Capital Drilling Ltd, the emerging and developing markets drilling company, has further contract wins and extensions, for Centamin Egypt, African Barrick and Thani Dubai Mining. These new contracts have increased the Company’s rig fleet from 77 rigs at the half-year end to 83 rigs currently. Jamie Boyton, Executive Chairman, said: “The new contracts with Centamin Egypt and African Barrick Gold, both of whom are long standing customers, demonstrate Capital Drilling’s robust model of operating on long life assets which are undergoing significant expansions, underpinning our ability to grow our business organically. We are also pleased to announce an extension to our existing contract with Thani Dubai at their prospective Shalateen project in Southern Egypt.”
Capital Drilling Egypt has recently been awarded a new four year production drilling contract with Centamin Egypt which renews the existing contract for the provision of blasthole and grade control drilling services at the Sukari gold mine in Egypt. Capital Drilling has been active with Centamin Egypt since 2005, commencing with exploration and development drilling before expanding into production drilling in 2008. The new production contract runs to 2015 and the company expects to deploy further production rigs to site in 2012 , consistent with Centamin’s expansion plans.
Capital Drilling Tanzania has been awarded a contract for an additional two new diamond drill rigs for development drilling at the North Mara gold mine in Tanzania. The rigs have already been mobilised to site and recently commenced drilling. Capital Drilling has been active in Tanzania since 2005 and working with African Barrick at North Mara since 2008, with operations in exploration, development and production drilling.
Capital Drilling Egypt has been awarded a contract extension in the form of additional metres for exploration drilling at the Shalateen Southern Egypt project. Capital Drilling commenced drilling for Thani Dubai in 2010. The contract amendment calls for an additional rig, which has been sourced from the existing fleet.
