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O C T O B E R / N O V E M B E R 2 0 1 8
MININGWORLD
In 15 years, Energold Drilling Corp.
[EGD-TSXV] went from a gold explora-
tion company with projects in Dominican
Republic and Mexico with one drill rig to
a global drilling contractor company with
265 drill rigs, and a thousand employees
and contract workers working in 25 coun
-
tries. Energold's acquisition of Envirodrill
Ltd. (UK), Dando International Ltd. (UK)
and Bertram International Corp. (AB) over
the last four years has expanded their
reach internationally and has diversified
their services.
Energold's drill fleet consists primarily
of highly portable diamond drilling rigs
but now includes seismic, oil sands drill
-
ing, water, geotechnical, and horizontal
directional drilling rigs. Revenue peaked
in 2011 at $133 million, with over $100
million of it from mineral drilling, and
2017 year end at time of writing recovered
to $74.9 million with over $45 million in
minerals, with expectations that 2018 rev
-
enue will recover to close to $95 million,
a nearly 30% annual increase since 2016.
(two quarters into 2018, revenues were
$47.6 million).
Fred Davidson, CEO of Energold
Drilling, spoke to Resource World about his
company's expertise and the niche mar
-
ket they serve. Davidson said, "Energold
started as an exploration company. We, in
the process of doing exploration, devel-
oped a modular drill rig which caters to
the specific needs of junior exploration
companies." The company saw an oppor-
tunity to develop a product and provide
a unique service to mining companies
exploring in remote and environmentally
sensitive areas.
The drill comes in parts, said Davidson.
"We try to make the heaviest piece no
more than 350 to 400 pounds; there are
multiple parts totalling about two tonnes.
The idea is that a few hundred pounds
can be moved into a site with six workers
carrying it in on poles without having to
build a road which saves both time and
Energold Drilling – flexible and
specialized drilling services
by Kathrine Moore
