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Capital Drilling Plc

Capital Drilling Limited Secured contract extension at Geita Gold Mine, Tanzania

Commenting on the contract extension, Jamie Boyton, Executive Chairman said:

“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.”

Capital Drilling Limited (LON:CAPD), a leading drilling solutions company focused on the African markets, today announced 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.

The contract extension will commence in January 2019 and will utilise the existing underground drill rig fleet currently located at the site.

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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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.