The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Donangelo Volpe - Beacon Securities Limited - Analyst
: Hey, good morning, guys, and thank you for taking my question. My question mostly related to your technology advancements that you guys just
mentioned on the call. Just wanted to get a little bit more of an in-depth analysis there. Kind of curious on how much of the $65 million in CapEx
will be allocated there.
And also, are you working to leverage the customer data? Is this going to be a value add service or are you guys planning on monetizing some of
the new technology and data that you guys are coming across?
Question: Donangelo Volpe - Beacon Securities Limited - Analyst
: Yeah, you got it. I appreciate you taking the time on that one. I'll hop back in the queue.
Question: Brett Kearney - American Rebirth Opportunity Partners LLC - Analyst
: Hi, good morning, guys, thanks for taking the question. I just want to commend you on getting the organization and the fleet prepared for what
could be a pretty nice upcycle here. I know it's early, but just curious geographically as you look out this calendar year and even beyond, where
you're anticipating some of the new high-spec rigs you have coming into the fleet. We'll see the most opportunity for deployment.
I know you called out Chile and Brazil. I know there's been some changes in Argentina, probably too early there, but anything you're seeing kind
of positively or negatively there and whether you're seeing any initial signs of life or whether it's too early in North America on the precious metals
side.
Question: Brett Kearney - American Rebirth Opportunity Partners LLC - Analyst
: Excellent, that's very helpful. And if I could just sneak one last one. I know historically, uranium has been somewhat represented in the company's
revenue composition. My sense is we're not seeing as much kind of exploration at this point in that commodity cycle. But anything you see on the
horizon for yourselves or the industry drilling rigs into that commodity over the next few years?
Question: Brett Kearney - American Rebirth Opportunity Partners LLC - Analyst
: Excellent. Very helpful. Thank you, Denis.
Question: Larry Callahan - Percheron Investment Management, LLC - Analyst
: Yes, good morning. I was wondering if you could give some idea of whether you're gaining market share and what the prospects are for industry
consolidation. Perceiving that the cost of having modern fleet might eliminate some competition, but I really have no idea.
Question: Larry Callahan - Percheron Investment Management, LLC - Analyst
: And when you say you're at 60% of the $21 billion at the last peak. Can you give some idea of if the cost -- let's say, cost per foot to drill has come
down over that time period or it's gone up? Just to try to figure out if the dollars, if that was the same footage of drilling being done as there was
at the last peak, would that be above $21 billion or less?
Question: Larry Callahan - Percheron Investment Management, LLC - Analyst
: And would you say the technology that's being promoted by Ivanhoe, I can't claim to know whether it's legitimate or not, but would you say that
the technology was -- by Ivanhoe Electric, their exploration technology, if it proved to be useful. Do you think that would be additive to your
business or would detract from your business?
Question: Larry Callahan - Percheron Investment Management, LLC - Analyst
: Thank you.
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JUNE 12, 2024 / 12:00PM, MDI.TO - Q4 2024 Major Drilling Group International Inc Earnings Call
Question: Steven Green - TD Securities, Inc. - Analyst
: Yeah, morning, guys. On the decline activity in North America, you mentioned some of that was from delayed mobilizations and some weakness
in the junior intermediates. I wonder if you can just provide some color as to kind of how much was from a delayed mobilizations and how much
of that was the weakness at the start of the year and the junior market?
Question: Steven Green - TD Securities, Inc. - Analyst
: Okay, great. And on the positive side, you're saying that you're seeing it get back to last year's levels now. Are all those mobilizations now complete
and that's why you're seeing that?
Question: Steven Green - TD Securities, Inc. - Analyst
: I see, globally, okay. Yeah, makes sense. And are you seeing now, given the recent pickup in financings and stronger metals prices, are you seeing
that in some of the juniors and intermediates yet? Or are you still waiting for that to feed through the system?
Question: Steven Green - TD Securities, Inc. - Analyst
: Right, that's all I have. Thanks a lot.
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JUNE 12, 2024 / 12:00PM, MDI.TO - Q4 2024 Major Drilling Group International Inc Earnings Call
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