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GEOD Global drilling firm with ESG at
MINING SERVICES | GEODRILL
DRILL the core of its business proposal
“I founded Geodrill almost 25 years ago in Ghana with one rig and one contract and steadily grew the company. It was a pretty simple business model based on the careful selection of safety conscious and service-orientated personnel, a commitment to a well-maintained fleet of drills and providing the full gamut of exploration drilling services,” Geodrill’s president and CEO David Harper tells RGN. But above all else, Geodrill’s story has been defined by an unwavering commitment to customer satisfaction, no matter how major or minor the client is, he continues. Today, the multi-purpose drilling services provider focuses predominantly on the African market, having grown out of its natural home in Ghana into neighbouring Burkina Faso, Côte d’Ivoire and Mali, as well as Egypt in North Africa. More recently, Geodrill expanded into a new continent – South America – with a subsidiary company established in Peru last year. “We currently operate 70 drills. We drill about 1.5 million metres a year, making us the 7th largest driller by metreage in the world. And we provide about 1,000 career opportunities to the communities in which we operate.”
After a sustained period of rig growth and expansion into new markets in West Africa in the decade after the new millennium, Geodrill listed on the Toronto Stock Exchange (TSX) in 2010, with Harper
used by juniors
citing the size of the market and
in early stage
the appetite of its investors for
exploration), grade
the mining industry.
control, geo-tech and
in
water borehole drilling. “TSX investors were very receptive when we were
Geodrill’s multi-purpose fleet
considering the IPO route over
provides its clients with a high
a decade ago. They’ve always
level of versatility at the mine
understood mining and they
site. For instance, the ability
understand mining derivatives
to switch between RC and
such as drilling and the services
diamond core drills midway
industry,” he says.
through a drill hole - with
Multi-purpose drill fleet
minimal effort or down time eliminates the customer’s need to have two rig types on site,
Throughout its existence,
therefore improving overall
Geodrill has consistently
efficiency and lowering the all-
invested in a vast array of
in average cost per metre.
modern equipment in order to supply its clients with a
“Our customers are major,
‘one-stop’ drilling solution.
intermediate and junior
The company’s expansive
mining companies and we
drill services include reverse
operate on the surface and
circulation (RC), diamond core,
underground [since 2017]. It’s
deep directional navi drilling,
about providing the full gamut
air core ((AC) a popular method
and being able to get it all
MINING SERVICES | GEODRILL
under one roof in the Geodrill
developing our young talent.”
brand,” Harper explains.
The hub and spoke model
Harper is told by Geodrill’s suppliers and industry peers that the facility is the largest
In Africa, Geodrill follows a
and most comprehensive
‘hub and spoke’ operational
operations base of any drilling
model, with Ghana operating
company in the world. “I have
as the hub. “Here in Ghana,
visited most of our competitors
we operate a 35 acre facility.
and I would say this is a
Within that facility, there is
correct statement,” he says.
a world-class workshop for
1 17
maintaining the drills. We also
The Kumasi operating hub
have a HSE training facility
also holds a US$25 million
and drill training academy for
inventory of critical spare
MINING SERVICES | GEODRILL
parts and consumables to keep
Africa; and this is what gives
the rigs ‘turning, churning
us our mechanical advantage.”
and earning’, across West and North Africa. In addition,
As a result, Geodrill’s outlier
there is a CNC engineering
operations on the continent
plant at the facility, which
simply do not need facilities
enables Geodrill to make its
of the same scale, with
own drill rods and spares.
operations in Burkina Faso, Côte d’Ivoire, Mali and
“We’ve even started making
Egypt acting as the spokes
our own drill rigs. This facility
revolving around the Ghana
is an operational centre of
hub. Nevertheless, these
excellence,” Harper exclaims.
smaller bases are still replete
“We currently operate 70 drills. We drill about 1.5 million metres a year, making us the 7th largest driller by metreage in the world. And we provide about 1,000 career opportunities to the communities in which we operate” – David Harper, Geodrill CEO
“There’s nothing like it in West
118
with comprehensive support
along with a plethora of Africa-
(environmental, social and
equipment and services.
focused mid-tier producers,
corporate governance)
including: Endeavour Mining,
are by no means new to a
This interwoven model
Centamin, Golden Star
company like Geodrill, which
means Geodrill can quickly
Resources, Perseus Mining and
has been acutely conscious
mobilise the relevant
West African Resources.
of its corporate social
equipment or service to any
responsibilities from the get-
client across West and North
Not forgetting the junior
Africa, including for the
sector, Harper highlights
largest players in the gold
his company’s work with the
“ESG has gone from a situation
space. Barrick Gold, Kinross
likes of AIM-listed IronRidge
of being ‘nice to have’ to
Gold Corp, Gold Fields and
Resources, ASX firm Mako
companies being mandated
Newmont Corporation all lean
Gold and TSXV issuers Roscan
to come up with various KPIs
on Geodrill’s drilling expertise,
Gold, Newcore Gold and
to explain in an auditable and
African Gold Group.
tangible fashion what exactly
G EOD R I LL
AT A G L A N C E
Embedded ESG values
go.
they are doing about this very important subject. Whereas for us, it’s business as normal.
ESG has developed into the
We’ve always believed in doing
leading buzzword for the
what is right, not just what is
sector in recent years, as
required.
companies look to impress a
STOCK TICKER: TSX:GEO MARKET CAPITALISATION: US$77.6 million (as of August 25, 2021)
growing legion of institutional
“At the very core of our
and general investors focused
vision and values, there
on issues such as the carbon
has always been a very
footprint of the mining
strong commitment to
industry and the social
the communities and the
wellbeing of communities
environment in which we
affected by mineral extraction
operate,” Harper recounts.
around the world.
“This means operating to the highest HSEQ standards
aj
However, the core principles
with transparency and
ensconced in the ESG thematic
accountability with all of our stakeholders.”
MINING SERVICES | GEODRILL
Geodrill is also an equal
drilling upstart who joined
employee. It’s a matter of fact
opportunities employer
the company around the same
that some of our employees
and a proud advocate for
time as the current CEO.
are operating in Australia,
gender diversity inclusion
He started off working as a
teaching Australians how to
across all its business units.
‘drill helper’, but after some
drill. It’s been a success story
In addition, Harper tells
time and tuition he became
in that regard.”
RGN that providing ‘career
a driller. After 17 years in the
opportunities’ is the single
role, he became a supervisor
biggest way in which a
and then a manager.
company can positively impact
Health, safety and education This is just one example
any community it works in.
“This case shows there is a
of Geodrill’s multitude of
This is particularly the case in
clear path to success that
investments in local talent
the parts of Africa.
empowers our employees.
throughout its history. The
It enables them to go from
company’s other commitments
By way of example, Harper
a low-skilled to semi-skilled
to community engagement are
describes the story of a young
and eventually a highly-skilled
heavily themed towards the three pillars of health, safety and education. In the area of community health, Geodrill has funded infant open heart surgeries for the past 15 years and often considers ad-hoc cases, such as the one of a little girl born with cancer in both eyes. Geodrill paid for the family’s travel to India, where she was fitted with prosthetic eyes. The costs of the procedure were also covered by the company. “In education we have made numerous donations to schools. For example, in the recent semester we donated to three major schools to refurbish their science labs and we see this as a key area where we can really make a difference.” Elsewhere, there wouldn’t be too many communities Geodrill operates where it hasn’t provided water wells. The firm has also built shelters DAVE HARPER, GEODRILL PRESIDENT AND CEO
for victims of domestic abuse, while supporting orphanages and rising sports starts.
MINING SERVICES | GEODRILL
“The Ghana boxing team
visit the ESG section of our
These sustained ESG efforts
recently won the Olympic
website to see what I’m talking
have not gone unnoticed. In
bronze medal in Japan just
about when I say we allow our
2020, the company won the
a couple weeks ago. We’ve
actions to speak louder than
Australia-Africa Minerals &
always been huge supporters
our words,” Harper declares.
Energy Group (AAMEG) ESG
of the Ghana boxing team. I would encourage anyone to
award for the best workforce
MINING SERVICES | GEODRILL
commodity mix, hence the expansion into South America, where we are currently drilling for one of the EV [electric vehicle] metals. “Mining is a cyclical business; we go from feast to famine
A sustainable future doing what is right, Geodrill
of us and Geodrill intends to
will continue to spend around
benefit in that upcycle.”
significantly improved financial results in 2020, and
And in July
with 2021 set to be another
2021, Geodrill
‘bonanza year’ according to
won the prestigious
Harper, this commitment to
Millennium Excellence Award for Mining and
corporate care looks to be a significant one.
Exploration. In the first two quarters of the Harper explains that
year, Geodrill has reported
Millennium Excellence is
70% and 47% year-on-year
the highest award that can
improvements in revenue,
be bestowed in Ghana. This
on the coat tails of a strong
year, Geodrill’s boss happens
commodity price run not
to be a fellow laureate with
just confined to gold. “Plans
the current President of the
are afoot to improve our
Republic of Ghana; Nana
geographical footprint and
Akufo-Addo.
downcycle. I think we have four or five good years ahead
initiatives. After posting development.
just come out of a very long
As a company that believes in
2% of its revenues on ESG and industry
every five years and have
Published by Anderson Murray Media Ltd
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