[DAVIS GRAHAM & STUBBS LLP LETTERHEAD]




                                            January 19, 2001



Dynamic Materials Corporation
551 Aspen Ridge Drive
Lafayette, CO  80026

         RE:  REGISTRATION ON FORM S-8 OF 125,000 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 125,000 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. The 125,000 Shares
will be issued pursuant to the Company's Employee Stock Purchase Plan (the
"Purchase Plan"). 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 Purchase Plan 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