Capital Drilling Limited Contract Extension at North Mara (9214Z)

TIDMCAPD

RNS Number : 9214Z

Capital Drilling Limited

20 December 2017

 
 For Immediate Release   20 December 2017

Capital Drilling Limited

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

Contract Extension at North Mara

Contract Extension in North Mara

Capital Drilling Limited (CAPD:LN), the Africa focused drilling company, is pleased to announce that it has signed a two year extension agreement (the "agreement") at Acacia's North Mara mine, for the continued provision of blast hole and grade control drilling services.

Capital Drilling has been active at the North Mara Mine since 2008, and commenced the full service production drilling contract in 2016. The extended agreement now runs to December 2019 and reflects the Group's strong operational performance over the initial two-year contract term. There are currently five rigs on site carrying out blast hole and grade control drilling services, which we expect to remain in place for the duration of the contract.

Commenting on the contract extension, Jamie Boyton, Chairman said:

"Capital Drilling has been working with Acacia for nine years and we are delighted to continue this relationship as the demand for our services continues. This contract extension is a testament to the Group's solid operational performance and is consistent with our expectations."

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

Capital Drilling Limited +230 464 3250

Jamie Boyton, Executive Chairman investor@capdrill.com

André Koekemoer, Chief Financial Officer

finnCap Ltd +44 20 7220 0500

Christopher Raggett, Corporate Finance

Emily Morris/Simon Johnson, Corporate Broking

Tamesis Partners LLP +44 20 3882 2868

Charlie Bendon

Richard Greenfield

Buchanan +44 20 7466 5000

Bobby Morse capitaldrilling@buchanan.uk.com

Gemma Mostyn-Owen

About Capital Drilling

Capital Drilling provides specialised drilling services to mineral exploration and mining companies in Africa and other emerging and developing market for exploration, development and production stage projects. The Company currently owns and operates a fleet of 92 drilling rigs with established operations in Botswana, Egypt, Ethiopia, Ghana, Ivory Coast, Kenya, Mali, Mauritania, Serbia and Tanzania. The Group's corporate headquarters is in Mauritius.

This information is provided by RNS

The company news service from the London Stock Exchange

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