Drilling requires a high degree of skill and technical competence to ensure both an efficient drill program and accurate results. The Company recognizes that the profitability of any given project is determined in part by how effectively the drill rigs can be operated and the samples collected. Management believes that Geodrill’s training and monitoring program facilitates these goals in being achieved.
To date, Geodrill has approximately 450 Employees organized into two departments: Operations and Administration. Unlike some of its competitors, Geodrill employs very few expatriates. Approximately 90% of its employees are contract workers, while the remaining 10% are permanent employees. Geodrill’s large number of contract employees allows management to efficiently manage the size of its workforce in the event of a slowdown. The Company has historically compensated its workforce at the high end of the industry range. The Company believes that its remuneration and benefits package and the extensive training programs that it offers to its workers have contributed to the Company’s strong employee retention rate.