REG - Capital Limited - Contracts Update

CapitalAnnouncement

19/06/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250619:nRSS4739Na&default-theme=true

RNS Number : 4739N  Capital Limited  19 June 2025

 

 

Capital Limited

("Capital", the "Group" or the "Company")

 

Contracts Update

 

Capital (LSE: CAPD), a leading mining services company, is pleased to announce
the award of a further significant contract at Reko Diq, as well as other
contract awards across drilling and laboratory services.

Commenting on the new contract awards, Jamie Boyton, Executive Chairman, said:

"We are seeing strong momentum across the business, as we move through Q2
2025, driven by both a successful initial ramp up of our mining contract at
Reko Diq and through the award of multiple new contracts. We are pleased to
announce our new borehole drilling services contract at Reko Diq, which is a
new revenue stream for the business, and further underpins our strong
operating relationship with Barrick. We have also been awarded a number of new
exploration drilling contracts, as the exploration market improves from the
sustained high gold prices. MSALABS, after a strong start to the year,
continues its positive trajectory with the commissioning of the
state-of-the-art commercial laboratory in Elko, Nevada and new contract awards
and extensions. We look forward to providing our Q2 trading update on 17 July
2025."

Borehole Drilling Services Contract with Reko Diq Mining Company Limited

Capital has been awarded a 3-year contract with a 1-year extension option to
provide borehole drilling services to support the development of the Reko Diq
copper-gold project, operated by Barrick.

The contract covers the drilling, casing and development of production water
holes essential for the Reko Diq project. To fulfil this contract, Capital has
purchased a specialised water bore drilling rig manufactured by Italian rig
manufacturer Fraste. The rig is now on-site and undergoing commissioning while
waiting on other critical components required to perform this multi-year
contract.

Exploration Drilling Contract Awards

Demand for exploration drilling has increased in recent months, which is
consistent with the increase seen in capital markets activity. We are pleased
to announce the award of the following exploration contracts, which will be
carried out over the next 6 months:

·      Allied Gold - Côte d'Ivoire

·      Toubani Resources - Mali

·      International Continental Scientific Drilling Program (ICDP) -
Gabon

MSALABS Contract Awards

MSALABS continues to build on its current momentum and is pleased to provide
the following update:

·      Installation and commissioning complete at our new commercial
laboratory in Elko, Nevada

We have completed the installation and commissioning of our state-of-the-art
laboratory, equipped with our third Chrysos PhotonAssay(TM) unit in the
region, and have commenced processing samples in June.

·      Contract extension at Tasiast Gold Mine, Mauritania

MSALABS has received a Letter of Award for the two-year extension of our
on-site laboratory services contract with Kinross at the Tasiast Gold Mine in
Mauritania, where we have operated since 2019.

·      New contract with WIA Gold's Kokoseb Gold Project, Namibia

MSALABS has been awarded a three-year dedicated fire assay laboratory services
contract for WIA Gold's Kokoseb Gold Project in Namibia.

Mining Contract Update at Reko Diq

Our mining contract at Reko Diq continues its ramp-up phase since its
commencement in April:

·      First tranche of the Sukari fleet has arrived on-site and will be
commissioned over the next month.

·      Second tranche of the Sukari fleet is being prepared for export
from Egypt.

·      As previously announced, the Gabon mining fleet is fully deployed
and commenced activities in April.

- ENDS -

 

For further information, please visit Capital's website www.capdrill.com or
contact:

 

Capital Limited
 
investor@capdrill.com

Jamie Boyton, Executive Chair

Rick Robson, Chief Financial Officer

Conor Rowley, Commercial, Corporate Development & Investor Relations

 

Tamesis Partners
LLP
+44 20 3882 2868

Charlie Bendon

Richard Greenfield

 

Stifel Nicolaus Europe Limited
 
+44 20 7710 7600

Ashton Clanfield

Varun Talwar

Rory Blundell

 

FTI
Consulting
+44 20 3727 1000

Ben
Brewerton
capitallimited@fticonsulting.com

Nick Hennis

Lucy Wigney
 

 

About Capital Limited

Capital Limited is a leading mining services company that provides a complete
range of drilling, mining, maintenance and geochemical laboratory solutions to
customers within the global minerals industry. The Company's services include
exploration, delineation and production drilling; load and haul services;
maintenance; and geochemical analysis. The Group's corporate headquarters are
in the United Kingdom and it has established operations in Canada, Côte
d'Ivoire, Democratic Republic of Congo, Egypt, Gabon, Ghana, Guinea, Kenya,
Mali, Mauritania, Namibia, Pakistan, Saudi Arabia, Tanzania, United States of
America and Zambia.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUWSKRVKUNAAR