15th Oct 2018 13:39
LONDON (Alliance News) - Mincon Group PLC said Monday an aspect of its hydraulic down-the-hole hammer system was "problematic" during a test on a customer's rig on Australia, causing delays.
The company said the components of the down-the-hole hydraulic system were fitted on the customer's rig at the testing site, pressure tests were run, and the system came up to specification.
However, the final component attachment where the drill string is attached to the mast became "problematic" due to issues with the connection of the threads on the receiving end of the mast, and the pipe.
Mincon said the threads were damaged "after several attempts" and the testing team now needs to design and build a more "robust" thread to accommodate the torque that will be applied through the connection.
The Irish engineering company does not expects this to present a "major issue" or require "any substantial amendments" to the hydraulic systems more generally, but the redesign of the threads may cause a delay of "some weeks".
Mincon will release its next interim trading update October 26.
Shares in Mincon were down 4.0% at 120.00 pence each.
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