MONCTON, N.B. – Landdrill International Inc. (TSXV:LDI) announced Monday that it has secured “record drilling commitments” from mining companies in Canada and internationally for 2012.
The value of the contracts was not disclosed by the New Brunswick-based contract driller.
However, president and CEO Ron Goguen Sr. said the new contracts “demonstrate the continued growth strategy of the company.”
“The acquisition of drills during 2011 has permitted the company to increase its market share,” Goguen added.
Landdrill said it has contracts with Canadian base metal and precious metal mining companies for drilling totalling more than 300,000 metres in Quebec, Ontario and Labrador.
The projects will require the use of 18 of the company’s Canadian-based drills and represents an additional 100,000 metres booked compared with Feb. 20, 2011.
The company’s Mexican operations also appear poised for record growth in 2012, Landdrill said. Mexican contractual commitments to date for 2012 exceed 200,000 metres.
Meanwhile, the company says demand in Mongolia remains high and further commitments are expected in the near future.
“We anticipate that these commitments will represent an increase in revenues from our Mongolian branch over 2011,” the company said.
