Source: Reuters                        Date: 08 September, 2011

Major Drilling's profits tripled this quarter due to an increased demand in drilling services. Drilling operations have increased with the jump in both precious-metal and base-metal prices.

“Despite the recent events in the global economy, we have not seen our customers modify their activity patterns,” said Chief Executive Francis McGuire. “Demand for drilling services continues to grow.”

The company said it is seeing strong activity levels in all regions and segments. Earnings rose 40 percent to CAD 17.9 million. Quarterly gross margins jumped to 31.4 percent.

Drilling Group International Inc. is one of the world’s largest drilling service companies serving the mining industry. Its services including surface and underground coring, directional, reverse circulation, RAB, geotechnical, and environmental drilling. It has operations in Mongolia with Major Drilling Mongolia.