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Latest Foraco Intl Stock News | OTC:FRACF | Benzinga

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.

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TSX:FAR

Global provider of mineral and water drilling services Foraco International SA (TSX: FAR) (OTC: FRACF) has 

Foraco Bags Drilling Contract In South Australia - Read For More Details

FORACO INTL MARSEILLE ORD by Foraco International, Marseille

Foraco International SA

Foraco Intl

Global provider of mineral and water drilling services&nbsp;Foraco International SA&nbsp;(TSX:<a class="ticker" href="https://www.benzinga.com/stock/FAR#TSX">FAR</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FRACF#OTC">FRACF</a>) has&nbsp;<a class="editor-rtfLink" href="https://stockhouse.com/news/press-releases/2022/05/25/foraco-international-wins-a-major-60-mu-deep-directional-drilling-contract-with" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">secured a major contract</a>&nbsp;with&nbsp;BHP Group Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) BHP Olympic Dam.

The contract is for exploration and evaluation drilling services near the Olympic Dam mine complex, includes diamond drilling, and is signed for three years with an option for two more years.

The contract involves five rigs, the most of which are remotely operated, and has a total face value of A$80 million, or $60 million excluding options. The face value could exceed $90 million if the two-year options are exercised.

&quot;We have been working hard to market our technical expertise in deep diamond directional drilling services around the world for nearly a decade now and are very excited to start a new relationship with BHP,&quot; commented CEO Daniel Simoncini.

Price Action:&nbsp;FAR shares are trading higher by 17.93% at C$2.17 on TSX on the last check Wednesday.

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Latest Foraco Intl Stock News | OTC:FRACF | Benzinga

Wednesday, May 25, 2022

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