Tag Archives: LF 160

Boart Longyear helps drillers recover more core with LF 160 drill rig updates

Mineral exploration, Mining equipment, , , , , ,

Boart Longyear is updating its LF™160 surface coring drill rig with, among other things, an inner tube that will allow drillers to retrieve a full 6-m inner tube out of the rod string using the wireline winch.

In addition, Boart is adding foldable walkways and Cummins Tier 3 engines to add efficiency and safety to its LF 160. When paired with the FL262 FREEDOM™ Loader, the LF 160 combination is, the company says, ideal for contractors who want to target sophisticated surface drilling exploration contracts that stipulate some of the highest safety standards, without compromising on productivity. The FL262 Freedom Loader is an innovative rod loading system that requires no intervention from the driller’s assistant to trip and align rods or connect to the top drive head.

The company introduced its LF 160 and FREEDOM™ Loader during MINExpo 2016.

The 6-m inner tube, coupled with the capability of handling full PQ inner tubes, means the LF 160 delivers more operating efficiency, reducing the frequency of retrieving the inner tube, which in turn decreases downtime, the company said.

Erik Gaugh, Product Manager – Capital Equipment, said: “Compared to a standard 3-m system, the 6-m inner tube system can deliver efficiencies of up to 50% for deeper holes. We anticipate the 6-m system to be a game changer for many of our customers.”

Foldable walkways are available on the LF 160T (truck) and are integrated on both sides of the rig with railings and kick plates, the company explained. The walkways provide safe access to the elevated rig platform on the truck chassis and eliminates the need for fall arrest protection. The walkways hydraulically fold in and out without the need for manual manipulation to further reduce the potential for hand injuries, Boart explained.

The company concluded: “Boart Longyear is committed to providing the safest, most productive, and most reliable rigs in the industry. The foldable platforms, 6-m inner tube system and Cummins Tier 3 engines are continued proof of that commitment.”

Mitchell Services bolsters drilling fleet as it senses market opportunities

Mining equipment, Mining finance, Mining services, , , ,

Mitchell Services, noting the strongest demand for drilling services since 2008, is raising funds to take advantage of opportunities in its native Australian market.

The company is undertaking a fully underwritten accelerated non-renounceable entitlement offer to raise around A$10.5 million ($7.7 million) to support funding of a sizeable organic growth opportunity, it said.

The ASX-listed company expects to generate revenue of A$200-$220 million and EBITDA of A$40-44 million in its 2022 financial year to June 30, 2022.

Mitchell has a material capital investment program underway, which includes the purchase of nine Boart Longyear LF™ 160 drill rigs with a staggered delivery through until December 31, 2021, and includes an option for an additional three rigs.

Boart’s LF 160 coring rigs come with a depth capacity of 1,800 m (NRQ™ V-Wall), according to Boart (photo supplied by Boart).

Based on the anticipated size of the fleet, post-implementation of the growth strategy, the business would have the capacity to generate A$50-$60 million EBITDA and to deliver material earnings per share growth, it said.

These rigs were pre-ordered and will be delivered during a period of significant and increasing lead times for rig supply, Mitchell added.

“Other barriers to entry for mining services providers are high and growing, including challenging access to funding with limited lender appetite in the sector, a tightening labour market and a highly complex regulatory environment,” Mitchell Services said. “The company is expecting business conditions to continue improving in the near term with productivity increases (utilised rigs working more shifts), price increases due to the evolving supply and demand landscape, and improvements in general contract terms (for example, larger mobilisation and demobilisation charges, take or pay contracts and pricing flexibility).”