Foraco International Targets Margin Recovery and 60% Utilization Rate
Foraco International SA (FAR:CA) has provided an update on its operational outlook, signaling that achieving a 60% utilization rate is a key target for the company. Management is focusing heavily on margin recovery and improving cash conversion as core strategic objectives. The company reports that industry fundamentals remain supportive, driven primarily by strong demand in the gold sector. CEO Timothy Bremner noted that gold continues to be the most significant near-term driver of drilling activity, providing a positive backdrop for Foraco's operational environment.
