The Lycopodium Ltd (ASX: LYL) share price is in focus after the company announced it has won a significant A$93 million EPCM contract for Artemis Gold's Expanded Phase 2 Project at the Blackwater Mine in Canada. The new contract will see Lycopodium ramp up its role as a key delivery partner in one of Canada's largest gold mines.
Image source: Getty Images
What did Lycopodium report?
- Awarded a A$93 million Engineering, Procurement and Construction Management (EPCM) contract for Blackwater Expanded Phase 2 (EP2) Project
- EP2 will add 13 Mtpa of throughput, raising the mine's total capacity to 21 Mtpa
- Lycopodium continues its lead role, after delivering Phase 1A and FEED services for EP2
- Early works for EP2 already underway, with major construction recently commenced
What else do investors need to know?
Lycopodium has already played a major part in the Blackwater Mine's development, preparing the feasibility study and providing front end engineering for the new facility. Securing this latest EPCM contract builds on its established relationship with Artemis Gold and broadens the company's international footprint, especially in the North American mining sector.
The Blackwater Mine is located in central British Columbia and is targeting a production capacity that would make it one of Canada's three largest gold mines. Lycopodium's Canadian-based business will play a central role in delivering Phase 2, helping strengthen the company's global presence.
What did Lycopodium management say?
Lycopodium's Managing Director and CEO, Peter De Leo, said:
We are very pleased to be given this opportunity to continue to work with Artemis Gold in the further development of the Blackwater Mine. Blackwater is a world-class facility in a tier-one mining jurisdiction, and our involvement in the mine's expansion is particularly meaningful, given it represents a material domestic project to be delivered by our Canadian-based business.
What's next for Lycopodium?
Looking ahead, Lycopodium will oversee the engineering, procurement and construction management for Blackwater's expanded processing plant. With early works on EP2 already progressing and the main construction phase underway, the project is on track to deliver a major increase in gold production capacity for Artemis Gold.
This international contract strengthens Lycopodium's project pipeline and supports its strategy of expanding in global mining markets. The company also continues to provide integrated engineering services across several industries, with ongoing projects in Australia and worldwide.
Lycopodium share price snapshot
Over the past 12 months, Lycopodium shares have risen 66%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 4% over the same period.
