Can you give a brief introduction to Orbit Garant Chile?

The origins of Orbit Garant Chile trace back to December 2015 when our parent company, Orbit Garant Drilling Inc., headquartered in Val d’Or (Québec), decided to acquire Captagua Ingeniería S.A. established in 1956 and initially specialized in water well construction for the agricultural sector. By 2007-2008, it had expanded its services to cater to the water well construction needs of large mining companies, as well as surface drilling operations.

In 2015, Orbit Garant Drilling Services secured a significant underground mining project with Anglo American. Recognizing the need for a well-established company capable of meeting the diverse requirements of the Chilean mining sector, as well as environmental, safety, health, and tax regulations, Orbit Garant acquired Captagua in December 2015. In August 2016, we rebranded ourselves as Orbit Garant Chile S.A.

With the Anglo-American project, Orbit Garant embarked on its first underground venture, having primarily focused on surface drilling and water well construction until then. Since then, Orbit Garant Chile S.A. has continued to develop its expertise in underground projects. What have been the main milestones and projects of Orbit Garant Chile in the last two years?

Between 2022 and 2023, we executed a short and long-hole drilling project with Exploraciones Mineras S.A., the exploration division of Codelco, utilizing up to five drills. We achieved a significant milestone by drilling one of the deepest boreholes in the Chilean underground sector, reaching approximately 1,550 meters in depth. The increase in inflation, exchange rate fluctuations, and high steel prices compelled us to enhance operational and technological efficiency to meet shareholder and corporate profitability targets.

Since 2016-2017, we have been working on the Los Bronces project with Anglo American. This project presents unique challenges, especially in the dewatering domain.

Our successful bid for a significant contract with Freeport MacMoRan via Minera El Abra has extended our collaboration for an additional three years. This contract encompasses surface drilling services, including both DDH and RC systems, along with horizontal drainage systems. What value does Orbit Garant offer its customers in the competitive drilling market?

Our service portfolio includes water well construction, pumping well construction, and environmental well construction. Additionally, we offer reverse air technology for faster drilling and provide dust samples for geological analysis. We also perform drilling with diamond technology, allowing detailed subsurface analysis through core samples. We have the versatility to drill both horizontally and vertically, across varied terrains.

We also innovate in systems and applications; through the implementation of digital reporting and data analytics tools like Power BI, we identify operational bottlenecks and optimize working time. What can private companies and the Chilean government do to attract investment?

The government must ensure the stability of rules and regulations in the medium and long term. Political and social stability is essential for investors to make informed decisions about their investments. Economic factors also influence investment decisions and project viability, such as new taxes, the tax structure, and incentives for hiring diverse personnel. It would also be beneficial to promote collaboration between mining companies to standardize operational and safety requirements, like in Canada. This would simplify accreditation processes and reduce costs, allowing a quicker start to new projects and greater efficiency in drilling services. How important is the Chilean market for the Orbit Garant?

Orbit Garant began trading on the Toronto Stock Exchange in 2008, and 3 years later, it began expanding internationally. Currently, it operates in Guyana, Chile, and has some operations in Africa, representing approximately between 20% - 25% of corporate revenue, being Chile the most important branch. This geographical diversification helps stabilize corporate revenues, especially because the gold industry, predominant in Canada, and the copper industry, predominant in Chile, have different behaviors. What are the company's objectives for the coming years?

We aim for continuous growth by offering comprehensive solutions to our customers. We stand out as a niche company, focused on maintaining close relationships with our customers rather than seeking the highest number of drills in operation. Our goal is to be collaborative partners, helping our clients achieve their objectives and overcome challenges in drilling and well maintenance. Additionally, we want to consolidate ourselves as a company and team where our employees can be satisfied and are motivated to solve problems together.