June 29, 1998


Dynamic Materials Corporation
551 Aspen Ridge Drive
Lafayette, Colorado  80026

      RE:   REGISTRATION ON FORM S-8 OF 150,000 SHARES OF COMMON STOCK TO BE
            ISSUED PURSUANT TO THE DYNAMIC MATERIALS CORPORATION 1997 EQUITY
            INCENTIVE PLAN AND 50,000 SHARES OF COMMON STOCK TO BE ISSUED
            PURSUANT TO THE DYNAMIC MATERIALS CORPORATION EMPLOYEE STOCK
            PURCHASE PLAN.

Ladies and Gentlemen:

      We have acted as counsel to Dynamic Materials Corporation, a Delaware
corporation (the "Company"), in connection with the registration by the Company
of 200,000 shares of Common Stock, $.05 par value (the "Shares"), described in
the Registration Statement on Form S-8 of the Company being filed with the
Securities and Exchange Commission concurrently herewith. Of the 200,000 Shares
to be registered, 150,000 of the Shares will be issued pursuant to the Company's
1997 Equity Incentive Plan (the "Equity Incentive Plan") and 50,000 of the
Shares will be issued pursuant to the Company's Employee Stock Purchase Plan
(the "Purchase Plan"). In such connection, we have examined certain corporate
records and proceedings of the Company, including actions taken by the Company
in respect of the authorization and issuance of the Shares, and such other
matters as we deemed appropriate.

      Based on the foregoing, we are of the opinion that the Shares have been
duly authorized and, when sold as contemplated by the Equity Incentive Plan and
the Purchase Plan, as applicable, and the Registration Statement, will be
validly issued, fully paid and nonassessable.

      We hereby consent to the use of this opinion as an exhibit to the
above-mentioned Registration Statement.

                        Sincerely,

                        /s/DAVIS, GRAHAM & STUBBS LLP