Lycopodium secures $49.4M project contract
- An engineering firm secures a $49.4 million deal for the Havieron Gold-Copper Project in Western Australia.
- Market participants digested the news following the project award announcement.
- The project will leverage existing infrastructure at the nearby Telfer facility to process mined ore.
Lycopodium (ASX:LYL) has secured a $49.4 million engineering, procurement, and construction management contract for Greatland Resources (ASX:GGP) at its Havieron Gold-Copper Project in Western Australia.
The contract follows an initial limited notice of award received by the company in early June.
"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," said Lycopodium Managing Director Peter De Leo.
Under the agreement, Lycopodium is responsible for leading preproduction project execution, including procurement, engineering, trade contractor management, and commissioning support.
Following the announcement the Lycopodium share price was unchanged at $23.04.
The Havieron underground deposit is located in the Paterson Province, roughly 45km east of Greatland's Telfer mine.
Greatland plans to use Telfer's existing infrastructure, which includes a gold processing facility comprising two 10 million tonnes per annum capacity trains.
