Latest news with #Geodrill
Cision Canada
7 days ago
- Business
- Cision Canada
GEODRILL ANNOUNCES SECOND QUARTER 2025 FINANCIAL RESULTS
TORONTO, Aug. 11, 2025 /CNW/ - Geodrill Limited ("Geodrill" or the "Company") (TSX: GEO) (OTCQX: GEODF), a leading West African based drilling company, reported its financial results for the three and six month period ended June 30, 2025. All figures are reported in U.S. dollars ($), unless otherwise indicated. Geodrill's financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"). Financial Overview Q2-2025: Achieved highest-ever quarterly revenue of $50.4M, a 22% increase compared to Q2-2024; Delivered record EBITDA of $13.9M, or 28% of revenue, an increase of 31% compared to Q2-2024; Generated net income of $5.3M, or $0.11 per share, compared to $4.8M, or $0.10 per share for Q2-2024; Reported other gain of US$1.6M from listed equity investments; Continued to strengthen the balance sheet, achieving Total Equity of $130.3M; Increased the total rig fleet to 99 rigs; and Ended the quarter with net cash of $4.4M (excluding lease liabilities). Operational and Strategic Q2-2025: Accelerating revenue arising from robust demand for drilling services; West Africa and Egypt continue to show strong demand, reflecting the Company's momentum in the region; Strengthened presence in South America by adding 5 rigs in Chile in advance of a significant multi-phase contract commencing in Q3-2025; and Benefited from continued strength in global gold exploration, supported by elevated gold prices averaging US$3,280. Robust gold and copper prices continue to drive momentum in drilling service demand; and Our bidding pipeline remains highly active, signaling sustained industry interest and opportunity. Financial Summary US$ 000s (except earnings per share and percentages) For the three months ended June 30, 2025 For the three months ended June 30, 2024 For the six months ended June 30, 2025 For the six months ended June 30, 2024 Revenue $50,350 $41,176 $99,102 $75,843 Gross profit $11,949 $12,721 $25,501 $20,165 Gross profit margin 24 % 31 % 26 % 27 % EBITDA (1)(2) $13,941 $10,664 $27,511 $17,328 EBITDA margin 28 % 26 % 28 % 23 % Net Income $5,328 $4,838 $10,900 $6,952 Earnings per share - basic $0.11 $0.10 $0.23 $0.15 Notes: (1) EBITDA = earnings before interest, taxes, depreciation and amortization (2) Please see " Non-IFRS Measures" below for additional discussion "This quarter, Geodrill achieved a new quarterly revenue record, underscoring the success of our operational model and our commitment to exceed our customer's expectations. Through continued substantial investments in our rig fleet, combined with our over 25 years of industry experience, we have successfully expanded our customer base and secured significant contracts that led to record quarterly revenue and EBITDA. With gold prices remaining high and strong global demand for exploration drilling, the market conditions have boosted the impact of our strategic decisions to focus on primary markets and align capacity with client needs," said Greg Borsk, Chief Financial Officer. "Our results this quarter reflect more than just strong numbers— they demonstrate an outstanding performance. As demand for high-quality drilling solutions accelerates, we are broadening our geographic reach beyond West Africa, and positioning Geodrill to capitalize on emerging growth opportunities in key resource regions. This momentum fuels our long-term vision of delivering exceptional growth and industry-leading service. Additionally, achieving record shareholder equity reflects our unwavering commitment to sustainable growth, disciplined capital management, and long-term value creation. Geodrill continues to demonstrate solid operational efficiency and prudent reinvestment of earnings. These metrics highlight our resilient balance sheet and our ability to deploy capital strategically, ensuring that shareholder value is consistently enhanced over time," stated Dave Harper, President and Chief Executive Officer. Q2 2025 Conference Call Information Conference Call Replay The conference call replay will be available from 12:00 p.m. ET on August 18, 2025 until 11:59 p.m. ET. About Geodrill Limited Geodrill has been successful in establishing a leading market position in Ghana and Cote d'Ivoire. The Company also operates in other African jurisdictions including Egypt and Senegal and is expanding its geographic presence in the South America countries of Chile and Peru. With the large fleet of multi-purpose rigs, Geodrill provides a broad selection of diverse drilling services, including exploration, delineation, underground and grade control drilling, to meet the specific needs of its clients. The Company's client mix is made up of senior mining, intermediate and junior exploration companies. Geodrill has 47,163,170 common shares outstanding. For more information: Non-IFRS Measures EBITDA is defined as Earnings before Interest, Taxes, Depreciation and Amortization and is used as a measure of financial performance. The Company believes EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties to evaluate companies in the industry. However, EBITDA is not a measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS. EBITDA should not be viewed in isolation and does not purport to be an alternative to net income or gross profit as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. EBITDA does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, and EBITDA should not be construed as an alternative to other financial measures determined in accordance with IFRS. Additionally, EBITDA is not intended to be a measure of free cash flow for management's discretionary use, as it does not consider certain cash requirements such as capital expenditures, contractual commitments, interest payments, tax payments and debt service requirements. Please see the Company's MD&A for the three month and six month period ended June 30, 2025 for the EBITDA reconciliation. Forward Looking Information This press release may contain "forward-looking information" which may include, but is not limited to the future financial or operating performance of the Company, its subsidiaries, future growth, results of operations, performance, business prospects and opportunities. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations (including negative variations) of such words and phrases, or by the use of words or phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release including, without limitation those described in the Management's Discussion & Analysis for the quarter ended June 30, 2025 and the Company's Annual Information Form dated March 26, 2025 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in such forward-looking statements, there may be other factors that may cause actions, events or results to differ from those anticipated, estimated or intended. Should one or more of these risks or uncertainties materialize or should assumptions underlying such forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this press release. The forward-looking information and forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update or review such information or statements, whether as a result of new information, future events or otherwise, except as required by law.
Cision Canada
10-07-2025
- Business
- Cision Canada
GEODRILL PROVIDES NOTICE OF SECOND QUARTER 2025 FINANCIAL RESULTS
TORONTO, July 10, 2025 /CNW/ - Geodrill Limited ("Geodrill" or the "Company") (TSX: GEO) (OTCQX: GEODF), a leading West African based drilling company, announces that the Company will release its financial results for the three and six months ended June 30, 2025, prior to the market open on Monday August 11, 2025. Following the release, management of the Company will host a conference call to discuss the financial results. Q2 2025 Conference Call Information Conference Call Replay The conference call replay will be available from 12:00 p.m. ET on August 18, 2025 until 11:59 p.m. ET. About Geodrill Limited Geodrill has been successful in establishing a leading market position in Ghana and Cote d'Ivoire. The Company also operates in other African jurisdictions including Egypt and Senegal and is expanding its geographic presence in the South America countries of Chile and Peru. With the large fleet of multi-purpose rigs, Geodrill provides a broad selection of diverse drilling services, including exploration, delineation, underground and grade control drilling, to meet the specific needs of its clients. The Company's client mix is made up of senior mining, intermediate and junior exploration companies. SOURCE Geodrill Ltd.
Yahoo
13-05-2025
- Business
- Yahoo
Geodrill Ltd (GEODF) Q1 2025 Earnings Call Highlights: Record Revenue and Strategic Expansion
Revenue: $48.8 million for Q1 2025, a 41% increase from $34.7 million in Q1 2024. Gross Profit: $13.6 million, representing 28% of revenue, up from $7.4 million or 21% of revenue in Q1 2024. EBITDA: $13.6 million or 28% of revenue, compared to $6.7 million or 19% of revenue in Q1 2024. Net Income: $5.6 million, or $0.12 per share, compared to $2.1 million, or $0.04 per share, in Q1 2024. Shareholder Equity: $125 million, an 11% year-over-year increase. Drill Rig Fleet: Increased to 98 drill rigs by the end of Q1 2025. Warning! GuruFocus has detected 8 Warning Signs with GEODF. Release Date: May 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Geodrill Ltd (GEODF) achieved record revenue of $48.8 million for Q1 2025, marking a 41% increase compared to Q1 2024. The company reported a significant improvement in EBITDA, which more than doubled year-over-year, reaching $13.6 million. Earnings per share increased by 160% year-over-year to $0.12, just shy of the company's previous record. Geodrill Ltd (GEODF) secured multi-rig contracts in core markets like West Africa and expanded markets such as Egypt and South America, enhancing revenue visibility for the next three to five years. The company has successfully expanded into the South American market, contributing to its revenue growth and operational success. Despite strong financial performance, Geodrill Ltd (GEODF) is trading below its book value, indicating potential undervaluation in the market. The company faces inflationary pressures in the mining sector, which could impact future profitability. Geodrill Ltd (GEODF) has a high dependency on gold, with 90% of its drilling focused on this commodity, which could pose a risk if gold prices fluctuate. The company is operating at near full capacity with a 75% rig utilization rate, limiting immediate growth potential without acquiring more rigs. Geodrill Ltd (GEODF) has significant debt on its balance sheet, with interest rates around 10%, which is considered expensive. Q: Can you provide a breakdown of growth by geography, particularly with new contracts in West Africa and South America? A: Growth is strong across all regions, driven by high gold prices. West Africa and Egypt are key gold markets, while South America is seeing significant growth, particularly in copper. Overall, revenue increased by 41% quarter-on-quarter, with contributions from all regions. (David Harper, CEO & Gregory Borsk, CFO) Q: Given the 41% year-over-year growth, should we expect more accelerated growth compared to historical performance? A: While we don't provide guidance, we expect Q2 to be flat or slightly improved year-over-year. Last year's Q2 was a record, so matching or beating it would be significant. The strong Q1 growth was partly due to a slow start in Q1 2024. (David Harper, CEO & Gregory Borsk, CFO) Q: What is the current commodity mix for revenue, and how might it change? A: Currently, 90% of our drilling is for gold and 10% for copper. As we deploy more rigs in copper regions, the copper share may increase, but gold remains predominant. (Gregory Borsk, CFO & David Harper, CEO) Q: How does the current drill demand compare to your fleet size and availability? A: Rig utilization is at 75%, effectively 100% when accounting for operational constraints. We continue to add rigs from cash flow to meet demand, and we plan to exceed 100 rigs soon. (David Harper, CEO & Gregory Borsk, CFO) Q: What are your plans for using excess free cash flow, considering your strong financial performance? A: We plan to balance between dividends, stock buybacks, and strengthening the balance sheet. We aim to reach 100 rigs before shifting focus to cash generation and shareholder returns. (David Harper, CEO & Gregory Borsk, CFO) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Cision Canada
12-05-2025
- Business
- Cision Canada
GEODRILL ANNOUNCES ANNUAL AND SPECIAL MEETING VOTING RESULTS
TORONTO, May 12, 2025 /CNW/ - Geodrill Limited ("Geodrill" or the "Company") (TSX: GEO), a leading West African based drilling company, announced the voting results of its Annual and Special Meeting of Shareholders (the "Meeting") held on May 12, 2025. The nominees listed in the management information circular dated April 2, 2025 were elected as directors of the Company at the Meeting. Detailed results of the vote are set out below: Note: Numbers do not add due to rounding. At the Meeting, the shareholders also re-appointed PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the auditors of the Company and passed a special resolution authorizing the Corporation to purchase its own shares through a substantial issuer bid or normal course issuer bid as set forth in the management information circular dated April 2, 2025. About Geodrill Limited About Geodrill Limited Geodrill has been successful in establishing a leading market position in Ghana and Cote d'Ivoire. The Company also operates in other African jurisdictions including Egypt and Senegal and is expanding its geographic presence in the South America countries of Chile and Peru. With the large fleet of multi-purpose rigs, Geodrill provides a broad selection of diverse drilling services, including exploration, delineation, underground and grade control drilling, to meet the specific needs of its clients. The Company's client mix is made up of senior mining, intermediate and junior exploration companies. Forward Looking Information This press release may contain "forward-looking information" which may include, but is not limited to the future financial or operating performance of the Company, its subsidiaries, future growth, results of operations, performance, business prospects and opportunities. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations (including negative variations) of such words and phrases, or by the use of words or phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release including, without limitation those described in the Management's Discussion & Analysis for the quarter ended March 31, 2025 and the Company's Annual Information Form dated March 26, 2025 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in such forward-looking statements, there may be other factors that may cause actions, events or results to differ from those anticipated, estimated or intended. Should one or more of these risks or uncertainties materialize or should assumptions underlying such forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this press release. The forward-looking information and forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update or review such information or statements, whether as a result of new information, future events or otherwise, except as required by law. SOURCE Geodrill Ltd.
Cision Canada
12-05-2025
- Business
- Cision Canada
GEODRILL ANNOUNCES FIRST QUARTER 2025 FINANCIAL RESULTS
-Strong Commodity Prices and Robust Demand Drives Record Revenue and EBITDA- TORONTO, May 12, 2025 /CNW/ - Geodrill Limited ("Geodrill" or the "Company") (TSX: GEO) (OTCQX: GEODF), a leading West African based drilling company, reported its financial results for the three months ended March 31, 2025. All figures are reported in U.S. dollars ($), unless otherwise indicated. Geodrill's financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"). Financial Overview Q1-2025: Generated record revenue of $48.8M, a 41% increase compared to Q1-2024; Delivered record EBITDA of $13.6M, or 28% of revenue, a 104% increase compared to Q1-2024; Achieved net income of $5.6M, or $0.12 per share, compared to net income of $2.1M or $0.04 per share for Q1-2024; Achieved Total Equity of $125M, an increase of 11% compared to Q1-2024; and Generated Return on Capital Employed (ROCE) of 18% and Return on Equity (ROE) of 10%, reflecting strong capital efficiency and profitability. Operational and Strategic Q1-2025: Averaged 75% rig utilization on the enlarged fleet during the quarter compared to 65% in Q1-2024; Strengthened operations in West Africa and Egypt, repositioning rigs for continued growth; Expanded presence in South America by adding additional rigs to meet customer demand; and Increased the rig fleet to 98 rigs, adding 3 rigs during the quarter. Outlook: Demand for our services remains strong despite tariff concerns; Strong gold and copper prices continue to fuel demand for drilling services; and Pipeline of bidding remains very active. Financial Summary Results in US$ 000s (except earnings per share and percentages) For the three months ended Mar 31, 2025 For the three months ended Mar 31, 2024 Revenue 48,752 34,667 Gross profit 13,552 7,445 Gross profit margin 28 % 21 % EBITDA(1)(2) 13,569 6,663 EBITDA margin 28 % 19 % Net Income 5,572 2,114 Earnings per share- basic 0.12 0.04 Notes: (1) EBITDA = earnings before interest, taxes, depreciation and amortization. (2) Please see " Non-IFRS Measures" below for additional discussion. "Our exceptional performance in the first quarter underscores the strength of management's strategy – sharply focused on core markets and meeting increasing client demand through strategic rig fleet expansion," commented Greg Borsk, Chief Financial Officer. "With gold prices reaching new highs and a strong focus on gold drilling, Geodrill continues to consistently deliver robust revenue growth." Dave Harper, President and CEO, stated, "Our strong financial foundation and efficient operations has driven an outstanding financial performance this quarter. With the tailwind of a strong gold price and our expanded presence in South America, we are well positioned to further strengthen revenue growth. Importantly, our business continues to focus on delivering long-term success and value to our shareholders." Geodrill's consolidated financial statements and management's discussion & analysis ("MD&A"), for the three months ended March 31, 2025, are available via Geodrill's website at and will be available on SEDAR+ at Following the release, management of the Company will host a conference call at 10:30 am ET to discuss the financial results. Q1 2025 Conference Call Information Conference Call Replay Telephone: Toll Free Replay (North America) 1-888-660-6345 International Replay 1-289-819-1450 Entry Code: 90808 # The conference call replay will be available from 12:00 p.m. ET on May 19, 2025 until 11:59 p.m. ET. The Company will hold its Annual and Special Meeting of Shareholders (the "Meeting") at the Company's office at Ragnall House, 18 Peel Road, Douglas, Isle of Man, IM1 4LZ on Monday May 12, 2025, at 10:00am ET. The Company will only conduct the formal legal business at the Meeting and provide access via a teleconference. The Company requests that shareholders vote in advance by voting on-line as noted on their proxy form, or sending in their proxy forms as outlined in the Management Information Circular filed on SEDAR on April 2, 2025 and mailed to shareholders. You can join the call by dialing 1-888-699-1199 or 416-945-7677. A live audio webcast of the conference call will also be available through: About Geodrill Limited Geodrill has been successful in establishing a leading market position in Ghana and Cote d'Ivoire. The Company also operates in other African jurisdictions including Egypt and Senegal and is expanding its geographic presence in the South America countries of Chile and Peru. With the large fleet of multi-purpose rigs, Geodrill provides a broad selection of diverse drilling services, including exploration, delineation, underground and grade control drilling, to meet the specific needs of its clients. The Company's client mix is made up of senior mining, intermediate and junior exploration companies. Non-IFRS Measures EBITDA is defined as Earnings before Interest, Taxes, Depreciation and Amortization and is used as a measure of financial performance. The Company believes EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties to evaluate companies in the industry. However, EBITDA is not a measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS. EBITDA should not be viewed in isolation and does not purport to be an alternative to net income or gross profit as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. EBITDA does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, and EBITDA should not be construed as an alternative to other financial measures determined in accordance with IFRS. Additionally, EBITDA is not intended to be a measure of free cash flow for management's discretionary use, as it does not consider certain cash requirements such as capital expenditures, contractual commitments, interest payments, tax payments and debt service requirements. Please see the Company's MD&A for the three months ended March 31, 2025 for the EBITDA reconciliation. Forward Looking Information This press release may contain "forward-looking information" which may include, but is not limited to the future financial or operating performance of the Company, its subsidiaries, future growth, results of operations, performance, business prospects and opportunities. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations (including negative variations) of such words and phrases, or by the use of words or phrases that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release including, without limitation those described in the Management's Discussion & Analysis for the quarter ended March 31, 2025 and the Company's Annual Information Form dated March 26, 2025 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in such forward-looking statements, there may be other factors that may cause actions, events or results to differ from those anticipated, estimated or intended. Should one or more of these risks or uncertainties materialize or should assumptions underlying such forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this press release. The forward-looking information and forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update or review such information or statements, whether as a result of new information, future events or otherwise, except as required by law.
