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Dynamic Drill and Blast Holdings (ASX:DDB) up 133pc after ASX listing
  • West-Australian based and focused drill and blast business Dynamic Drill and Blast Holdings (ASX:DDB) is up 130 per cent on the market today as it successfully lists on the ASX
  • The listing follows a $5 million initial public offering that was oversubscribed, which has positioned Dynamic for its next phase of growth
  • The company currently has three contracts with Rio Tinto, Fortescue Metals and Galaxy Resources
  • Managing Director, Mark Davis said this is an exciting time for Dynamic and is grateful for the support by investors
  • Dynamic is up 133 per cent on the market this afternoon and is trading for 46.5 cents per share

West-Australian based business Dynamic Drill and Blast Holdings (ASX:DDB) has seen a positive welcome to the Australian Securities Exchange (ASX)

Company shares are currently up 133 per cent as Dynamic has successfully listed on the ASX. The listing follows a $5 million initial public offering that was oversubscribed, which has positioned Dynamic for its next phase of growth.

The company has been well-supported from the top Australian businesses across the mining, civil, utility and government industries. Currently, Dynamic is providing contract and sub-contract services to three projects owned by Rio Tinto, Fortescue Metals and Galaxy Resources.

Managing Director, Mark Davis said this is an exciting time for Dynamic and is grateful for the support by investors.

"Dynamic is now well-funded for our next phase of growth and we have a clear strategy in place to achieve that. The outlook for the WA mining industry is extremely strong, supported by strong growth forecasts particularly across the gold and iron ore sectors," Mark said.

"We will continue to develop a pipeline of project opportunities and are buoyed by the level of tendering activity at the moment across both mining and civil infrastructure," he said.

The new listing has strengthened Dynamic's balance sheet and will help the company with its finance and working capital providers.

Dynamic is up 133 per cent on the market this afternoon and is trading for 46.5 cents per share at 1:29 pm AEST.


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