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Capital Drilling Ltd chairman confident going into mining upturn

Jamie Boyton, chairman of Capital Drilling Ltd (LON:CAPD), says the firm is well positioned going into the mining upturn, both financially and operationally.
After slimming down the cost base over the last few years, it now has a healthy balance sheet and 94 rigs in good working order, he tells Proactive Investors.
On further drilling contracts, he says the firm is currently in talks over four to six possible deals,  and is confident of securing a number of them.
Eight exploration contracts were secured so far this year, with one  development contract and that’s where the market is coming back to life at the moment, he says.
It comes after the group reported a "solid" six months in which revenues grew 5% and underlying earnings (EBITDA) were stable.

Quick facts: Capital Drilling Ltd

Price: 60.5 GBX

Market: LSE
Market Cap: £82.87 m

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Capital Drilling confident of continued activity from producing mining sites

Capital Drilling Ltd (LON:CAPD) chairman Jamie Boyton caught up with Proactive London's Andrew Scott to talk through the firm's 2019 results and how they're dealing with the current uncertainty around the outbreak of coronavirus. He's expecting exploration activity to soften a little as...

on 19/3/20

2 min read