Dynamic books $10m in contracts

Wangara-based drilling company Dynamic Group Holdings has secured two new contracts expected to bolster revenue by up to $10 million over the next 12 months.

In a statement released to the ASX this morning, Dynamic told the market its subsidiary Dynamic Drill and Blast had inked a deal with privately-owned Aurenne Group to deliver drill and blasting services at the Park Range Gold project in the state’s Goldfields.

In addition, Dynamic has begun the mobilisation of three drill rigs to the Northern Goldfields Interconnect Pipeline Project in the Mid West and Goldfields regions.

Those works form part of a fresh contract with Victoria-based civil construction contractor Nacap, which is expected to be in place for a period of at least six months.

The company anticipates the combined revenue of the two projects to be in the order of between $8 million and $10 million.

With a strong flow of enquiries from prospective clients, Dynamic said it foresaw a significant pipeline of short, medium and long-term projects.

Dynamic shares were up 12 per cent at 3:43pm AEST to trade at 28 cents.