Energold remains committed to expanding its business across all drilling platforms depending on market conditions. While the Company was founded on the basis of mineral drilling, management continues to evaluate new ways to expand its global drilling solutions platform. The entrance into the energy drilling and manufacturing markets in recent years has started to provide value to shareholders. New markets including water, a geographical expansion of the seismic business into Latin America, as well as new opportunities for technical and diversified commodity drilling are considered on an ongoing basis as the Company seeks the most efficient use of its strong balance sheet and low debt levels.
Energold Drilling Corp. is a leading global specialty drilling solutions company that services the mining, energy, water and manufacturing sectors in 24 countries. Specializing in a socially and environmentally sensitive approach to drilling, Energold provides a comprehensive range of drilling services from early stage exploration to onsite operations for the metals, energy and water sectors, including an established drill rig manufacturer, Dando Drilling International Ltd. Energold also holds 6.98 million shares of IMPACT Silver Corp., a profitable silver producer in Mexico.
On behalf of the Directors of Energold Drilling Corp.,
Frederick W. Davidson, President, CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Non-IFRS measures:
The Company uses both IFRS and non-IFRS measures to assess performance and believes the non-IFRS measures provide useful information to investors to help in evaluating the Company's performance. The Company's method of calculating these non-IFRS measures may differ from other entities and, accordingly, may not be comparable to measures used by other entities. Investors are cautioned, however, that these measures should not be construed as an alternative to measures determined in accordance with IFRS as an indicator of the Company's performance.
Cautionary Note Regarding Forward-Looking Statements:
Except for historical information, this earnings release may contain forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievement expressed or implied by these forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "estimates", "plans", "intends", "anticipates", or the negative of those words or other similar or comparable words. Forward-looking statements may relate to future financial conditions, results of operations, plans, objectives, performance or business developments.
The factors that could cause actual results to differ materially include, but are not limited to, the following: general economic conditions; changes in financial markets; the impact of exchange rates; political conditions and developments in countries in which the Company operates; changes in regulatory requirements impacting the Company's operations; the ability to properly and efficiently staff the Company's operations; the sufficiency of current working capital; and demand for the Company's drill rigs.
The estimates and assumptions of the Company contained or incorporated by reference in this earnings release, which may prove to be incorrect, include but are not limited to, the various assumptions set forth herein and in the earnings release, or as otherwise expressly incorporated herein by reference as well as (1) there being no significant disruptions or adverse conditions; (2) fluctuations in the price and demand for commodities; (3) fluctuations in the level of mineral and oil and gas exploration and development activities; (4) fluctuations in the demand for contract drilling; (5) the exchange rate between the Canadian dollar, U.S. Dollar, Mexican Peso and various currencies the Company operations in being approximately consistent with current levels; (6) capital market liquidity available to fund customer drilling programs; (7) prices for and availability of equipment, labour, fuel, oil, electricity and other key supplies remaining consistent with current levels; (8) labour and materials costs increasing on a basis consistent with the Company's current expectations; (9) other unforeseen conditions which could impact the use of services supplied by the Company.
This list is not exhaustive and these and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future results, levels of activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Energold Drilling Corp.
Chief Financial Officer
Energold Drilling Corp.
Investor Relations Manager
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