SWK swick mining services ltd

It just doesn't happen

  1. 1,427 Posts.
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    Record number of rigs in operation and expected to exceed target 70 Underground Diamond (UD) rigs in work by the end of FY20
    This was late 2019

    Strategic review originally announced Feb 2020 nearly twelve months ago. No subsequent revenue announcements for Orexplore.

    Strong utilisation in the UD division with 13 rigs operating internationally, 25 in Western Australia and 20 across the rest of Australia as at December 2020
    That adds up to 58 in work 20 percent below previously advised target mid year target.

    Shareholders will be updated with specifics around the process, related documentation and its timing early in the new year.
    I
    t is now early in the new year

    Total fleet of 83 rigs with three currently in build: 77 underground diamond core drills - 69 Swick

    mobiles, 5 Nevada skid rigs.

    • 3 DeepEX rigs (currently in build)
      So potentially 70 percent
      utilisation


      Sorry peoples but this is looking pretty ordinary.

 
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