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LSE:CAPD

Capital Limited

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Market:
LSE
Market Cap:
£86.3 m
Price
63.00 GBX
Change
-2.33%
52 weeks high
80.00
52 weeks low
25.00

We are a provider of full-service mining, drilling, maintenance and geochemical analysis solutions, focussing on the African markets.

Why invest with us?

  • Our portfolio of long-term, mine-site based clients provides stable and predictable revenue streams
  • We provide a diverse range of services across the mining cycle, coupled with extension into complementary ancillary services
  • We have well established operations in Eastern Africa and a recently established footprint in the high-growth West African markets
  • We provide excellence in execution, with best-in-class project execution, fleet quality and management
  • We maintain a robust balance sheet with capacity to fund growth initiatives and shareholder returns
  • We are consistently and successfully executing on our strategic priorities, including the establishment of our mining services division which provides significant growth opportunities
  • Our idle exploration fleet capacity provides significant growth upside
  • We focus on shareholder returns through growth, investments and dividend payments

Shareholder Returns

Our strong balance sheet has enabled us to pay shareholders consistent dividends since 2014. In May 2020, we paid a second interim dividend of 0.7cps, bringing the total 2019 dividend to 1.4cps.

Our dividend history can be found here.

Our Strategy

We have seven areas of strategic focus. They are:

  • African Focussed - maintain strong established presence in East Africa and growth of recently established footprint in the high-growth West African markets
  • Quality Providers - Deliver first world project execution standards in the emerging markets
  • Industry Leading HSE - Deliver world class safety processes and procedures on every site
  • Best-in-class Fleet / Maintenance - Investment in Tier 1 on-site maintenance infrastructure and maintain industry-leading standards via rig maintenance and rebuild programs
  • Superior Portfolio of Assets - Long term, mine site based clients and blue chip, mid tier mining companies
  • Robust Balance Sheet - Strong cash generation and conservative approach to gearing
  • Increase Service Offering - Expand range of complimentary ancillary services

Our Strengths

  • Capacity to offer a fully integrated solution from first stage exploration drilling to delivery of ore to the mill
  • Unrivalled commitment to safety demonstrated by our excellent safety record
  • Focus on the African markets leveraging geographic efficiencies and in-country knowledge and experience
  • Fleet capacity that enables flexibility to respond quickly to new opportunities and adapt to clients’ needs
  • Young fleet maintains consistently high reliability and availability and is achieved by extensive maintenance and rebuild program
  • Long-term relationships with some of the world’s largest mining companies reflects professional service deliver

 

We are a leading exploration and mining services company, providing a complete range of drilling, mining, maintenance and geochemical analysis solutions to exploration and mining companies.

Our exploration services include:

  • Exploration Drilling - Air core, reverse circulation, diamond core, directional and deep hole diamond
  • Underground Drilling - Diamond core, reverse circulation (RC) and grade control
  • Geochemical Analysis Laboratory Solutions - Sample preparation for soils, drill core, rock and RC chips, metallic screening, carbon, sulphur and mercury analysis, trace metal analysis by digestion/ICP-ES, ultra-trace metal analysis by digestion/ICP-MS and specific gravity testing
  • Software and Tool Rental - Rental, sales and training of core orientation tools, magnetic survey cameras and MEMS gyros, HS/HA north seeking gyro survey services, core orientation services, directional drilling equipment and management services, rig aligners and rig alignment services, borehole management using HiTT software and geophysical logging services

Our mining services include:

  • Grade Control Drilling - Advanced / Deep grade control, shallow grade control, reverse circulation, and underground diamond drilling
  • Blast Hole Drilling - Blast hole (all sizes), pre-splits (all sizes), down-the-hole (DTH) and rotary top hammer
  • Underground Drilling - Diamond core, reverse circulation (RC) and grade control
  • Load & Haul - Load & Haul, rehandling, management services and equipment hire and maintenance
  • Geochemical Analysis Laboratory Solutions - Sample preparation for soils, drill core, rock and RC chips, metallic screening, carbon, sulphur and mercury analysis, trace metal analysis by digestion/ICP-ES, ultra-trace metal analysis by digestion/ICP-MS and specific gravity testing
  • Maintenance Services - Hydraulic services, general maintenance and fabrication services, specialist mining supplies, asset rentals and asset and component rebuilds

Our company focuses on the African markets, where we now have a firmly established footprint in West Africa as a result of our recent strategic expansion into the region, in addition to our traditional operating markets in the eastern, central and southern African regions. We also operate in select international markets.

We have established infrastructure in Botswana, Burkina Faso, Cote d’Ivoire, Egypt, Mali, Mauritania, Namibia, Nigeria and Tanzania, together with Saudi Arabia.

JAMIE BOYTON

Chairman

Jamie Boyton is the Chairman of the Company and was appointed as a Director in January 2009. He is responsible for overseeing the Company’s strategic and business development, which includes advising on capital market requirements and growth opportunities. He was previously an Executive Director and the Head of Asian Equity Syndication and Corporate Broking of Macquarie Securities Limited in Hong Kong. Prior to this, he was a Director of ABN AMRO Asia (Hong Kong). Jamie has a Bachelor of Commerce (Accounting and Finance) from the University of Western Australia.

BRIAN RUDD

Executive Director

Brian Rudd is a co-founder of the Company and an Executive Director, with a focus on business development and client relations. He was appointed as a Director in May 2005. Brian has been instrumental in the company’s successful establishment and development since its inception in 2005. Brian has over 30 years of experience in the mining industry in both Australia and Africa. Before establishing the Company, Brian was the Operations Manager and subsequently, the General Manager of Stanley Mining Services (Tanzania) Ltd, a subsidiary of Layne Christensen Company in East Africa.

DAVID ABERY

Senior Independent Non-Executive Director 

David Abery is the Senior Independent Non-Executive Director, being appointed to this role in January 2018 following the retirement of Tim Read. Prior to this, David joined the Company in October 2017 when he was appointed as an Independent Non-Executive Director and as Chairman of the Audit Committee. David has over 15 years’ experience as a Finance Director of London quoted companies, and over 20 years’ experience in senior finance and general management roles. David has extensive experience of financial, commercial and strategic matters in African and UK corporate environments at both board and operational level, as well as many years’ experience of corporate governance, regulatory and investor relations best practice. David was Finance Director of Petra Diamonds Limited (LSE Main Board Premium listed) from 2003 until he stepped down in June 2016; during his tenure Petra grew from largely a diamond exploration group to one of the world’s largest listed diamond producers. Prior to Petra, David served as Finance Director at Tradepoint Financial Networks plc (subsequently Virt-X)(AIM) and Mission Testing plc (AIM). David is currently involved in various private business ventures. David has a BA (Hons) in Finance and Accountancy and is a Chartered Accountant (ICAEW).

 

 


MICHAEL RAWLINSON

Independent Non-Executive Director

Michael joined the Board as an Independent Non-Executive Director in August 2018.  He is a former investment banker with over 20 years experience focused on the mining and metals sector.  His last full-time role was Global Co-Head of Mining and Metals at Barclays investment bank where he worked since 2013 having joined from the boutique investment bank, Liberum Capital - a business he helped found in 2007. After starting his career in the City of London at Flemings in 1991, he joined Cazenove in 1996 before leaving JP Morgan Cazenove in 2007 where he was Head of EMEA Mining and Metals. He has been both a corporate financier and research analyst covering the mining sector and has extensive capital markets experience having worked on the IPOs and follow-on offerings for a number of companies including Anglo American, Billiton, Xstrata, Glencore, Gem Diamonds as well as the Company's own IPO in 2006. He is also Senior Independent Non-Executive Director at Hochschild Mining plc and works with a number of private entities. In addition, Mr Rawlinson served as a Non-Executive Director of Talvivaara Mining Company Plc between April 2012 and November 2013.

ALEXANDER DAVIDSON

Independent Non-Executive Director

Alexander Davidson is an Independent Non-Executive Director and was appointed in May 2010. He has over 35 years’ experience in designing, implementing and managing gold and base metal exploration and acquisition programmes throughout the world. Alexander was Executive Vice President, Exploration and Corporate Development at Barrick Gold with responsibility for its international exploration programmes and corporate development activities. Prior to joining Barrick Gold, Alexander was Vice President, Exploration for Metall Mining Corporation. He was presented the 2005 A.O. Dufresne Award in April 2005 by the Canadian Institute of Mining, Metallurgy and Petroleum. In 2003, he was named the Prospector of the Year by the Prospectors and Developers Association of Canada. Alexander is a Director of a number of London and Toronto listed companies, including Yamana Gold and Americas Silver Corporation.  He received his B.Sc. and his M.Sc. in Economic Geology from McGill University.

 

 

Corporate Head Office

Capital Drilling (Mauritius) Limited

The CORE Building
9th Floor
Ebene Cyber City
Mauritius

Tel:
+230 464 3250

Email:
info@capdrill.com

Investor Contacts

Company Chairman

Jamie Boyton
Email: investor@capdrill.com

Chief Financial Officer

André Koekemoer
Tel:+230 464 3250
Email: andre.koekemoer@capdrill.com

Investor Relations

Judy Lim
Tel: +230 464 3250
Email: investor@capdrill.com

Analysts

Berenberg (Joh. Berenberg, Gossler & Co. KG)
Richard Hatch
60 Threadneedle Street
London EC2R 8HP

Tel:+44 20 3753 3070
Email: richard.hatch@berenberg.com
Website: www.berenberg.com

Tamesis Partners LLP
David Butler
125 Old Broad Street
London EC2N 1 AR

Tel: +44 203 882 8422
Email: dbutler@tamesispartners.com
Website: www.tamesispartners.com

Peel Hunt LLP
Peter Mallin-Jones
Moor House, 120 London Wall
London, EC2Y 5ET

Tel: +44 (0)20 3597 8644
Email: Peter.Mallin-Jones@peelhunt.com
Website: www.peelhunt.com

Brokers (UK)

Berenberg (Joh. Berenberg, Gossler & Co. KG)
Matthew Armitt
60 Threadneedle Street
London EC2R 8HP

Tel: +44 20 3207 7800
Email: matthew.armitt@berenberg.com
Website: www.berenberg.com

Tamesis Partners LLP
Richard Greenfield
125 Old Broad Street
London EC2N 1 AR

Tel: +44 20 7389 5021
Email: rgreenfield@tamesispartners.com
Website: www.tamesispartners.com

Public Relations (UK)

Buchanan
Bobby Morse
107 Cheapside
London EC2V 6DN

Email: bobbym@buchanan.uk.com
Website: www.buchanan.uk.com

Brokers (UK)

Berenberg (Joh. Berenberg, Gossler & Co. KG)
Matthew Armitt

60 Threadneedle Street
London EC2R 8HP

Tel:
+44 20 3207 7800

Email:
matthew.armitt@berenberg.com

Website:
www.berenberg.com

Brokers (UK)

Tamesis Partners LLP
Richard Greenfield

125 Old Broad Street
London EC2N 1 AR

Tel:
+44 20 7389 5021

Email:
rgreenfield@tamesispartners.com

Website:
www.tamesispartners.com

Company Contact Information

Company Chairman

Jamie Boyton

Email:
investor@capdrill.com

Company Secretary

André Koekemoer

Tel:
+230 464 3250

Email:
andre.keokemoer@capdrill.com

Investor Relations

Judy Lim

Tel:
+230 464 3250

Email:
investor@capdrill.com

Analyst

Berenberg (Joh. Berenberg, Gossler & Co. KG)
Richard Hatch

60 Threadneedle Street
London EC2R 8HP

Tel:
+44 20 3753 3070

Email:
richard.hatch@berenberg.com

Website:
www.berenberg.com

Analyst

Tamesis Partners LLP
David Butler

125 Old Broad Street
London EC2N 1 AR

Tel:
+44 203 882 8422

Email:
dbutler@tamesispartners.com

Website:
www.tamesispartners.com

Analyst

Peel Hunt LLP
Peter Mallin-Jones

Moor House
120 London Wall
London, EC2Y 5ET

Tel:
+44 20 3597 8644

Email:
peter.mallin-jones@peelhunt.com

Website:
www.peelhunt.com

Brokers (UK)

Berenberg (Joh. Berenberg, Gossler & Co. KG)
Matthew Armitt

60 Threadneedle Street
London EC2R 8HP

Tel:
+44 20 3207 7800

Email:
matthew.armitt@berenberg.com

Website:
www.berenberg.com

Brokers (UK)

Tamesis Partners LLP
Richard Greenfield

125 Old Broad Street
London EC2N 1 AR

Tel:
+44 20 7389 5021

Email:
rgreenfield@tamesispartners.com

Website:
www.tamesispartners.com

Public Relations (UK)

Buchanan
Bobby Morse

107 Cheapside
London EC2V 6DN

Tel:
+44 20 7466 5000

Email:
bobbym@buchanan.uk.com

Website:
www.buchanan.uk.com

Auditor

BDO LLP
55 Baker St
Marylebone
London W1U 7EU

Bank

Standard Bank (Mauritius) Limited
9th Floor, Tower A
1 Cyber City
Ebene Mauritius

Capital Limited

Bermuda registered number 34477

Corporate Office

The CORE Building
9th Floor
Ebene Cyber City
Mauritius

Tel:

+230 464 3250

Registered Office

Victoria Place, 5th Floor
31 Victoria Street
Hamilton HM 10
Bermuda

Registrar

Computershare Investor Services (Jersey) Limited
Queensway House
Hilgrove St
St Helier
Jersey JE1 1ES
Channel Islands

Tel:
+44 (0) 370 707 1138

Email:
#UKCSBRSDITeam@computershare.co.uk

Solicitor

Boodle Hatfield LLP
240 Blackfriars Road
London SE1 8NW

Corporate Head Office
Capital Limited
The CORE Building
9th Floor
Ébène CyberCity
Mauritius

Telephone
+230 464 3250

Email
info@capdrill.com