Geodrill Limited
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- David Michael Harper
- Full Time Employees
- 1,575
- Sector
- Basic Materials
- Industry
- Industrial Materials
- Address
- Ragnall House Douglas Isle of Man IM1 4LZ
- IPO Date
- Mar 14, 2012
- Website
- geodrill-gh.com
- Similar Companies
- Business
- Geodrill Limited is an Isle of Man-based exploration drilling company specializing in mineral exploration drilling services primarily across Africa and South America. The company operates a fleet of 95 multi-purpose and specialized drill rigs providing a comprehensive range of drilling services including reverse circulation (RC), diamond core, deep directional Navi drilling, air-core, grade control, geo-tech, water borehole, underground, and horizontal drilling. Geodrill offers its drilling services to major, intermediate, and junior mining companies, predominantly targeting gold and base metal exploration markets. Its geographic footprint spans West Africa countries such as Ghana, Côte d'Ivoire, Senegal, Burkina Faso, and Mali; North Africa through Egypt; and South America including Chile and Peru. Incorporated in 1998, the company is headquartered in Douglas, Isle of Man. Recent major developments include the acquisition in November 2024 of shares in a publicly listed client company in exchange for $7.7 million in outstanding receivables, a transaction expected to reverse a significant credit loss. During 2024, Geodrill expanded its drilling rig fleet from 83 to 95 rigs to meet increased demand and secured multiple long-term, multi-rig contracts with top-tier mining companies, particularly strengthening its underground drilling operations in Egypt, alongside increased surface activities. The company also divested its final drilling project in Mali, redeploying assets to neighboring regions to optimize operational efficiency. Additionally, Geodrill incorporated a new entity in Saudi Arabia in late 2024 to pursue new tender opportunities in the Middle East, signaling geographic expansion beyond its traditional African and South American markets. These strategic moves have contributed to record revenue and improved profitability in 2024, positioning the company for robust growth and increased market penetration through 2027. Geodrill's product offerings include a fleet comprising multi-purpose rigs capable of switching seamlessly between reverse circulation and core drilling, specialized core and air-core rigs, grade control rigs, underground rigs designed for high mobility and versatility, as well as drilling support equipment such as boosters, auxiliary compressors, crawler-mounted rod carriers, and ancillary vehicles. The company's innovative rig technologies and modular designs allow operations in complex underground environments with efficient transitions and high-quality sampling. This broad and modern equipment fleet supports a diversified client base in mineral exploration, ensuring high operational flexibility and capacity to meet varying project requirements across multiple jurisdictions.
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