Established in 1998, Geodrill Limited (“Geodrill”) is a leading West African based drilling company with a fleet of 45 drill rigs that provides exploration and development drilling services to major, intermediate and junior mining companies with exploration, development and production operations.
Geodrill commenced operations in Ghana in September 1998 with one drill rig. Since 1998, Geodrill has grown from operating one rig to 39 rigs and expanded from conducting its operations solely in Ghana to having operated in Burkina Faso, Cote d’Ivoire, Niger, Guinea, Togo, Mali and is now entering the African Copperbelt. Geodrill provides a broad selection of diverse drilling services (both exploration and delineation) to meet the specific needs of its clients. By offering surface drilling as well as specialized and more routine drilling services, Geodrill has established itself as a “one-stop shop” for drilling services, which it believes is a strong selling feature. In providing this diverse range of drilling services, Geodrill is able to leverage its performance in one aspect of the drilling cycle to position itself favourably for other projects for the client. Geodrill continually evaluates its suite of offered services with a view to maintaining a leadership position in the industry.
Geodrill’s multi-purpose rigs offer the versatility of being able to perform both reverse circulation (“RC”) and diamond core (“Core”) drilling and can be switched interchangeably mid-way through a hole with little effort or down-time. This provides clients with the advantage of drilling both RC and Core to complete the hole, avoiding the need to have two types of rigs on site. Having the ability to perform both RC and Core drilling saves the client standby charges, preparation charges and mobilization charges that would normally be associated with switching rigs, effectively reducing the actual cost per metre associated with a drill program. Geodrill also provides Air-core drilling which is often used in first pass exploration drill programs by exploration mining companies.
Geodrill strives to be the preferred drilling partner in Africa by providing the safest, most cost-effective drilling services with minimal environmental impact. The Company plans to maintain its relationships with existing customers and develop new customers, both in existing markets and in new markets (geographical and drilling service markets). In order to achieve its goals, the Company will work towards achieving the highest safety standards and focus on customers’ needs by responding rapidly to their needs. In December 2010, Geodrill completed its initial public offering and listing on the Toronto Stock Exchange. The Company’s ticker symbol on the Toronto Stock Exchange is “GEO”.