Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Lycopodium Limited ( (AU:LYL) ) just unveiled an update.
Lycopodium has secured an A$118 million Engineering, Supply and Labour Hire contract for KEFI Gold and Copper’s Tulu Kapi Gold Project in Ethiopia, one of the country’s first modern industrial-scale gold mines. The scope covers full engineering, procurement, project services, project management and the supply of equipment and materials for a 2 Mtpa greenfield gold plant and associated non-process infrastructure.
Work has already commenced under a limited notice to proceed worth about A$30.1 million, with final contract execution expected once project syndicate documentation is completed in the coming weeks. The mandate deepens Lycopodium’s role in KEFI’s flagship asset, following its earlier feasibility work, and reinforces the company’s positioning as a key engineering partner in African gold development as the project targets full production by mid-2028 and plans a transition from open-pit to eventual underground mining.
The most recent analyst rating on (AU:LYL) stock is a Hold with a A$16.00 price target. To see the full list of analyst forecasts on Lycopodium Limited stock, see the AU:LYL Stock Forecast page.
More about Lycopodium Limited
Lycopodium Limited is an Australia-based engineering group that provides integrated engineering, project, construction and asset management solutions. Operating across the resources, rail infrastructure and industrial processes sectors, it delivers complex multidisciplinary projects, feasibility studies and advisory services globally from offices in Australia, the Americas, Africa and the Philippines.
YTD Price Performance: -0.80%
Average Trading Volume: 47,628
Technical Sentiment Signal: Buy
Current Market Cap: A$540.1M
Learn more about LYL stock on TipRanks’ Stock Analysis page.