Cabo Mining

[quote='Tschonko',index.php?page=Thread&postID=279383#post279383]Was immer das heißen mag!

quote]

Das ist sicher nicht zu deren und unserem Nachteil

Wieder 3km....


Cabo to Drill 3,000 Meters for Seafield at Elora Gold Project
Tuesday June 24, 9:00 am ET
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) - Cabo Drilling Corp.'s (TSX VENTURE:CBE - News; "Cabo" or the "Company") Pacific division has entered into a contract with Seafield Resources Ltd. to drill 3,000 meters on the Elora Gold Project. Seafield describes the Elora property as a classic Archean shear hosted gold deposit located in the Gold Rock Camp, south of Dryden, Ontario.
The intent of the drill program, which commenced in late May 2008, is to follow-up encouraging Jubilee Zone, high-grade visible gold bearing intercepts in several of the holes drilled by Seafield Resources in previous campaigns.
About Seafield Resources Ltd.
Seafield Resources Ltd. is a Toronto-based junior mineral exploration company focused on acquiring and advancing precious metals projects in the Americas.
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
John A. Versfelt, Chairman, President and CEO

Cabo to Drill 5,000 Meters for Richmont in Colorado
Thursday July 10, 1:37 pm ET
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2008) - Cabo Drilling Corp.'s (TSX VENTURE:CBE - News; "Cabo" or the "Company") Pacific division, Cabo Drilling (Pacific) Corp., has been awarded a contract by Richmont Mines USA, a subsidiary of Richmont Mines Inc., of Rouyn Noranda, Quebec, to complete a minimum of 5,000 meters of NQ2 underground drilling at the Golden Wonder Project located near Lake City, Colorado.
The Golden Wonder Project is a past producing high-grade, epithermal deposit, with veins averaging two to three feet in width, located in the historically precious metal rich Colorado Mineral Belt. The goal of Richmont Mines' underground drill program is to explore and define high-grade gold bearing vein structures at the Golden Wonder. Drilling is expected to commence in early July 2008.
Richmont Mines entered into an option agreement with LKA International Inc., on November 12, 2007, whereby Richmont acquired the right to earn a 50% joint-venture interest in LKA's Golden Wonder Project by investing US$3 million in the project prior to September 1, 2008, and additional investment of US$15 million over a 56 month period.
About Richmont Mines Inc.
Richmont Mines produces gold from its operations in Northeast Canada and has extensive experience in gold exploration, development and mining. Its strengths are in its ability to develop advanced exploration projects and to operate underground narrow vein gold mines. The Company was founded in 1981, and since 1991, has produced more than one million ounces of gold from its operations.
About Cabo Drilling Corp.
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
John A. Versfelt, Chairman, President and CEO

der 2. gute Vertrag innerhalb einer Woche


Cabo to Drill an Addditional 14,000 Meters for Minera Petaquilla, S.A.
Wednesday July 23, 9:00 am ET
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 23, 2008 - Cabo Drilling Corp.'s (TSX VENTURE:CBE - News; "Cabo" or the "Company") Panama division has been awarded an additional 14,000 meters of drilling at Minera Petaquilla S.A.'s copper project in the district of Donoso, in Colon Province, Republic of Panama. The original contract, announced March 10, 2008, was for a minimum of 6,000 meters of drilling.
The Company's contract is with Minera Petaquilla, S.A. Cabo currently has four drills on this project and a fifth drill is being mobilized from Canada. In addition to the further 14,000 meters of drilling, the Company will supply all of the labour required for site preparation and helicopter support.
The Company continues to increase its work force in Panama and now employs over forty people on this project. The Company is also adding to its local work force and has started an on-the-site training program for Panamanians.
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
John A. Versfelt, Chairman, President and CEO
Further information about the Company can be found on the Cabo website (http://www.cabo.ca)

Hier werden die Shares für das management nicht zu ausverkaufspreisen rausgehaut.
Sondern ziemlich teuer im Vergleich zum Kurs.

Cabo to Drill 30,000 Meters on Labrador Iron Mines's Schefferville Project and Grant Employee Stock Options
Monday August 18, 9:00 am ET
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2008) - Cabo Drilling Corp.'s (TSX VENTURE:CBE - News; "Cabo" or the "Company") Montreal division, Forage Cabo Inc., has been awarded a contract by Labrador Iron Mines Limited, of Toronto, Ontario, to complete 30,000 meters of reverse circulation drilling at Labrador Iron Mines' Schefferville Project located near Schefferville, Quebec.
The purpose of Labrador Iron Mines' reverse circulation drill program is to provide data for a NI 43-101 compliant resource estimate on the various Schefferville deposits, including a reserve estimate on the Project's Phase One Properties, and to assist with both short term mine planning and with longer term operational planning (see Labrador Iron Mines' news release dated July 2, 2008).
Cabo's work on the project commenced in late July 2008. The Company is utilizing two Acker reverse circulation drills on the project.
About Labrador Iron Mines Ltd.
Labrador Iron Mines Holdings Limited was established with the primary business objective of exploring for and developing direct shipping iron ore deposits in the Labrador Trough area of Newfoundland and Labrador. The Company operates its Schefferville Project through its wholly-owned subsidiary, Labrador Iron Mines Limited. Labrador Iron Mines Limited plans, subject to receipt of permits, to commence shipment of iron ore by mid-2009.
Employee Stock Options
Cabo also announces that it has, subject to regulatory acceptance, granted 587,000 incentive stock options to employees, under terms of its Stock Option Plan, granting the right to purchase up to 137,981 common shares of the Company at $0.65 per share, up to 311,006 commons shares at $0.75 per share, and up to 138,013 common shares at $0.85 per share.

About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
John A. Versfelt, Chairman, President and CEO

Nobel!

Cabo Signs Lease Agreement With London & Regional (Panama) S.A.
Thursday August 21, 9:00 am ET
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2008 - Cabo Drilling (Panama) Corp., a wholly owned subsidiary, of Cabo Drilling Corp.'s (TSX VENTURE:CBE - News; "Cabo" or the "Company") has entered into a lease agreement with London & Regional (Panama) S.A., Managers of the Panama Pacifico project in the Republic of Panama. The lease will provide immediate premises for Cabo's Panama division, in an existing structure and new premises, upon completion of its offices in the new International Business Park. Ground breaking for the business park is planned for November 2008.
The 2,750 hectare Panama Pacifico project is strategically located directly across from Panama City on the old US Howard Air Force Base and overlooks both the Panama Canal and the Pacific Ocean. The project Master Plan calls for redevelopment, over the next 40 years, of what was once home to 10,000 military personnel, into an entire new city district within a tropical setting of lush forest and hills. Panama Pacifico is targeted to become "...the newest city in Central America. A place you will want to work, live, visit, vacation and enjoy!"Cabo is pleased to find its place alongside neighbors like MEC Repairs, Dell Panama. The Red Cross, Caterpillar, Singapore Airlines and 3M who are also residents of the new global business hub within the Panama Pacifico Master Plan. Along with the expansion for the new city being built by London & Regional, there are also the advantages of an airport within walking distance, duty free zones, gated community, tax, immigration and labor incentives created for the Panama Pacifico project.
Cabo is building an increasing presence in Panama with a larger than 50% growth rate since January of this year. It enjoys the benefits of being a good corporate citizen in the Republic of Panama and is seeing positive results from offering better than average employment opportunities in Panama. The Company is beginning to see the benefits of training a local workforce.
"These are exciting times for our Company" comments Herb Butler, Operations Manager for Cabo in Panama, "Not only does this solidify our position in Panama but it gives us great access to the rest of Latin America".

About Cabo Drilling Corp. (TSX VENTURE:[url='http://finance.yahoo.com/q?s=cbe.v&d=t']CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
John A. Versfelt, Chairman, President and CEO

Dass Cabo noch unter 0,4 fällt...
Da hätt ich viel Geld verloren bei einer Wette....
Ich find auch nichts Negatives, sie haben zwar relativ hohe schulden aber gut "verteilt".
Warte jetzt auf die Zahlen, vielleicht gibt das Aufschluss....

Cabo to Drill Up to 10,000 Meters for New Millennium Capital Corp.
Tuesday August 26, 9:00 am ET
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 26, 2008 - Cabo Drilling Corp. (TSX VENTURE:CBE - News; "Cabo" or the "Company") announces that New Millennium Capital Corp. of Calgary, Alberta, has awarded Cabo's Ontario division a contract for up to 10,000 meters of reverse circulation drilling on New Millennium's DSO (Direct Shipping Ore) projects near Schefferville, Quebec.
New Millennium's 2008 summer drilling program, intended to upgrade New Millennium's historical resources to NI 43-101 standards, is expected to total 10,366 meters (155 holes). New Millennium has eight two-person geological field crews on the ground to complete the mapping of the northern phase II area, and supervise the reverse circulation drilling. The Company has mobilized a 3rd drill, a new reverse circulation Nodwell mounted Acker to the project, in addition to the two BBS25 drills currently on site.
This is Cabo's third drilling contract with New Millennium. The Company's first contract for approximately 8,000 meters of BTW size core was completed in October 2006 on New Millennium's LabMag and KeMag Iron Ore Projects in the Provinces of Newfoundland & Labrador and Quebec respectively. The Company's second contract for 6,700 meters of BQ diameter core was completed on April 30, 2008 on New Millennium's 100% owned KeMag Iron Ore project near Lac Harris in Quebec.
About New Millennium
New Millennium holds a 100% interest in the KeMag Property (Quebec) and an 80% interest in the LabMag Property (Newfoundland and Labrador). Both properties are located within the Millennium Iron Range, the centre of which is located approximately 230 km north of Labrador City, NL and 40 km northwest of Schefferville, QC. The Company also has a 100% interest in 271 DSO claims and an 80% interest in 35 DSO claims in Quebec and Labrador that contain, based on historical estimates that are not in compliance with NI 43-101, in excess of 100 million tons of direct shipping quality ore. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
John A. Versfelt, Chairman, President and CEO

Zitat von Tschonko

Dass Cabo noch unter 0,4 fällt...
Da hätt ich viel Geld verloren bei einer Wette....

Ich auch Tschonko! Hab sie aber immer noch und werde auch weiter halten. Der einzige Grund, den ich mir vorstellen kann, sind sinkende Margen in der Branche. Hab ich irgendwo gelesen, aber frag mich nicht wo. Nach dem unterschreiten der 0,50 CAD hatte ich schon sowas befürchtet, weiter als jetzt kanns nicht fallen oder es ist was faul. Immerhin gab es einen kleinen Insiderkauf http://www.canadianinsider.com…ansactions.php?ticker=cbe

Grüße

Bobelle,
wüsste nicht, was da faul sein sollte...

Ich glaub, die sind ganz gut ausgelastet.

Eine Meinung aus stockhouse:

"Someone asked about debt. It is well-managed. They had 4.5 out of a 5.0 rev loan o/s but this is not surprising since for one they doubled receivables to $16MM. They have only 1MM in LTD and 1.6MM payable in 12 months. They put over 3MM in new drilling equipment last qtr. Current ratio is just fine. They have not always been profitable and fact they are and are able to contain costs to some degree while growing is IMO very good. ALL options are OUT of the money and I think we have to say the CEO and other mgmt are doing a good job at the moment. The whole sentiment towards small caps stinks and I fear even another good qtr will not see any share price improvement of note. I can see no reason to expect a really poor qtr given the performance so far this fiscal year. You are either out of these names completely, or trade them, or are longer term with faith in your original decision to invest in company."

Größere Positionen gingen zu 0,5 bis 0,55 weg.
Kann sein, dass sich da wer entledigt, haben ja alle Dünnpfiff zur Zeit...
Grüße

Nein, ich glaub auch nicht, das da was faul ist. Ich rechne immernoch mit 0,07 bis 0,08 CAD Nettoergebnis für 2008, dann sind wir bei einem KGV von ca. 5! Das mit dem Dünnpfiff kann ich nur bestätigen, hab ich selbst z.B. bei ICI.TO erlebt, wo ein Fonds ohne Rücksicht liquidiert hat.

Grüße

Wo bleiben die Zahlen?
Würd ich auch nicht veröffentlichen zur Zeit.....

Cabo Awarded Contract to Drill a Minimum 35,000 Feet for Rio Grande Silver Inc.
Tuesday September 16, 9:00 am ET
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2008) - Cabo Drilling Corp.'s (TSX VENTURE:CBE - News; "Cabo" or the "Company") U.S. subsidiary Advanced Drilling Inc. has been awarded a contract to drill a minimum of 35,000 feet of surface core drilling on Rio Grande Silver's San Juan Silver Exploration Project, located north of Creed, Colorado.

The initial phase of drilling is designed to test the north extension of the Bulldog vein system which was mined by Homestake Mining Company from the late 1960's to the mid 1980's. The program will require several coring rigs and is designed with the utmost care in relation to the protection of the environment as well as having minimal environmental disturbance. The San Juan Silver Exploration Project has received all approvals from the State and the U.S. Forest Service to begin exploration drilling. The first two drills have been moved to the property, with an additional drill expected in the future.
Rio Grande Silver Inc., acquired the right to earn a 70% joint venture interest in a roughly 25-square-mile consolidated land package in one of Colorado's most prolific silver producing districts. The venture, called the San Juan Silver Mining Joint Venture, is located in the famous Creede Mining district and has an identified resource of approximately 48 million ounces of silver with potential for considerably more through a targeted exploration program. Rio Grande Silver has joint ventured this project with Emerald Mining & Leasing, LLC, and Golden 8 Mining, LLC. (See Hecla's news release dated February 21, 2008)
About Rio Grande Silver Inc. / Hecla Mining Company
Rio Grande Silver Inc. is a wholly owned subsidiary of Hecla Mining Company. Hecla Mining Company, headquartered in Coeur d'Alene, Idaho, mines, processes and explores for silver and gold in the United States and Mexico. A 117-year-old company, Hecla has long been well known in the mining world and financial markets as a quality producer of silver and gold. Hecla's common shares are traded on the New York Stock Exchange under the symbol HL.
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.

Zitat von Tschonko

Wo bleiben die Zahlen?

Tschonko,
das frag ich mich auch, obwohl die eigentlich ok sein sollten. - Überraschend ist wie stark die Driller unter die Räder gekommen sind, EGD heute mit neuem Tief, auch bei den großen sieht's nicht besser, wie zB MDI.TO. Das war letztes Jahr ganz anders. Aber zur Zeit ist halt nichts wie es sein sollte...

VG heron

Tschonko und HEron
John Versfelt hat vor 3 Tagen in einem Meeting angedeutet, wo man per Ende Q4 (=Juni 2008 ) wohl so gelandet ist. Geht mal von von ca. 58m C$ aus. Eigene Vorgabe für GJ 2008/9 ist +20% im Umsatz, damit ca. 70m C$. Das ist natürlich nur der PLAN!
Ansonsten herrscht wohl weiterhin Vollauslastung. Die Gewinnlage läuft bei einem aktuellen Kurs von 0,3C$ auf ein KGV von unter 5 hinaus - bezogen auf das ABGELAUFENE GJ! Wenn die Welt da draußen nicht so verrückt wäre, ist Cabo mittlerweile ein klarer Kauf.
Tja, WENN...

heron,
nehme an, dass sich EGD rasch wieder erholt, wenn der Markt mitspielt.

Pauli,
danke, sind gute Informationen. 58 Mille wären sehr gut.
Hier noch mal die letzten Zahlen:
http://biz.yahoo.com/ccn/080530/200805300465289001.html?.v=1

Da waren es zuletzt 44.
Problem ist halt die geringe gross margin. Bleibt relativ wenig hängen. Aber es passt. Normal wäre 0,6C$ Kurs.
Ich brauch die 1 und ich werde sie kriegen.....

Grüße
Tschonko

Hat Versfelt noch was zu IMI gesagt?

Für die gross margin hat er was von 26% gesagt, wobei nicht ganz klar war, ob er die bereits jetzt erreicht hat oder ob das der Plan ist. Jedenfalls ist Kostensenkung eines der Ziele fürs nächste GJ. Einige "quick wins" seien wohl da auch drin. Er war da zuversichtlich.

Den 1C$ wirst Du bekommen, wenn die (meisten) Juniors und Explorer diese Krise überleben, denn letztlich kommt von denen viel Geschäft. Und derzeit haben die eben KEIN Geld, obwohl sie natürlich ALLE explorieren müssten und Cabo beschäftigen müssten.

Cabo wird eine tolle Firma, wenn die Kreditkrise im Bergbau ohne großflächige Totalschäden vorbeigeht.

IMI: Ja - auch dazu hat er viel gesagt. Große Pläne, ausbaufähig. Es gibt ein (Zitat) "SEHR erfolgversprechendes Gebiet - das beste, was ich in 26 Jahren Mining gesehen habe". Eine offizielle Info dazu kommt. Im Moment versucht Cabo, die Finanzierung auf die BEine zu stellen. Vermutlich eine EK-Privatplatzierung, weil die FK-Märkte ja nichts hergeben...

Strange Times...

Cabo Introduces Fitness-For-Work Program to Promote Health & Safety

VG heron

Teil 1:

Cabo Announces Record Annual Revenue and Earnings and Fourth Quarter Results
Friday October 31, 9:00 am ET
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2008) - Cabo Drilling Corp. ("Cabo" or the "Company") (TSX VENTURE:CBE - News; FRANKFURT:DHL - News) reports results for its fourth quarter and fiscal year ended June 30, 2008.
4th QUARTER & ANNUAL HIGHLIGHTS

----------------------------------------------------------------------------
3 months 3 months
(CDN $000s, except earnings ending ending
per share) June 30-08 June 30-07 FY 2008 FY2007
----------------------------------------------------------------------------
Revenue 14,634 11,679 58,645 38,447
----------------------------------------------------------------------------
Net Earnings (Loss) Before
Interest, Tax, Amortization,
Stock-based Compensation and
Other Items (EBITDA) 701 1,420 6,764 3,921
----------------------------------------------------------------------------
Net Earnings (Loss) Before Taxes (115) 425 3,951 1,588
----------------------------------------------------------------------------
Net Earnings (Loss) After Taxes 581 162 3,203 926
----------------------------------------------------------------------------
Earnings (Loss) per Share ($)
Basic Before Interest, Tax,
Amortization, Stock-based
Compensation and Other Items
(EBITDA) 0.02 0.04 0.15 0.11
----------------------------------------------------------------------------
Earnings (Loss) per Share ($)
Basic 0.01 0.00 0.07 0.03
----------------------------------------------------------------------------
Cash from operations(i) 815 888 5,149 2,665
----------------------------------------------------------------------------
Gross Margin % 20.0% 26.5% 23.4% 24.6%
----------------------------------------------------------------------------
Working Capital 7,280 3,272 7,280 3,272
----------------------------------------------------------------------------

(i)before changes in non-cash working capital items

The Company reports:
- Revenue of $14.63 million for the 4th quarter of 2008, an increase of $2.95 million compared to 4th quarter revenue of $11.68 million in fiscal 2007.
- Net 4th quarter 2008 earnings before interest, tax, amortization, stock-based compensation and other items of $701,078 and net earnings of $581,487 after interest, tax, amortization, stock-based compensation and other items resulting in earnings of $0.02 per share and $0.01 per share, respectively. This compares with the 4th quarter 2007 earnings before interest, tax, amortization, and stock-based compensation of $1.42 million and net earnings of $162,205 after interest, tax, amortization, and stock-based compensation resulting in earnings of $0.04 per share and $0.00 per share respectively, a positive net income swing of $419,282 from 2007 to 2008.
- Net before tax earnings for fiscal 2008 of $3.95 million compared to a net before tax earnings for fiscal 2007 of $1.59 million, an increase of $2.36 million.
- Net after tax earnings for the fiscal year 2008 of $3.20 million compared to net after tax earnings for fiscal 2007 of $926,498, an improvement of $2.27 million year over year.
- Gross margin percentage for the 4th quarter fiscal 2008 was 20.0%, compared with a gross margin of 26.5% in the 4th quarter of fiscal 2007 and 23.4% in fiscal 2008 compared to 24.6% in fiscal 2007.
- Cash from operations, before changes in non-cash working capital items, was $814,615 for the 4th quarter 2008 and $5.15 million for fiscal 2008, compared to 4th quarter 2007 cash from operations of $888,489 and $2.67 million for the fiscal year 2007.
- A current asset balance of $23.51 million and working capital of $7.28 million.
- Total assets of $38.70 million and total liabilities of $18.60 million.
"Cabo recorded its highest revenues and net income ever in fiscal 2008," Mr. Versfelt stated. "Record revenues for the fiscal year of 2008 were $58.64 million compared to $38.44 million for the fiscal year ending 2007, that's a 53% increase. In addition to the revenue growth internationally, we also had substantial growth at our Ontario division and continued strong results from our Atlantic division." "Cabo's expansion in 2007 and 2008 was fuelled by an increased number of drills in the international market and an increased number of employees worldwide," stated Mr. Versfelt. "Cabo added eight drills to the international market during the fiscal year 2008 resulting in international revenue growth of 19% of consolidated revenues for the year, compared to 5% in fiscal 2007. This expansion was carried out evenly between the divisions in Spain, Panama, Mexico and the United States."
"The Company recorded net income, after taxes, of $3.20 million and earnings per share of $0.07," Mr. Versfelt said. "We also improved our EBITDA (earnings before interest, taxes, amortization, stock-based compensation and other items) by 73% from $3.92 million in fiscal 2007 to $6.76 million in fiscal 2008. The growth within Cabo over the last four years has created a solid foundation for the years ahead."
"Cabo had gross margin performance of 20.0% for the 4th quarter fiscal 2008 (26.5% 4th quarter fiscal 2007) and 23.4% for the fiscal year 2008 (24.6% for 2007)," Mr. Versfelt stated. "We recorded gross margins in excess of 27% internationally, but this was offset by lower margins earned from our Ontario and Pacific division."
"During the first four months of fiscal 2009, seven more drills were added to the Company's international fleet, now totaling 24 of 111 drills owned by the Company. With the dramatic downturn in the financial and commodity markets, the Company does not expect to increase its fleet, nor make any significant capital expenditures," Mr. Versfelt said. "On the other hand, it is likely that our drills will be moving between divisions, taking advantage of new contracts in areas that need more drills."
"In order to improve on profitability in an environment of decreasing demand and volatile commodity prices, we must be relentless on cost control and reducing our spending, while at the same time maintaining our experienced workforce, enforcing our high safety standards, and remaining focused on high employee and customer relations," Mr. Versfelt stated. "Within in the last year Cabo has employed five general managers with extensive experience in expanding as well as retracting markets. This along with the foundation we built over the last three years will assist us in working through these changing times."

TEIL 2:

Fourth quarter ended June 30, 2008
Revenues for the quarter ended June 30, 2008 were $14.63 million compared to $11.68 million in the fourth quarter of fiscal 2007. This represents an increase of $2.95 million or 25% from the fourth quarter of fiscal 2007. During the quarter, we continued to see higher revenues from the international divisions. Net earnings for the quarter were $581,487 compared to net earnings of $162,205 incurred in the fourth quarter of fiscal 2007. This increase in profit is due to increased revenues in fourth quarter year over year and the realization of the future tax asset.
Fourth quarter gross margin of 20.0% is lower than the prior year's fourth quarter gross margin of 26.5%, primarily due to lower margins earned in the Mexico, Ontario and Pacific divisions.
General and administration expenses increased to $2.50 million in the fourth quarter of fiscal 2008 compared to $1.67 million in the fourth quarter of fiscal 2007. This increase can be attributed to increased travel, an increase in salaries because of additional personnel, additional insurance for the international operations, higher audit fees, and a bad debt allowance of $205,452.
Amortization during the quarter increased $59,158 from $709,391 to $650,233, a relatively insignificant amount.
Interest expense increased to $106,255 during the fourth quarter of fiscal 2008 compared to $94,255 incurred in the fourth quarter of fiscal 2007.
Year ended June 30, 2008
Revenue for the year ending June 30, 2008 was $58.64 million, compared to $38.44 million in 2007. This represents a 53% increase in revenues year over year. The increase can be attributed primarily to significant growth from our international, Ontario and Atlantic divisions. Revenues from our international divisions represent 19% of fiscal 2008 revenues as compared to 5% in fiscal 2007. With an increase in the number of drills at our international divisions, management expects international operations to contribute a growing percentage of the Company's total revenue stream.
Direct costs for the year ended June 30, 2008 were $44.90 million compared to $28.98 million in fiscal 2007. The increase is a direct result of higher activity, which resulted in higher revenue in fiscal 2008. Gross margins for the year ended June 30, 2008 were 23.4% compared to 24.6% during the fiscal year ending June 30, 2007. The Company recorded gross margins in excess of 27% internationally, but this was offset by lower margins earned from our Ontario and Pacific divisions.
General and administrative expenses increased to $7.28 million in fiscal 2008 as compared to $5.52 million last year. At 12.4% as a percentage of revenue in fiscal 2008, general and administration costs have decreased pro-rata year over year from the 14.4% recorded in fiscal 2007. Increased costs can be attributed to additional administration personnel in our international operations, higher travel, higher insurance and professional fees. Salaries and wage expense increased from $3.25 million in fiscal 2007 to $4.70 million in fiscal 2008, as a result of hiring additional personnel, but also because this was the most significant year for salary increases for all administration and management personnel who had received marginal increases in previous years. The Company's international expansion during fiscal 2008 resulted in increased total corporate travel costs to $461,049 as compared to $206,070 incurred during fiscal 2007.
Amortization of property, plant and equipment for the fiscal year ending June 30, 2008 increased to $2.40 million compared to $1.69 million during fiscal 2007. The increase is due to the acquisition of $5.37 million of capital assets within the last fiscal year.
The Company incurred a $392,804 interest expense during fiscal year ending June 30, 2008, compared to $255,515 incurred during fiscal 2007. Increased interest charges during the year are primarily due to higher utilization of the demand loan and operating line to finance the increased inventory and new capital leases for drilling equipment.
EBITDA (earnings before interest, tax, amortization, stock-based compensation and other items) for fiscal 2008 increased 73% to $6.76 million ($0.15 per share basic dilution) as compared to $3.92 million ($0.11 per share basic dilution) in fiscal 2007. Net income, after taxes, increased to $3.20 million for the fiscal year ending June 30, 2008 as compared to a net income of $926,498 recorded in fiscal 2007.
The Company's current cash (cash and cash equivalents) position at June 30, 2008, is $785,261 compared to $422,337 at June 30, 2007. The increase in cash is primarily due to additional deposits at the international divisions.
Short-term investments and marketable securities decreased $88,152, from $204,460 at June 30, 2007, to $116,308 at June 30, 2008. The decrease can be attributed to the disposition of some marketable securities and changes in market prices at June 30, 2008. We adjusted the value of our holdings at June 30, 2008 as recorded in the comprehensive income statement. At June 30, 2008, the balance of $116,308 consists of shares in Canadian public corporations.
Accounts receivable increased by $3.13 million to $11.96 million at June 30, 2008 from $8.83 million at June 30, 2007. The increase primarily resulted from higher revenues during fiscal 2008. This balance at June 30, 2008 represents 82% of revenues earned during the fourth quarter of fiscal 2008. Management expects to reduce receivables as the business consolidates.
Inventory levels increased by $4.13 million to $9.65 million at June 30, 2008 from $5.52 million at June 30, 2007, as a result of the expansion into Spain, Panama, and Mexico, as well as growth in the Ontario division. Management anticipates the inventory levels to be reduced as the Company rationalizes its inventory between divisions and implements a management information system that will provide just in time inventory information.
Property plant & equipment increased to $14.17 million at June 30, 2008 from $10.82 million at June 30, 2007 an increase of $3.35 million during the year because of additions to the drill and large equipment fleet. The Company invested $5.47 million in new property plant and equipment in the past fiscal year.
Consolidated total assets increased in fiscal 2008 to $38.70 million at June 30, 2008 from $26.97 million at June 30, 2007. The increase is primarily due to additions to our capital asset base, higher inventory and increased total accounts receivable at June 30, 2008. The increase in accounts receivable has grown in conjunction with the increased revenues, whereas inventory increased in all international and the Ontario division.
Consolidated total liabilities increased by $4.94 million to $18.60 million at June 30, 2008, from $13.66 million at June 30, 2007, primarily as a result of the increased term and operating line borrowings required to fund the increased inventory, receivables and capital assets. Accounts payable also increased by 46% to $7.70 million at June 30, 2008 as compared to $5.24 million to fund the increased inventory.
The mineral drilling industry is dependent on demand for precious, base and strategic metals, as well as precious stones. Demand and supply factors for these commodities can change dramatically up and down, as we have witnessed in the past two years, causing dynamic shifts in the supply of drills and drilling personnel from under supply to over supply. The recent financial stress in financial credit and equity markets, as well as significant global currency changes, have caused substantial negative changes to the global metals supply and demand factors, resulting in much uncertainty in the global mining and related services markets. Management has initiated further cost and spending controls, as well as risk management procedures throughout the Company. Largely due to prudent debt management over the past two years, the Company's banking facilities are safe and debt ratios are low. Senior management is very focused on careful cash management, reduction of debt, high customer relations and high employee relations.
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; and Cabo Drilling Spain S.L. of Sevilla, Spain. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.

November 04, 2008
Cabo Drilling Shows Resilience, Thanks To The Long-Term Planning Of Its Founder
By Charles Wyatt

No mistaking what Cabo Drilling does – it’s in the title. The company has four well-placed divisions in Canada from which it provides mining related and specialist drilling services down into the States as required. The company, under the energetic management of founder John Versfelt, has also spread its wings into Mexico, Panama, Spain and the Balkan states, and financial results just announced for the fourth quarter and for the whole year to end June 2008 show the wisdom of this expansion. In the fourth quarter revenue rose by C$2.95 million to C$14.63 million when compared with the same quarter in 2007, and for the full year it rolled out at a record C$58.65 million as against C$38.45 million.

As John Versfelt points out, Cabo has added a further seven drills to its international fleet since June and the international divisions are now operating 24 drills out of a total of 111 drills in the company. In the year to end June 2007 revenue from the international divisions accounted for only five per cent of revenue compared with 19 per cent last year and this trend is expected to continue as these divisions now have more drills. This has to be seen as a very shrewd move, as the company has the expertise to carry out all types of drilling operations – deep hole, surface, underground directional reverse circulation and geotechnical – and there are not many others around the world with this ability. It means that the customer base is not confined by any means to mining exploration companies, but widens out into oil and gas companies and those involved in civil construction. This provides flexibility during difficult times and Cabo has no need now to add further to its fleet nor make any significant capital expenditure as its drills are all either already new or have been refurbished recently.

Even so it has to be accepted that work will be harder to find, and costs have to be controlled and spending reduced. However John Versfelt prioritises the need to maintain the experienced workforce that he’s built up over the last four years. In the last year five general managers have been taken on who have had plenty of experience of drilling though good and bad conditions. The key thing is to maintain good customer relations by carrying out efficient work to time and within budget. Drills can also be moved within divisions to ensure that new contracts can be won in areas that need more drills. Add to this the fact that expansion of the company has meant that profit margins have always been kept low in order to maintain a competitive edge, and you have an ideal company to face current market conditions.

The increase in revenue last year can be attributed to growth in the international, Ontario and Atlantic divisions, and it is worth explaining that the Atlantic division, based in Newfoundland, specialises in underground and surface core drilling, slimhole core drilling for oil and gas exploration, and geotechnical drilling for engineering services and environmental assessments. Customers for this division include well known companies such as Teck Cominco, Altius Minerals, Paragon and Playfair.

It is interesting to note that gross margins of 27 per cent were achieved by the international divisions as this compares with the average of 23.4 per cent across the rest of the divisions, marginally down on the previous year. The blame for this lies with the Ontario and Pacific divisions – the latter operating out of Surrey in British Columbia and responsible for specialised core drilling for the potash industry. The Ontario division operates out of Kirkland Lake and has widened its services into customised labour supply contracts and remote transport of drilling equipment and supplies.

Cabo is now well into the financial 2008/9 year, and is keeping its finances in good order. The expansion programme on which John Versfelt embarked four years ago means that Cabo can now claim to be one of the industry’s larger mineral drilling services companies and it is already dabbling its toes into West Africa. As far as mining companies are concerned it can offer drilling services to major, mid-tier and junior mining and exploration companies, and can provide expertise in projects ranging from early-stage reconnaissance drilling through to resource definition and advanced stage mining. By consolidating within the mineral drilling industry, John Versfelt points out, Cabo has gained a competitive edge through efficiency, productivity and scale, and is now able to bid for contracts from a range of other industries. He has always been a long term planner and this is now paying off big time.

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Cabo Expands Drilling Services Into Albania and Is Awarded a Minumum 10,000 Meter Drill Contract With Balkan Resources Inc.
Wednesday November 12, 9:00 am ET

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2008 - Cabo Drilling Corp.'s (TSX VENTURE:CBE - News; "Cabo" or the "Company") majority owned Balkan States Drilling SH.P.K. of Tirana, Albania has been awarded its first drilling contract in Albania. The contract is for a minimum 10,000 meters of core drilling on Balkan Resources Inc.'s Kokogllave Drill project in the district of Devolli, Albania.

The Kokogllave project (Koko) is located near the town of Bilisht which lies south east of Tirana, the capital of Albania. Koko is close to the border between Albania and Greece and is situated within the historic lateritic nickel/cobalt mineral region of Korca/Devolli.
Albania, which is one of the few remaining major under explored mineral regions in the world, is a Mediterranean country with unique geographical and geological features. The country is located 82 kilometers across the Strait of Otranto from Italy. Albania has a stable Parliamentary Democracy with a democratically elected government. The Prime Minister is the head of government in a pluriform multi-party system. Albania is a candidate country for admittance to the European Union ("EU") and was recently accepted as a member of NATO. The government has adopted EU integration as the strategic goal of the country and on April 13th, 2007 signed a bilateral agreement with the EU. Albania is making strong progress towards EU admittance and has been a strong ally of Western Europe.
"Cabo is pleased to announce the expansion of the Company's drilling services into the Albanian market place," stated John A. Versfelt, President and CEO of Cabo Drilling Corp. "Together with our Albanian partner, Fatbardh Doko, we have identified a number of opportunities within the country and will use our field office in Albania as a gateway location for potential prospects in the Balkan States Region of Eastern Europe. To this end, Cabo has formed Balkan States Drilling Ltd. a joint venture company with SHSHMN DOKO to offer exploration drilling services in Albania and the rest of the Balkan States Region."
About Balkan Resources Inc.
Balkan is a Canadian junior mining and exploration company focussed primarily on nickel and copper opportunities in Albania. The company has an operations office in Tirana, Albania. Balkan is currently in the process of seeking TSX Venture listing. Claude Schimper, C.O.O. of Balkan Resources Inc. said that "The creation of a Canadian-Albanian joint venture drilling company represents a new phase in mineral exploration in Albania enabling greater exploration opportunities in Albania".
About Cabo Drilling Corp. (TSX VENTURE:CBE - News)
Cabo Drilling Corp. is a drilling services company headquartered in North Vancouver, British Columbia, Canada. The Company provides mining related and specialty drilling services through its Canadian divisions in Surrey, British Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale, Newfoundland; as well as Cabo Drilling de Mexico S.A. de C.V. of Hermosillo, Sonora, Mexico; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; Cabo Drilling Spain S.L. of Sevilla, Spain; and Balkan States Drilling SH.P.K. of Tirana, Albania. The Company's common shares trade on the Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under the symbol: CBE.
ON BEHALF OF THE BOARD
John A. Versfelt, Chairman, President and CEO