EXHIBIT 5.1


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                        [COOLEY GODWARD LLP LETTERHEAD]



September 8, 1997


Dynamic Materials Corporation
551 Aspen Ridge Drive
Lafayette, Colorado  80026

Ladies and Gentlemen:

You have requested our opinion with respect to certain matters in connection
with the filing by Dynamic Materials Corporation (the "Registrant") of a
Registration Statement on Form S-8 (the "Registration Statement") with the
Securities and Exchange Commission covering the offering of: (i) up to 925,000
shares of the Registrant's Common Stock, $.05 par value (the "Common Stock"),
pursuant to the Registrant's 1997 Equity Incentive Plan (the "Plan"); (ii)
50,000 shares of Common Stock issued or issuable pursuant to a nonstatutory
stock option granted to Paul Lange on September 3, 1993 (the "Lange Option");
(iii) 4,000 shares of Common Stock pursuant to a nonstatutory stock option
agreement, dated July 22, 1993, between the Company and Dean K. Allen (the
"Allen Option"); and (iv) 1,000 shares of Common Stock pursuant to a
nonstatutory stock option agreement, dated June 4, 1993 between the Company and
George W. Morgenthaler (the "Morgenthaler Option") (collectively, the "Shares").

In connection with this opinion, we have (i) examined the Registration
Statement and the related Prospectuses, and (ii) reviewed the Registrant's
Certificate of Incorporation and Bylaws and such other documents, records,
certificates, memoranda and other instruments as we deem necessary as a basis
for this opinion. We also have assumed the genuineness and authenticity of all
documents submitted to us as originals, the conformity to originals of all
documents submitted to us as copies thereof, and the due execution and delivery
of all documents where due execution and delivery are a prerequisite to the
effectiveness thereof.

On the basis of the foregoing, and in reliance thereon, we are of the opinion
that the Shares, when issued and sold in accordance with the Plan, the Lange
Option, the Allen Option, the Morgenthaler Option, the Registration Statement
and the related Prospectuses, will be validly issued, fully paid and
nonassessable (except as to shares issued pursuant to deferred payment
arrangements, which will be fully paid and nonassessable when such deferred
payments are made in full).




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Dynamic Materials Corporation
September 8, 1997
Page Two



We consent to the filing of this opinion as an exhibit to the Registration
Statement.

Very truly yours,

Cooley Godward LLP



By: /s/ James H. Carroll
    ----------------------------- 
    James H. Carroll