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- Boart Longyear (BLY) has engaged Rothschild & Co. as advisor to support the company’s evaluation of maturing debt facilities
- Boart Longyear is a provider of drilling services, orebody-data-collection technology, and innovative drilling equipment
- Rothschild & Co. will support Boart’s evaluation of potential options ahead of the maturation of the company’s debt facilities through the second half of 2022, including for refinancing or recapitalisation
- Boart Longyear is up 30.4 per cent, trading at 90 cents
Drilling services company Boart Longyear (BLY) has engaged Rothschild & Co as advisor to support the company’s evaluation of maturing debt facilities.
Established in 1890, Boart Longyear is a provider of drilling services, orebody-data-collection technology and innovative drilling equipment.
The Utah-based company’s focus is in mining and exploration activities for copper, gold, nickel, zinc, uranium, and other metals and minerals, while also working in the energy, oil sands exploration, and environmental sectors.
The engagement will support Boart’s evaluation of potential options in anticipation of the maturation of the company’s debt facilities through the second half of 2022, including for refinancing or recapitalisation.
“It is important for the company to start exploring all available options to address its future debt maturities and set us up to take advantage of future growth opportunities,” said Jeff Olsen, Boart Longyear’s CEO.
“There are clear signs that the mining and metals market is seeing increased activity as demonstrated through recent investments in our sector with major mining houses signalling increased exploration spend. We are also seeing intermediate and junior miners accessing capital through significant equity raisings allowing them to get out and explore for tomorrow’s resources.”
Boart Longyear is up 30.4 per cent, trading at 90 cents as at 10:45 am AEDT.
