As the table shows, in 2016 Geodrill showed improvement across the board. In my opinion, the most important measures are operating ones:
- In 2016 the company drilled above 1 million meters (an increase of 37.2%, compared to 2015)
- Drilling prices went up by 11.6% - I think that higher prices are a strong indication that an industry slump is probably over, at least in West Africa (Ghana, Burkina Faso, Mali or the Ivory Coast)
- Another positive - drilling cost per meter drilled went up less than prices. As a result, a gross margin per meter drilled went by 36.2%!