Company
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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“We are closely monitoring developments and keeping our employees safe remains our first priority," said chairman Jamie Boyton.
The drilling contractor expects exploration work will be dented but gold producers will likely see increased cash flows from operations
"We experienced another strong year during 2019,” said Jamie Boyton.
“2019 is shaping up to be a very healthy year for Capital Drilling," says Peel Hunt analyst Peter Mallin-Jones.
Capital Drilling's growth efforts are now bearing fruit with strong exploration contracting, mobilisation activity and broader service offering
“Load and haul operations are a natural extension to our existing world-class drilling and maintenance capabilities."
"Mining companies are generating stronger cash flows that are driving increased exploration budgets."
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A glance at some of the day's highlights from the Proactive Investors newswire
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
$2 million placement completed to fund exploration in Burkina Faso and Western Australia.
PDI has West African gold projects in Cote d’Ivoire, Guinea and Burkina Faso.
Capital Drilling is listed on the London Stock Exchange and employs 1,000 people in Africa.
Investments and investor services
The UK blue-chip index finished down nearly six points at 7,428 on Friday
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Alongside RBS, AstraZeneca, Just Eat, WPP and Pearson are all due to publish first-quarter trading updates on Friday
The broker said stronger metal prices and cash flows “should lead to further increases in exploration budgets”, particularly for gold
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A glance at some of the day's highlights from the Proactive Investors newswire
