TIE tietto minerals limited

I've said it a few times prior but TIE's own drilling fleet is...

  1. R21
    1,419 Posts.
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    I've said it a few times prior but TIE's own drilling fleet is massively underrated benefit. The rigs look like man-portable as opposed to truck/track mounted but nevertheless still very significant.

    Most contract drillers have hiked prices 15-30% globally in 2022. Yes, TIE has the same cost pressures (mainly people & pipe) but there's no margin on the drilling which would be ~40% in West Africa.

    100k of diamond drilling is worth about USD15m (approx 150p/m). Productivity aside, TIE saves approx 6m per annum by doing inhouse vs contracting. That's not even touching on lack of supply - having them in your own yard to call on when required vs finding slots amongst other contractors.
    Last edited by R21: grammar 29/06/22
 
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