News about Geodrill

Geodrill (TSE:GEO) CEO Dave Harper told the LD Micro conference that the drilling contractor is benefiting from strong gold and copper exploration demand, while working to restore margins squeezed by higher diesel and operating costs tied to an oil shock. The company, founded in 1998 with one rig, now runs more than 100 rigs across five countries on two continents, and Harper called it the third-largest pure-play exploration mineral driller. Revenue grew at a 15% compound annual rate from 2014 to 2025, compared with 9% growth in the rig fleet, and each rig added an average of about $2.2 million to revenue. To restore margins, Geodrill is raising prices on new contracts and repricing underperforming ones, and it reported record second-quarter revenue of $55 million, up 10% year on year, with a 16% gross margin and a 14% EBITDA margin. Harper aims to return to EBITDA margins near 20%, and analysts forecast third-quarter revenue of $51 million versus $39 million a year earlier.