Capital Drilling returns to profitability in first half as revenues soar
“The improved revenue and profit for the group reflects a solid performance across the core contracts, underpinned by the improved market conditions”
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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FTSE 100 closes in the red but gold price boosts miners
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Capital Drilling says engaged with advisors in Tanzania to determine practical application of recent legislative changes
In a statement, the AIM-listed drilling solutions company highlighted Clause 102 which legislates the provision of goods and services by Tanzanian entrepreneurs.
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A look at the week’s highlighted news for the junior miners
Good results from Capital Drilling overshadowed by Tanzania uncertainty
Revenues in the second quarter to June rose by 26% over the previous year
Tanzanian miners respond to new laws threatening to derail mining contracts
Tanzania-focused mining companies are currently reviewing new laws passed in Tanzania
Acacia Mining, Shanta Gold and Capital Drilling hit by red tape after Tanzania parliament passes new laws
Acacia Mining is among the companies affected by the Tanzania government's strict new laws
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Photonstar LED shares continue to gather pace on roll-out of internet of things systems in UK
Photonstar LED, Baron Oil and Capital Drilling are in positive territory while shares in Premier Veterinary Group, Ortac Resources and PureCircle are under the cosh
Mining resurgence means best quarter for three years for Capital Drilling
As a result, guidance for the full year has been raised to revenues of between US$120-130mln, from US$105-112mln.
Alecto Minerals powers ahead at Mowana, appoints Capital Drilling
Giant Transport, the mining contractor for the project for an initial period of six months, has started work
Capital Drilling ups forecasts as mining re-boots
Revenues are up, as are underlying earnings, while the company is also splashing the cash
Market likes Amerisur 's Colombia acquisition
Some of the main risers and fallers at 3.45pm: Amerisur Resources, PCG Entertainment
Capital Drilling's underlying earnings advance strongly as it invest US$3.8mln in labs business
Capital Drilling saw a return to revenue growth in 2016 as the company benefited from the improving market conditions, particularly in the gold sector.
Investments and investor services
FTSE 100, 250 and smallcaps all mark record highs after Fed rate hike and cap
FTSE 100 stocks ended solidly higher on Thursday after chalking a fresh record high as investors reacted to a tempered rate hike outlook in the US and relief at the defeat of the anti-immigration Freedom party in the Dutch election
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Fed fall-out, Dutch elections and Sainsbury's sales to provide food for thought
A rise is taken as read, and – assuming the Fed does not perform a triple Salchow with accompanying back-flip – the focus will be on the Fed’s commentary in its post-meeting statement.