Energold Drilling Corp. (TSX-V:EGD) has reported a 2007 net income of $8.5 million, up 130% from the Vancouver company's 2006 total.
Gross revenue was $26 million, up 63% from $16.5 million in 2006. The company, which provides contract diamond drilling services to the mining industry, reported fourth-quarter net earnings of $3 million.
Energold continues to ride a wave of high commodity prices. Its Latin America business has proved profitable, but Energold said that it plans to expand on five continents.
By year's end, it plans to increase its number of rigs to 41 from the 17 it had at the beginning of 2007. Energold expects to have a further 15 rigs by mid-summer.
Energolds' share price range during the past week: around $0.12; 52-week high: $0.29; 52-week low: $0.10.