Brochure - Mitchell Services

C O M P A N YO V E R V I E W

Mitchell Services Limited:“Our People, Your success”Mitchell Services continues to build on strong values to maintain it’s position as leading provider of global exploration drilling services.Written by: Andrew Rossillo Produced by: Wayne Masciotro

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Mitchell Services Limited:“Our People, Your success”Mitchell Services continues to build on strong values to maintain it’s position as leading provider of global exploration drilling services.Written by: Andrew Rossillo Produced by: Wayne Masciotro

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MITCHELL SERVICES L IMITED

M itchell traces its history to the early days of Australia’s natural

resources boom in the 1970s. Since their first project in North Queensland, the company has grown to encompass operations around the world, including in Africa, the Americas and the Asia-Pacific. This highlights the impressive growth of the company, originating in 1969 with Peter and Deidre Mitchell incorporating Mitchell Drilling and commencing operations with just a single drill rig.

Having been extremely successful in the resource industry, the Mitchell Family made

a decision to continue to invest in companies and technologies that create value and act as a bridge to a sustainable world.

This decision was made from the belief that a realistic difference can be made and the family can contribute via their investments to the community, industry and the environment.

Drill Torque Reverse Merger Among their most strategic investments was the decision to re-enter the Australian market through the reverse merger with Drill Torque. Established in 1992, Drill Torque has been working for junior explorers and mining

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h t tp : / /mi tche l l serv ices .com.au/ 5 0


Men In Field

companies. Whilst predominantly focused on Queensland’s northern minerals province, the company has completed projects all over Australia and Papua New Guinea and listed on the Australian Stock Exchange in 2011.

Mitchell Services Limited evolved from the merger of these two businesses which each specialised in various segments of the drilling market. “Upon merging with Drill Torque, the company was renamed as Mitchell Services (ASX:MSV). As part of the transaction, the Mitchell management team were integrated,” explains Mitchell

Services’ Chief Executive Officer Andrew Elf. “After transaction completion, we had to turn the business around as it was greenfield, gold and copper focused and run down due to the downturn in the mining services sector. Mitchell has typically worked with large “Tier 1” companies in addition to greenfield exploration companies. What we did was input all the Mitchell systems, structures and procedures of a forty plus year old company. We committed strong resources to refocus and rebuild the business to position it for future growth.

Exploration Consumables?We supply quality, proven products sourced from reputable suppliers

world-wide – with full backup services on all items sold.

• Blast Hole • Waterwell • Geothermal • Exploration • Construction • Environmental

Searching for quality

Suppliers of Hammer & Hammer Bits 3˝-12˝, AMC Drilling Fluids, Fang PDC Bits, Diamond Core Bits, Rig Consumables, Geological Supplies, PVC & Steel Casings - all diameters.

Head Office & Main Warehouse: Unit 2, 57 Alexandra Street, North Rockhampton, QLD 4701T: (07) 4927 7276 • M: 0407 636 818 • E: [email protected] Warehouse: 200 Cobalt Street, Carole Park, QLD 4300T: (07) 3271 1440 • E: [email protected] Isa Warehouse: 19 Duke Street, Mount Isa, QLD 4825T: (07) 4743 1644 • E: [email protected]

www.abcrocky.com.au Delivery available via Crane truck

ABC Products is an authorised agent fordrilling and mining products from:

MITCHELL SERVICES L IMITED E X P L O R AT I O N


“The reverse merger with Drill Torque was the first step in rebuilding the company and repositioning the business to work with major ‘Tier 1’ mining companies. We put the necessary systems in place and obtained the required ISO certifications,” says Mr. Elf. “The company has won $30 million worth of contracts with Tier 1 clients since bedding down the Drill Torque merger late last year at a time when many competitors were struggling.”

Since 1969, the Mitchell Group has successfully developed and invested in companies that innovate, deliver and do things in ‘a better way’. Among the Group’s competitive advantages, Mr. Elf states, “We are always committed to finding a better way. We’re an ASX listed company that’s been in this industry since 1969. We’re a nimble team that can make things happen safely and efficiently for our clients.”

Mr. Elf has over 15 years finance, commercial and operational experience working in various senior roles both in Australia and overseas and was a Financial

Director in Indonesia for a top 100 ASX listed company before transitioning into the drilling industry in early 2004.

Mr. Elf continues to combine his rich experience with that of Mitchell Services’ vast experience across different commodities and market sectors internationally, reflecting their position as a leading provider of safe, efficient and proactive drilling services. Their core areas of operation include coal exploration drilling, mineral exploration drilling, mine services & large diameter drilling, coal seam gas & shale gas drilling, coal mine methane drainage, directional drilling and wireline services. The Company has adopted a diversified approach to business development and believes the most significant opportunities are likely to emanate from the coal and precious metals sectors.

Acquisition of Tom Browne Drilling The acquisition of Tom Browne Drilling marks one of the most significant moves the company has made in realising its vision, and


further promotes the company’s plans for continued expansion.

In August of this year, Mitchell Services Limited entered into an agreement to acquire the drilling rigs and associated assets from the receivers of Tom

Browne Drilling Services Pty Ltd (Tom Browne) for $9.5 million, positioning the company for continued growth as a leading provider of drilling services within Central and Eastern Australia.

The Tom Browne assets include

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29 drilling rigs and ancillary equipment. “With the $20.2 million equity raising and the acquisition of the Tom Browne assets, our rig fleet doubled in size from 29 to 58 rigs. That certainly makes us one of the largest providers of drilling services in Australia,” explains Mr. Elf.

Company Information

I N D U S T RY

Exploration

H E A D Q U A RT E R S

Seventeen Mile Rocks,

Australia

F O U N D E D

1969

E M P L O Y E E S

100

R E V E N U E

$30 Million

P R O D U C T S /

S E R V I C E S

Mitchell Services Limited (ASX code: MSV) has a proud history dating back to 1969 and a strong record of delivering safe, efficient and proactive drilling services to the global exploration, mining and energy industries.We are committed to the highest levels of service and safety, with a blue chip client base ranging from major mining and energy houses to governments and private explorers.

Mitchell Services Limited

Address 112 Bluestone Circuit

Seventeen Mile Rocks, QLD , AUSTRALIA, 4073

Tel. +61 07 3722 7224 Fax. +61 (7) 3722 7256

[email protected]

mitchellservices.com.au

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Brochure - Mitchell Services