The Lycopodium Ltd (ASX: LYC) share price is in focus after the company announced it has won a detailed engineering services contract worth approximately $22 million for Pilgangoora Operations' plant expansion project. The contract begins immediately and builds on Lycopodium's earlier front‑end engineering design work for the project.
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What did Lycopodium report?
- Secured a detailed engineering services contract valued at ~$22 million with Pilgangoora Operations (PLS Group)
- Work commences immediately, supporting the Pilgangoora P2000 Expansion Project
- The new contract follows successful delivery of front-end engineering design (FEED) for the Wet Plant
- Pilgangoora P2000 project aims to expand lithium spodumene concentrate capacity to 2 million tonnes per annum
- Lycopodium continues its long-term partnership supporting PLS's flagship Western Australian project
What else do investors need to know?
The Pilgangoora Operation is one of the world's largest hard rock lithium hubs, operated by PLS Group subsidiary. If the P2000 expansion receives board approval, Lycopodium will design a new processing plant and crushing circuit to support increased production.
This contract strengthens Lycopodium's reputation for delivering complex projects and continues its multi-year collaboration with PLS, including work on previous expansions and the Mid-Stream Demonstration Plant Project.
What did Lycopodium management say?
Lycopodium Managing Director and CEO Peter De Leo said:
Lycopodium has been working with PLS in the ongoing development of its flagship Pilgangoora Operation for a number of years now, including through various stages of expansion and the Mid-Stream Demonstration Plant Project, and we are extremely pleased to continue our involvement with this world-class operation that provides vital input into the global energy transition.
What's next for Lycopodium?
Lycopodium is set to begin immediate work on the detailed engineering contract, while awaiting the final investment decision from PLS's board for the P2000 expansion. The project's future progress depends on that final approval.
More broadly, Lycopodium continues to position itself as a trusted partner for large-scale resources infrastructure projects, leveraging its expertise in engineering and project delivery across the global mining sector.
Lycopodium share price snapshot
Over the past 12 months, Lycopodium shares have risen 55%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 3% over the same period.
