Foraco International (FAR) Planet MicroCap Showcase summary

Business overview and market position

• Diversified drilling services provider for mining and water sectors, operating in 22 jurisdictions with 2,300 employees and 290 rigs.

• Focus on Tier One customers, with all financials reported in US dollars under IFRS.

• Fleet includes rotary, diamond, combination, and underground rigs, with ongoing investment in new and refitted equipment.

• Recent strategic exit from unfriendly jurisdictions, including Russia, and entry into the US market.

Service offerings and mining life cycle

• Services span exploration, pre-feasibility, feasibility, and life-of-mine drilling, with a focus on long-term contracts.

• Drilling in producing mines is less sensitive to metal price cycles and offers stable demand.

• Eight types of drilling services provided, including core, underground, dewatering, infrastructure, and geotechnical work.

• Water services are increasingly important, with complex dewatering and monitoring wells in diverse environments.

Growth strategy and innovation

• Growth pillars: deepen Tier One customer relationships, expand water services, target transition metals, and drive innovation.

• Remote-controlled rigs and in-house directional drilling enhance safety, efficiency, and workforce diversity.

• Specialty projects and deeper drilling for EV metals are key differentiators.

• Innovation in field techniques and remote operations supports competitive advantage.