26/11/2021 - 11:20

Dynamic wins $12m in work

26/11/2021 - 11:20

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Listed drilling business Dynamic Group Holdings has secured work on mining operations in WA, with six contracts worth at least $12 million.

Dynamic wins $12m in work
Dynamic has won new contracts for work in the Pilbara, Gascoyne, and Goldfields regions. Photo: Dynamic Group Holdings

Listed drilling business Dynamic Group Holdings has secured work on mining operations in Western Australia, with six contracts worth at least $12 million.

Three contracts were awarded to Dynamic’s Drill and Blast business from a “tier 1 ASX listed iron ore producer” for work in the Pilbara, the company announced this morning.

The work involves mining, civil construction, and specialised blasting.

Further contracts were awarded to Drill and Blast for work in WA’s Gascoyne and Goldfields regions.

Meanwhile, Dynamic’s recently acquired Orlando business was awarded a contract from Global Lithium Resources to complete RC drilling at the explorer's Marble Bar project in the Pilbara, with a 60,000-metre program planned for the first quarter of 2022.

Global Lithium managing director Jamie Wright said it would be the largest drilling program undertaken by the company, targeting greenstones within the project's Archer deposit.

“We were impressed with Orlando’s capabilities, track record of safety and community and their deep experience in lithium," he said.

All six contracts are expected to generate between $12 million and $14.15 million in additional revenue for Dynamic, which listed on the ASX in August last year.

The Mark Davis-led company was trading as Dynamic Drill and Blast, but this morning said it had received approval from ASIC to change its name to Dynamic Group Holdings.

Its shares were up more than 11 per cent at 1:22pm AEDT to trade at 49 cents.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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