Geodrill Limited (GEO) 2020年年度报告「TSX」.pdf

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1、?Dear Geodrill Shareholders:We ended the year with the best fourth quarter on record,increasing our net income by 325%.Given the environment and the extraordinary year,that says a lot for our business.Despite the headwinds and disruption,our business model and the strength of our balance sheet shone

2、 through.We closed the second half of our year with outstanding momentum as utilization rebounded and we established a footprint in a new geographic region.The Market Environment was Unforgettable Much has been said about 2020,and it certainly was one of the most profound years in memory.Stock marke

3、ts plummeted then recovered,central banks collapsed interest rates to zero,and money with little risk became virtually free.Many businesses were shut down,most worked from home,people were afraid,plane travel declined 98%,Brexit happened,and a new U.S.president was elected.Despite the backdrop of 20

4、20,Geodrill executed a dynamic and productive year,capped by our game-changing expansion into South America.We broadened our service offering to include drill and blast services,continued to organically grow by establishing a footprint into South America and delivered on our promise to returning fre

5、e cash flow to our shareholders.If there is one thing the last year has reinforced,it is the importance of resiliency.We think of resiliency as the flexibility and adaptability to sustain strong performance regardless of operating environment conditions.As mentioned in previous letters,we deal in vo

6、latile markets,unstable governments,and at times,extreme weather conditions.To succeed one needs skill,solid resources and equipment,but above all a strong strategy for optimizing business opportunities while mitigating risk.Our Business Continued Strong Despite Headwinds While many things have prof