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Lycopodium Limited (ASX:LYL)

ALERT: Price-sensitive ASX Announcement for LYL
Current share price for LYL : $22.310 8.62 (62.97%)+
Announcement
Release
9 Mar 2026 8:20AM
Price at Release
$13.690
Full Release
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Summary
Lycopodium Limited, a company known for its expertise in engineering, project, construction, and asset management, has been awarded a significant contract to develop KEFI Gold and Copper's Tulu Kapi Gold Project in Ethiopia. With an approximate value of A$118 million, the contract covers engineering, supply, and labor hire (ESLH) for the project, which is situated in the Oromia Region. Lycopodium's involvement began with the original feasibility study and a subsequent update in 2024. The project will feature a 2 Mtpa greenfield gold plant, with full gold production anticipated by mid-2028. The operation will initially use open-pit mining methods, with plans to introduce underground production. Managing Director and CEO Peter De Leo emphasized the project's significance for Ethiopia's industrial growth.
Key Points
  • Lycopodium awarded ESLH contract for Tulu Kapi Gold Project in Ethiopia.
  • The contract is valued at approximately A$118 million.
  • Project is located in the Oromia Region, 360 km west of Addis Ababa.
  • Lycopodium previously delivered the original feasibility study and a 2024 update.
  • The project includes a 2 Mtpa greenfield gold plant.
  • Full gold production expected by mid-2028.
  • Open-pit mining methods initially, with future underground production.
  • Project seen as pivotal for Ethiopia's industrial growth.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.