Major Drilling Group International Inc Q1 2026 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Donangelo Volpe - Beacon Securities Ltd - Analyst : First question from me. Can you talk about the dynamics you guys are seeing in North America. We've been seeing a modest uptake in junior financings. Just wondering how you view the pipeline in Canada versus the United States. And I was just wondering if you could provide any additional commentary related to the streamlined permitting process you're seeing in both regions.

Question: Donangelo Volpe - Beacon Securities Ltd - Analyst : Okay. And then I guess that kind of segues into my next question. With the outlook pointing towards continued top line growth driven by out performance in South America. Can you discuss some of the stronger regions you foresee in the future? And what some of the dynamics are there that will be driving that growth?

Question: Donangelo Volpe - Beacon Securities Ltd - Analyst : Okay. Perfect. I appreciate the color. And then last question for me. Just CapEx was about $14 million for the quarter. Can you discuss some of the dynamics that led to the lower-than-expected CapEx? And can we still expect it to be in the $60 million to $70 million range on an annual basis? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 09, 2025 / 12:00PM, MDI.TO - Q1 2026 Major Drilling Group International Inc Earnings Call

Question: Brett Kearney - American Rebirth Opportunity Partners LLC - Analyst : Terrific to see the continued strength in your major markets and you guys' ability to capitalize and execute on that in the precious metals and copper front. Just curious, as there's been a heightened focus on critical minerals and I guess, the expanded list of the resources included therein. I know they're all small individually, but just curious kind of in aggregate, whether you're seeing any opportunity across some of more niche mining areas from rare earths, tin, tungsten, antimony in aggregate currently or going forward that can move the needle at all for you all?

Question: Brett Kearney - American Rebirth Opportunity Partners LLC - Analyst : Excellent. And then maybe an extension of that, given your guys' size and trusted position as a mining services provider to Canada, North America, the West, to the extent you can comment, are you all actively engaging in or been approached at all in some of the security discussions as the importance of these metals, including even copper takes quite in priority. Are you guys being looked in at all to conversations involving discussions around NATO, the West. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 09, 2025 / 12:00PM, MDI.TO - Q1 2026 Major Drilling Group International Inc Earnings Call

Question: James Vail - Arcadia Advisors LLC - Analyst : Denis, you said that the second-quarter top line is showing momentum. I guess I'll get to the bottom line is what you see change the dynamics of the third fiscal quarter and expecting maybe less of a slowdown that you've had historically, so that the activity wouldn't slow down as quickly as it did last year and slower to pick up in the spring. Is that a possibility or is that -- will those historic dynamics still be in place?

Question: James Vail - Arcadia Advisors LLC - Analyst : Okay. And then just finally, looking at the segment information, and there's the asterisk that says Canada US includes revenues for Canada. If you do the arithmetic, it looks like the US was down 20% in the quarter. Is that correct? Is that accurate?

Question: James Vail - Arcadia Advisors LLC - Analyst : Yes, that's up 20%. That's encouraging. That is good. Okay. Are you going to present at Beaver Creek, Denis?