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Geodrill Restricted (OTCQX:GEODF) Q3 2024 Earnings Convention Name November 11, 2024 10:00 AM ET
Firm Members
Dave Harper – President and CEOGreg Borsk – CFO
Convention Name Members
Gordon Lawson – Paradigm CapitalJohn Sartz – Viking CapitalUnidentified Analyst – George Melas-Kyriazi – MKH Administration
Operator
Good morning, everybody and welcome to Geodrill’s Q3 2024 Outcomes Convention Name. Right now, all members are in a listen-only mode. Following the presentation, we are going to conduct a question-and-answer session. [Operator Instructions]. I wish to remind everybody that this convention name is being recorded at the moment, November 11, 2024.
Earlier than we start, sure statements made on at the moment’s name by administration could also be forward-looking in nature and as such, are topic to numerous dangers and uncertainties. Please discuss with the corporate’s press launch and MD&A for extra particulars on these dangers and uncertainties. I might now like to show the decision over to Mr. Dave Harper, President and CEO of Geodrill. Please go forward.
Dave Harper
Thanks, operator and good morning everybody. Thanks for becoming a member of us at the moment to debate Geodrill’s third quarter outcomes. Becoming a member of me additionally on the decision at the moment is Greg Borsk, our Chief Monetary Officer.
Within the third quarter 2024 we delivered one other strong monetary efficiency. Among the highlights have been income elevated 13% year-over-year, EBITDA additionally elevated 22% year-over-year, internet earnings of U.S. $0.06 or 8% of income, which compares favorably to a U.S. $0.06 cents loss for a similar quarter in 2023. And we additional strengthened our stability sheet which is now underpinned by additional cash than debt, all of which we imagine validates the success of our monetary planning. We additionally imagine these outcomes are a testomony to our operational and strategic planning success. For context on this latter level, recall 2023 our strategic resolution to transition our rig fleet from Burkina Faso to extra engaging jurisdictions. This has confirmed
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