Australia-based Dynamic Group rises on drilling contracts

BWE Drilling

26/11/2021 04:13

** Shares of drilling services co Dynamic Group Holdings
 DDB.AX  climb as much as 11.4% to A$0.490, set for their best
session since Oct. 13
    ** Co, which was earlier known as Dynamic Drill and Blast
Holdings Ltd, says six short-term contracts have been awarded to
its Orlando Drilling and Drill & Blast units  urn:newsml:reuters.com:*:nASX9gC7Vd
    ** The most recent contract was awarded to Orlando by Global
Lithium Resources  GL1.AX  for carrying out reverse circulation
drilling at the its Marble Bar Lithium project in Western
Australia  urn:newsml:reuters.com:*:nASXxCgR6
    ** Says combined value of the six contracts is estimated to
generate between A$12 mln ($8.57 mln) and A$14.15 mln of
additional revenue
    ** Shares hit their highest since Oct. 19
    ** As of last close, stock down 21.4% this year

($1 = 1.4004 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))