Capital Limited Secures Multi-Year Mining and Laboratory Contracts to Drive Growth

Capital Drilling ( (GB:CAPD) ) has issued an update.

Capital Limited has reported a series of significant contract wins across its mining, drilling and laboratory divisions, underscoring robust demand for its services. The group is recommencing waste stripping at the Sukari Gold Mine under an 18‑month contract that will use existing on-site equipment supplemented by newly purchased trucks and ancillary machinery, with operations starting in the first quarter of 2026.

In West Africa, Capital has secured a five‑year grade control drilling contract with Montage Gold at the Koné Gold Project in Côte d’Ivoire, with mobilisation slated for the second quarter of 2026. Its MSALABS unit has also landed a five‑year laboratory services deal for Equinox Gold’s Valentine Project in Newfoundland, supporting the construction of a new commercial lab using PhotonAssay technology and expanding sample preparation and multi‑element analysis capabilities.

These new awards build on previously announced MSALABS contracts, including long‑term laboratory agreements with Montage Gold in Côte d’Ivoire and IAMGOLD’s Westwood mine in Canada, as well as a second PhotonAssay‑equipped lab under construction in Côte d’Ivoire. Alongside several smaller contract extensions, the new work strengthens Capital’s growth trajectory and supports deployment of recently raised funds, enhancing its competitive position in the global mining services market.

The most recent analyst rating on (GB:CAPD) stock is a Hold with a £141.00 price target. To see the full list of analyst forecasts on Capital Drilling stock, see the GB:CAPD Stock Forecast page.

Spark’s Take on GB:CAPD Stock

According to Spark, TipRanks’ AI Analyst, GB:CAPD is a Outperform.

Capital Drilling’s strong cash flow generation and positive technical indicators are significant strengths, supporting a favorable outlook. The recent equity raise further enhances growth potential. However, concerns about declining revenue growth and operational margins, along with moderate valuation metrics, slightly temper the overall score.

To see Spark’s full report on GB:CAPD stock, click here.

More about Capital Drilling

Capital Limited is a London-listed mining services group providing drilling, mining and laboratory solutions to gold and other mining companies. Through its MSALABS division and integrated drilling and mining fleets, the company focuses on long-term contracts in key African and international gold jurisdictions, leveraging technologies such as PhotonAssay to expand its laboratory offering.

Average Trading Volume: 340,260

Technical Sentiment Signal: Buy

Current Market Cap: £319.9M

See more insights into CAPD stock on TipRanks’ Stock Analysis page.