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- West-Australian based company Dynamic Drill and Blast (DDB) has added three drill rigs to its fleet
- The new machines are all Epiroc D65 down-hole drill rigs
- One of the rigs is configured for reverse circulation drilling, which Dynamic says provides a growth opportunity and adds to drilling solutions for customers
- The company was able to finance the additional rigs through a recently boosted, $10 million asset finance facility with the Commonwealth Bank of Australia
- Shares are 4.4 per cent higher at 47 cents each
West-Australian based company Dynamic Drill and Blast (DDB) has added three drill rigs to its fleet.
The new machines are all Epiroc D65 down-hole drill rigs, currently located in Perth, WA.
Of the rigs, two are blast hole configured and one is configured for reverse circulation (RC) drilling.
The company says the addition of RC capabilities into its drilling fleet provides a growth opportunity to carry out grade control drilling and also adds to the drilling solutions available to its customers.
Dynamic Managing Director Mark Davis commented on the additional rigs.
“With the current strong tendering pipeline, Dynamic continues to ensure access to the right fleet to undertake new projects, as well as service any scope increases that may take place within its diversified lithium, iron ore, gold, civil and quarry current client base.”
Last month, Dynamic increased its asset finance facility with the Commonwealth Bank of Australia to $10 million, allowing the company to execute its growth strategy and provide additional capacity of potential scope increases within current contracts.
Capitalising on this, the company was able to purchase the additional drill rigs to pursue current opportunities with existing contracts and others in the pipeline.
Shares are 4.4 per cent higher at 47 cents apiece at 3:33 pm AEST.
