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- Engaged as delivery partner for WA gold-copper project
- Responsible for leading project execution of the preproduction phase
- Contract valued at $49.4 million
- Latest award builds on recent success
Lycopodium (ASX: LYL) has been awarded the engineering, procurement and construction management (EPCM) contract for delivery of Greatland Resources’ (ASX:GGP) Havieron project in Western Australia.
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The contract is valued at $49.4 million, with Lycopodium engaged as project delivery partner responsible for leading the project execution of the preproduction phase, with the scope encompassing project management, engineering and procurement services, coordination and management of trade contractors and suppliers, project controls, and construction and commissioning management as required to support delivery of the project.
Havieron is a high-grade underground gold-copper deposit located in the Paterson Province in the East Pilbara region of WA, approximately 45 km east of Greatland’s Telfer gold-copper mine.
Greatland will leverage Telfer’s existing processing facility and related infrastructure to process the ore mined from Havieron. The Telfer mine is one of the largest gold processing facilities in Australia, comprising two 10 million tonnes per annum (Mtpa) capacity trains.
Delivery of the project has commenced, following receipt of a Limited Notice of Award in early June 2026.
“Havieron is a world-class, high-grade gold project and we are very pleased to have this opportunity to support Greatland in the development of its Telfer Hub strategy, leveraging the existing processing facilities available at Telfer to mine ore from Havieron,” MD and CEO, Peter De Leo, said.
The award continues a period of success for integrated engineering, project, construction and asset management specialist Lycopodium which recently released robust financial results for the full year ended 30 June 2026.
During FY26, Lycopodium generated revenue of $377.5 million, with the ongoing delivery of a significant portfolio of projects across the globe and the commencement of new work won during the period. Net profit after tax (NPAT) was $40.2 million, reflecting NPAT margin of 10.6%. Both revenue and NPAT achieved in FY26 are within the guidance range provided in February 20261.
As a result, the Board declared a fully franked final dividend of 37 cents per share, bringing the full-year dividend to 59 cents per share.
To support its global operations, the company has evolved its operating model over the past year, adopting a regional approach spanning three core hubs – APAC based in Perth, the Americas based in Toronto, and Africa based in Cape Town – supplemented with offices across these regions.
This strategy has enhanced the company’s ability to engage with clients and access new market opportunities. Importantly, it leverages local expertise and supports structured growth across key markets where significant opportunities are identified, for example, the Americas.
LYL was steady at $22.90 with a Mkt cap of $886.8M prior to markets opening.
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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
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