Ryan Samis isn’t ready to say mining exploration is out of a dark period, but there’s light at the tunnel. The president of the Canadian Diamond Drilling Association said the prevailing sentiment heading into 2017 is upbeat in comparison with recent years.
“It’s kinda like you want to believe that it’s finally going to come back this year,” said Samis, who works for Geotech Drilling’s exploration division manager based in Prince George, B.C.
“At the end of each year clients are looking at budgets and from what I’ve seen…programs are getting bigger, flow-through is getting better, and there is more demand (for drilling services),” said Samis.
Geotech, which sends drill rigs across Canada and around the world, has been involved in three legacy gold programs for several years, he said. “All three are ramping up to be some of the biggest programs we’ve done in those years.”
The mining industry enjoyed a super cycle between 2003 and 2007, followed by a sharp recession in 2008/09 that hit exploration particularly hard, coupled with declining mineral commodity prices. Samis said Geotech has remained active, working on projects financed by a combination of private investors and flow-through funds.
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