Capital Drilling Ltd

Capital raised its 2026 group revenue guidance to $435 million to $455 million from $430 million to $450 million previously, after acquiring Australian underground drilling specialist Metres Down Under for up to $16 million. The mining drilling services firm will pay about $11 million upfront for MDU, with a further $5 million tied to performance milestones, and MDU's revenue will be included from Sept. 30. MDU generated about $25 million in revenue and $6 million in adjusted EBITDA in the 12 months to Sept. 30, and brings 11 drilling rigs plus contracts at the Sunrise Dam and Tropicana mines, both operated by AngloGold Ashanti. The deal gives Capital a direct presence in Australia's underground drilling market and adds MDU's contracted revenue to the group's fourth-quarter results. Capital maintained its revenue guidance of $85 million to $95 million for MSALABS and capital expenditure guidance of $55 million to $65 million.