Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Energold Drilling Corp. (EGD: TSX.V) (“Energold” or “the Company”) is pleased to announce that it has closed the definitive strategic acquisition agreement announced June 22, 2011 (see press release dated June 22, 2011) with Bertram International Corporation (“Bertram”) whereby Energold has agreed to acquire all the outstanding shares of Bertram for total consideration of $15 million and assume long term debt and lease obligations of approximately $3 million as of June 30, 2011.
Based in Carbon, Alberta, Canada, Bertram is a diversified specialty drilling company, servicing the energy sector in Canada and the U.S. Bertram has a current inventory of 119 rigs specially designed for oil sands coring, shot hole seismic and geothermal drilling services markets. Bertram also provides diamond and pipeline drilling services.
The Oil & Gas markets serviced by Bertram continue to show growing signs of improved demand and Energold looks forward to working with Bertram to fully capitalize on its opportunities and provide additional avenues for expansion, both domestically and internationally.
Energold Drilling Corp. is an environmentally- and socially-sensitive diamond drilling company that services the international mining industry. Energold holds 7 million shares of IMPACT Silver Corp.
