Australia's Dynamic Group rises on unit's execution of drilling contracts

BWE Drilling

28/06/2022 03:15

** Shares of drilling and blasting services provider Dynamic
Group Holdings  DDB.AX  rise as much as 4% to A$0.260
    ** Stock set to mark best session since April 29, if gains
hold
    ** Co says https://www.asx.com.au/asxpdf/20220628/pdf/45b9h7x703jnss.pdf
 its unit Dynamic Drill & Blast Pty Ltd has executed a formal
contract with Aurenne Parker Range Pty Ltd 
    ** Contract is for the delivery of drill and blast services
at the Parkers Range Gold project in Western Australia
    ** Co has also commenced mobilisation of three drill rigs to
the Northern Goldfields Interconnect Pipeline project for
delivery of drill and blast services to Nacap Pty Ltd
    ** The combined contracts are expected to generate revenue
of between A$8 mln  ($5.54 mln) to A$10 mln over the next six to
12 months
    ** Stock hits highest level since June 15
    ** As of last close, DDB down ~43.2% YTD 



($1 = 1.4434 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))