Artemis Gold’s Blackwater mine at final commissioning stage
Artemis now expects to feed first ore to the ball mill in the next few weeks and continues to target first gold pour before year end.
MONCTON, NB, Dec. 5, 2011 /CNW/ – Major Drilling Group International Inc. (TSX: MDI) today reported results for its second quarter of fiscal year 2012, ended October 31, 2011.
Highlights
| In millions of Canadian dollars (except earnings per share) |
Q2-12 | Q2-11 | YTD-12 | YTD-11 | |
| Revenue | $213.9 | $127.8 | $378.0 | $237.3 | |
| Gross profit | 74.1 | 35.1 | 125.6 | 61.6 | |
| As percentage of sales | 34.6% | 27.5% | 33.2% | 26.0% | |
| Net earnings | 31.6 | 11.3 | 49.5 | 16.5 | |
| Earnings per share | 0.43 | 0.16 | 0.68 | 0.23 | |
| Cash flow from operations (*) | 55.4 | 24.8 | 92.2 | 40.1 | |
*before changes in non-cash operating working capital items, finance costs and income taxes
“In this quarter, the Company achieved record quarterly revenue of $213.9 million, and record quarterly earnings of $31.6 million. Activity levels continued to be robust in every region and we continue to see inquiries from all categories of customers, although many customers are still in the process of finalizing their budgets,” said Francis McGuire, President and CEO of Major Drilling Group International Inc. “Excluding the $11 million in revenue contributed by Bradley in the month of October, the Company still generated $203 million in revenue, well above the previous record of $191 million achieved in the second quarter of fiscal 2009.”
