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24 Oct 2018 08:21
For Immediate Release | 24 October 2018 |
Capital Drilling Limited
("Capital Drilling", the "Group" or the "Company")
Contract Win
Capital Drilling Limited (CAPD:LN), a leading drilling solutions company focused on the African markets, is pleased to announce that it has been successfully awarded a delineation drilling contract with Canadian-based Sama Resources Inc. ("Sama") at its Yepleu property in Côte d'Ivoire. Drilling is anticipated to commence in November with the initial program being 6,000 metres of diamond core drilling, targeting semi-massive and massive polymetallic sulphide targets for Nickel-Copper-Cobalt-Palladium.
The contract is Capital Drilling's first in the country following its strategic expansion into West Africa where the Company now has 31 rigs, representing a third of its rig fleet. This contract will initially utilise two diamond drill rigs, sourced from the Group's base in Yamoussoukro, which was established in H1 2018 as part of the Group's strategic growth focus into the West African market.
Commenting on the award of the Sama contract, Jamie Boyton, Executive Chairman, said:
"It is very pleasing to see our increased presence in the high-growth West African region continue to deliver results and we look forward to starting our first contract in Côte d'Ivoire. With the increased fleet and new infrastructure in place, we are well positioned to continue to secure additional work in the country in the future."
For further information, please visit Capital Drilling's website www.capdrill.com or contact:
Capital Drilling Limited +230 464 3250
Jamie Boyton, Executive Chairman investor@capdrill.com
André Koekemoer, Chief Financial Officer
finnCap Ltd +44 20 7220 0500
Christopher Raggett, Corporate Finance
Camille Gochez, Corporate Broking
Tamesis Partners LLP +44 20 3882 2868
Charlie Bendon
Richard Greenfield
Buchanan +44 20 7466 5000
Bobby Morse capitaldrilling@buchanan.uk.com
Gemma Mostyn-Owen
About Capital Drilling
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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