Contracts Update
Capital Limited has announced significant contract wins across its drilling, mining, and laboratory divisions, reflecting a strong demand environment and the deployment of recently raised funds. The company has recommenced waste stripping at the Sukari Gold Mine with an 18-month contract starting in Q1 2026, utilizing existing and new equipment. Furthermore, Capital's drilling business secured a 5-year grade control drilling contract with Montage Gold in Côte d'Ivoire, commencing mobilization in Q2 2026. MSALABS has also secured a 5-year commercial laboratory services contract with Equinox Gold in Newfoundland, which will support the construction of a new laboratory featuring PhotonAssay™ technology. These new contracts, alongside previously announced awards and extensions, indicate positive momentum for the Group.
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Capital (LSE: CAPD), a leading mining services company, is pleased to announce several material contract developments across its drilling, mining and laboratory operations.
Commenting on the new contract awards, Jamie Boyton, Executive Chairman, said:
"We are pleased to announce today that we continue to capitalise on the highly favourable demand environment and are starting to deploy the funds recently raised to support our growth strategy. We are seeing this increasing demand across all parts of the business, with contract wins highlighted below spanning mining, drilling and MSALABS.
In mining, we have recommenced waste stripping mining at the Sukari Gold Mine, utilising our remaining fleet at site. Our drilling business has secured a multi-year grade control drilling contract with Montage Gold in Côte d'Ivoire. MSALABS has secured a multi-year contract with Equinox Gold, underpinning the decision to construct a commercial laboratory in Newfoundland and deploy another PhotonAssayTM unit.
We are excited by the momentum we are seeing and will provide further detail, including guidance for 2026, at our FY2025 results on the 19th March."
Waste Stripping Contract at Sukari Gold Mine
- Capital has been awarded a waste stripping cutback services contract at Sukari Gold Mine, operated by AngloGold Ashanti
o This contract will utilise our existing equipment still on site supported by a number of newly purchased trucks and additional ancillary equipment
o The contract term is 18 months and is expected to commence in Q1 2026, with our existing equipment, followed by the new equipment phasing in through Q2 2026
Grade Control Drilling Contract with Montage Gold
- Capital has been awarded a 5-year grade control drilling contract with Montage Gold at its Koné Gold Project in Côte d'Ivoire
o Mobilisation is expected to start in Q2 2026
Equinox Gold - Newfoundland MSALABS Laboratory Contract
- MSALABS has been awarded a 5-year commercial laboratory services contract with Equinox Gold's Valentine Project in Newfoundland, Canada
o This contract will underpin the construction of a new commercial laboratory in Newfoundland utilising PhotonAssayTM technology, as well as providing sample preparation and multi-element analysis
Other Recent and Previously Announced Awards
As previously announced, MSALABS has:
- been awarded a 5-year contract to build and operate an on-site laboratory at Montage Gold's Koné Gold Project in Côte d'Ivoire;
- been awarded a 3-year contract with IAMGOLD's Westwood mine through our commercial laboratory in Val d'Or; and
- commenced construction for a second commercial laboratory in Côte d'Ivoire, equipped with PhotonAssayTM technology.
Additionally, the Group has been awarded several smaller contract extensions and additions across its existing drilling contracts and several smaller laboratories services contracts.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.