Swick Mining Services Limited reported operating results for the third quarter ended March 31, 2018. Revenue for the quarter was $33.2 million, up from $29.4 million for the corresponding period a year ago and down from $35.2 million in the previous quarter. The reduction in revenue compared to second quarter of 2018 was predominantly due to the end of the Rosebery contract at end of January.

Revenue is expected to increase in fourth quarter of 2018 as mobilise additional rigs to the Turquoise Ridge mine in Nevada, USA and some additional rigs to existing Australian contracts.

For the full year of 2018, results for the Drilling Business are expected to be at the lower end of the previously announced Revenue and EBITDA guidance of $135 million to $145 million and $17.5 million to $19.5 million respectively. This is primarily due to later than expected mobilizations of additional rigs to existing jobs.