12 Dec 2018 07:00
For Immediate Release | 12 December 2018 |
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Capital Drilling Limited("Capital Drilling", the "Group" or the "Company")
Contract Extension at Geita Gold Mine, Tanzania
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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.
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The contract extension will commence in January 2019 and will utilise the existing underground drill rig fleet currently located at the site.
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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.
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Commenting on the contract extension, Jamie Boyton, Executive Chairman said:
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"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."
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For further information, please visit Capital Drilling's website www.capdrill.com or contact:
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Capital Drilling Limited +230 464 3250
Jamie Boyton, Executive Chairman investor@capdrill.com
André Koekemoer, Chief Financial Officer
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Peel Hunt LLP +44 20 7418 8900
Ross Allister
James Bavister
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Tamesis Partners LLP +44 20 3882 2868
Charlie Bendon
Richard Greenfield
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Buchanan +44 20 7466 5000
Bobby Morse capitaldrilling@buchanan.uk.com
James Husband
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About Capital Drilling
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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.
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