What differentiates Energold in the exploration drilling space?

Energold covers a niche area of exploration. About 95% of our fleet is made of man-portable rigs. These lightweight and compact rigs can easily be transported, which makes them ideal for difficult-to-access areas since they can fit through tight spaces. Energold is therefore perfectly positioned to service mining operations in emerging mining jurisdictions, reaching into remote sites. Our rigs allow for a more organized worksite, a more controlled safety protocol, and have a lower environmental impact with minimal site disturbance - which is a great advantage in the permitting process. Even though our man-portable rigs are small, they are also extremely powerful, suited not only for frontier exploration programs but also for conventional larger-scale programs. Operationally, our equipment competes with large mainstream rigs. 

Energold has the technology, expertise, and international-level safety standards to stand out. Our management team prioritizes continuous learning and upskilling. What our clients also appreciate is that our teams are also made of engineers and geologists; we speak the same language as our clients and they will often come for our perspective on how to approach a specific challenge.  

Could you detail the environmental benefits of Energold’s fleet of mobile and modular drill rigs?

Energold’s equipment is designed to be non-invasive, with a significantly smaller environmental footprint compared to traditional rigs. For example, using conventional rigs in a jungle environment often requires clearing trees to make space for the equipment. In contrast, our compact rigs eliminate the need for any tree removal, preserving the natural surroundings. Because our rigs are modular, they can be easily transportable using ATVs, canoes, helicopters, or even by hand, whereas conventional rigs need to be transported via large trucks. Our products ensure minimal to no environmental disturbance as well as  increased operator safety, reducing the risk of hazards and accidents associated with operating large equipment. 

What are the current innovation trends pertinent to the drilling space and how is Energold positioned from a technology perspective?

The best innovation in drilling over the last 25 years has been wireline coring. This drilling technique, used in mineral exploration, enables the extraction of cylindrical core rock samples from depths of up to thousands of meters. It operates using a wireline system, which allows for the extraction of the inner tube containing the core without the need to pull up the entire drill string. Energold is renowned for its expertise in wireline coring particularly in challenging terrains (jungles, mountains, high-altitude zones) where precision, mobility, and a minimal environmental impact are of the essence. As the mining industry transitions to net-zero operations and higher ESG standards, we also see the gradual replacement of traditional diesel-powered machines with electric-powered drill rigs and equipment – which produce lower emissions and less noise pollution, protecting communities close to drilling sites. 

As the place of origin for Energold, how important is the Latin American market for Energold?

For many years we focused on Latin American countries such as Brazil, Ecuador, Peru, Mexico, Nicaragua, and the Dominican Republic, but the company has diversified globally through acquiring smaller drilling companies in Europe, Africa, the Middle East, Asia, and the Americas. Although Energold’s foundations are in Latin America, we are now a fully international service provider with a diverse footprint.

Mexico once accounted for over half of Energold’s business. How has recent regulatory uncertainty impacted demand in this market?

Our operations in the country have significantly decreased over the past six years, as no new concessions were issued during the previous administration. Additionally, the mining law amendments announced in 2023 have added further uncertainty to the landscape. As a consequence, greenfield exploration has taken a big hit. That said, Mexico remains an excellent mining jurisdiction, and we are optimistic about its potential for recovery with the new government’s administration.  

Could you elaborate on the key growth opportunities you identify for Energold in Latin America this year?

Brazil is a mining powerhouse that continues to gain scale. The Peruvian mining industry has also experienced a strong recovery over the past seven months. We have also been pleased to start 2025 on an encouraging note in Mexico, with some drilling permits coming through.