- Mining services company Capital reported a rise in third-quarter revenue as increased drilling services operations and a 'strong' pick up in rig utilisation boosted performance.

For the third quarter of the year, revenue increased 20.1% to $35.3 million year-on-year and average utilised rigs rise 25% to 60, with feel utlisation up 17.3%.

'The third quarter saw further progress in our drilling services operations, from production to exploration, with continued excellence in our safety record as well as a strong pick up in rig utilisation,' the company said.

'Capital remains on track to deliver on its guidance for 2020, supported by the positive trends both in the capital markets' appetite for the gold mining sector, the medium term fundamentals of gold and the increased activity in African mining more generally,' it added.

At 8:23am: [LON:CAPD] Capital Drilling Ltd share price was +3p at 68p

Story provided by