Australian engineering firm Lycopodium (ASX:LYL) has posted an upbeat operational update for Q4 FY2023, with a strong pipeline of studies and projects in mining and industrial processes boosting its financial performance.

The firm now forecasts full-year revenues of $320M and a net profit after tax of $45M.

Among the mining projects Lycopodium is involved in are several lithium schemes for Liontown Resources, Talison Lithium and Leo Lithium, as well as gold initiatives for West African Resources, Endeavour Mining, Newmont and Fortuna Silver Mines.

Its share price is up 3% at 10:43am AEST.