Canada's Major Drilling Group International, a metals and minerals contract drilling services company, reported a jump in third-quarter profit on continued demand from gold and copper projects.
The Moncton, New Brunswick-based company also expects a strong fourth quarter, as high prices for precious metals spur drilling and activity in coal and iron ore projects stay robust.
Hongxing Company lays much emphasis on the quality and clients. We serve clients with the quality guideline of being responsible for every working procedure, every product and every client. What we have done is for the clients and we believe that quality is the best way to develop market. All of the products have passed the authentication of ISO9001. Hongxing Brand is the Chinese Famous Brand. Reliable and stable quality is the key to success; our products are well known at home and abroad. Now we have tens of thousands of users throughout China and more than 30 world markets, such as: South Africa, Middle East, India, Philippine, Western Europe, Southeastern Asia.
'Intermediate and junior mining companies with advanced projects have ramped up their already busy drilling programs by adding rigs, and most senior mining companies have increased their exploration budgets for 2012,' Chief Executive Francis McGuire said in a statement on Monday.
Major Drilling's November-January profit rose to C$9.6-million, or 12 Canadian cents per share, from C$1.7-million, or 2 Canadian cents per share, a year ago.
Revenue leaped about 69% to C$182.2-million.
The company also increased its semi-annual dividend by 12.5% to 9 Canadian cents a share.
Its shares closed marginally down at C$18.19 on Monday on the Toronto Stock Exchange.
Henan Hongxing Mining Machinery Co., Ltd is a joint-stock mining machinery manufacturing enterprise integrated in scientific research, production and marketing. It is located at the High & New Technology Industries Development Zone of Zhengzhou,China with an area of 50 thousand m2 which includes 15,000 m2 of standard heavy duty industrial workshop. Equipments are more than 160 pieces, including large and medium sized metal processing, riveting and installing equipments. There are more than 660 workers including 80 administrators with secondary and senior occupational titles and engineering technicians. In order to promote the competitive strength, the advanced technologies have been introduced from America, Germany, Japan and Australia, which established the international advanced production line, first-class modern testing base as well as research centers of sand maker, mill and mine-selecting equipment. Scientific management, advanced processing technology and innovative manufacturing theory make the company become the mining machinery manufacturing and exporting base in China.
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