with AngloGold Ashanti at the Geita site to 19 consecutive years"
Oracle Power appoints David Hutchins as a non-executive director with immediate effect
Hutchins has more than 30 years of experience in corporate mining and commodities
Capital Limited targets growth as it continues evolution into a full-service mining contractor
Fleet numbers around 91 rigs currently, which the company estimates is among the youngest in the industry.
Capital Limited appoints Giles Everist as its new CFO
The contractor to the mining sector said it is extremely pleased to have attracted someone of Everist's calibre
Capital Limited highlights revenue growth boosted by positive market conditions
“Capital has had an outstanding year, especially given the unprecedented challenges presented by the global COVID-19 pandemic,” executive chairman Jamie Boyton said.
Capital Limited highlights progress for Sukari mine operations
Progress has been made since the 'transformative' new contract was landed just over a month ago
Capital Limited announces successful completion of bookbuild placing raising around £30mln
The group said a total of 51,800,000 shares had been placed, at a price of 58p each raising gross proceeds of approximately £30mln
Capital Limited lands transformative new deal with Centamin
The contractor to the mining sector said the new deals for Centamin's Sukari gold mine will generate between US$235mln and US$260mln of revenue over a four year period
Capital Limited announces expansion of operations at Barrick's Bulyanhulu Gold Mine in Tanzania with the award of two new contracts
The contracts include a five-year laboratory services contract for MSALABS, together with a two-year underground grade control drilling contract.
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Capital Limited announce award of new contract and subsequent mobilisation of an initial four drill rigs to Firefinch in Mali
The contract with Firefinch further strengthens Capital's footprint in Southern Mali, complementing its existing long-term contracts with Hummingbird Resources (Yanfolila) and Resolute Mining (Syama)
Capital Limited gets new target and upgrade from Peel Hunt
An additional six mining service contract tenders are outstanding at present
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Berenberg raises Capital target price after strong quarter
Analysts bumped up the full-year revenue forecast to US$136mln from US$133mln
Capital Ltd reports higher revenues as fleet utilisation picks up in third quarter
The Africa-focused mining services firm also highlighted “continued solid operational profitability” and that the coronavirus pandemic is continuing to have “no material impact” on its operations
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Capital Ltd on the cusp of a meaningful equity re-rating, says Berenberg
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Capital gets target price upgrade as gold drilling activity increases
Strong demand for drilling services is anticipated once the West African wet season has passed.
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Capital Limited reaping benefits from the increased gold price
Around half of the company's first-half profits came from unrealised returns from its equity investments in exploration and mining companies
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"Capital has performed strongly in the first half of the year, despite the challenges presented by the global COVID-19 pandemic,” said executive chairman Jamie Boyton
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Capital Drilling confirms positive first quarter, operations remain “largely unaffected” by coronavirus
“We are closely monitoring developments and keeping our employees safe remains our first priority," said chairman Jamie Boyton.
Capital Drilling says coronavirus impact remains unquantifiable as it posts full-year results
The drilling contractor expects exploration work will be dented but gold producers will likely see increased cash flows from operations
Capital Drilling reveals Q4 revenue boost as it ended 2019 strongly
"We experienced another strong year during 2019,” said Jamie Boyton.
Analyst cheers Capital Drilling Ltd’s busy end to 2019 as the contractor boast quarterly-on-quarter revenue growth
“2019 is shaping up to be a very healthy year for Capital Drilling," says Peel Hunt analyst Peter Mallin-Jones.
Capital Drilling highlights quarter-on-quarter growth as it gears up for busier end to 2019
Capital Drilling's growth efforts are now bearing fruit with strong exploration contracting, mobilisation activity and broader service offering
Capital Drilling wins first full service mining contract at Allied Gold's Bonikro mine
“Load and haul operations are a natural extension to our existing world-class drilling and maintenance capabilities."
Capital Drilling in chipper mood as gold price strength underpins prospects
"Mining companies are generating stronger cash flows that are driving increased exploration budgets."
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Capital Drilling points to “encouraging signs” in gold market going forward as first-half revenues rise
The drilling services group said recent firmness in the price of the yellow metal was driving “renewed interest” in exploration and increasing the budgets of its customers
Arrow Minerals shares rise on acquiring drill-ready gold projects in Burkina Faso
$2 million placement completed to fund exploration in Burkina Faso and Western Australia.
Predictive Discovery managing director buys share on-market
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Predictive Discovery has new major shareholder in Capital Drilling
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Investments and investor services
FTSE 100 closes just in red as crude price decline hits resource stocks
The UK blue-chip index finished down nearly six points at 7,428 on Friday
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Capital Drilling “well positioned” to benefit from likely increase in exploration budgets, says Peel Hunt as it initiates at ‘buy’
The broker said stronger metal prices and cash flows “should lead to further increases in exploration budgets”, particularly for gold
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Capital Drilling says first quarter was ‘in line’ as strong performance continued
"Capital Drilling's trading performance in Q1 2019 was in line with expectations, with a continued strong performance from our key long-term contracts and a new exploration contract award in Burkina Faso”
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FTSE 100 closes lower ahead of the Easter weekend
The UK's premier stock index finished down around 11 points at 7,459
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Capital Drilling highlights “a year of significant progress” as it reveals 2018 revenue, profit growth
The group reported US$116mln of revenue, slightly above guidance of US$105mln to US$115mln, while underlying earnings (EBITDA) rose by 16% to US$28.3mln
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Footsie closed around 26 points higher at 7,185, while FTSE 250 added around 103 points at 19,283
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Golden Rim Resources attracts $2.25 million to advance Kouri Gold Project in Burkina Faso
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Capital Drilling boasts strong performance boosted by West Africa activity
"Capital Drilling's trading performance in 2018 was strong, particularly in the second half of the year which saw the group accelerate its penetration into the fast growth West African mineral drilling industry”
Capital Drilling clinches new contracts and key renewals following strong first half
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Capital Drilling extends Geita contract with Anglo Gold Ashanti
The contractor will continue operations at the mine where it has worked since 2006
FTSE 100 closes higher on speculation Prime Minister May will survive Brexit-related no-confidence vote
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