Re: Looks like the rats are running for the hills.
in response to
by
posted on
Jun 09, 2011 01:28PM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
Here is the information I received from Sunny
This is Sunny Pannu with Energold Drilling (EGD:TSX-V), I handle the investor relations for the company. Thank you for your support and interest in the company. Please see below for some additional information as I have also attached our corporate presentation. Here is a link to a video showcasing our drills in operationClick Here
The drills are made in Vancouver and our warehouse is located here as well. We have started to manufacture a few rigs and parts offshore mainly to keep inventories local for ease of access to various drill programs.
Energold Drilling (EGD:TSX-V)
· Record revenues of $22.7 million, up 181% from $18.1 million for the first quarter of 2010
· Another profitable quarter of $1.9 million in consolidated net earnings, as compared to a $1.3 million net loss in the same period of 2010
· Gross margins improved to 28.3% in the first quarter, compared to 14.7% in the comparative quarter in 2010 and 18.6% in the prior quarter
· Drilled a new record of 125,800 meters, up 132% from 54,300 meters drilled in the same period of 2010, and up 22% from the prior quarter
· Company had 110 drilling rigs with an additional 5 more rigs under construction in response to continued demand for highly mobile drilling rigs and increased exploration expenditures in frontier drilling.
· The Dando team has a long and proven track record of profitably designing and manufacturing specialty/customized drilling rigs and associated equipment for water well, mineral exploration and geotechnical drilling companies operating throughout the world. Dando has also supplied water well drilling services to many international institutions.
· Energold has acquired all the outstanding shares of Dando for Pound Sterling 50,000 (CDN$80,000). The Energold Group will assume Pound Sterling 560,000 (CDN$887,000) of creditor debt and transaction costs, payable over three years.
· Dando currently has existing contracts to build and deliver 17 rigs plus additional parts and supplies valued at approximately Pound Sterling 6.7 million (CDN$10.6 million) to solid creditworthy institutions and another three contracts valued at Pound Sterling 1.1 million (CDN$1.7 million) in negotiation to be shipped to locations around the world.
Energold quick facts:
Kindest Regards,
Sunny
Sunny Pannu
Investor Relations
Energold Drilling (EGD:TSX-V)
1100-543 Granville Street
Vancouver, BC
V6C 1X8
Ph: 604-681-9501 ext. 132
Email: spannu@energold.com
Bart