Opinions
Gavin Graham
Energold Drilling Corp.
EGD-X
TOP PICK
Jan 13, 2012
Manufacture mining drill rigs. Just acquired a small oil/gas drilling business, mostly in the US. Of the 126 drills they have, almost all of them are gold drilling. Meters they have drilled has gone from 240,000 to 450,000 in the 9 months to September. Earnings have exploded. Put all their cash flow into building new rigs. $25 million cash in the balance sheet.
$4.770
Stock price when the opinion was issued
mining services
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Good crew of experienced in mine drilling. Do a lot outside the country, particularly frontier drilling. With a lot of the gold companies having raised money, they are doing a lot of drilling. Further they go a field, margins tend to increase. Virtually operating flat out. Recently did a successful issue and are all set up for mergers and takeovers.
mining services
PAST TOP PICK
(A Top Pick Oct 1/10. Up 23.43%.) Global mine driller with about 103 rigs and going to 130. Drills for a lot of juniors who have been cashed up. Further afield, the better margins because of higher risks. Has $28-$30 million in cash. Hidden asset with control of almost 7 million shares in Impact Silver (IPT-X). Would like to see this sold as they are drillers, not a silver company. A lot of potential torque as the higher gold goes, they’ll get greater market share.
mining services
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