Mining and engineering services firm Lycopodium (ASX:LYL) has generated revenue of $159.9 million and net profit after tax (NPAT) of $20 million for the 6 months to 31 December 2022.
Perth-headquartered Lycopodium reports that with a robust portfolio of projects and studies in delivery, the company is well placed to return a strong financial result for FY2023, with full-year guidance of about $320 million in revenue and NPAT in the order of $40 million.
The firm’s Managing Director Peter De Leo says the company is in the process of delivering a significant portfolio of projects across the globe, including mobilising to site on several major projects over the past 6 months, in addition to being awarded a number of new projects and studies.
“It has therefore been a very busy and rewarding period for the company, reflected in the strong results achieved at half-year”
“It has therefore been a very busy and rewarding period for the company, reflected in the strong results achieved at half-year.”
Projects at or nearing completion include the Bomboré Gold Project (Orezone) in Burkina Faso, which achieved first gold pour in September 2022; the Navachab Plant Expansion (QKR) in Namibia, which was completed in December 2022; the Motheo Copper Project (Sandfire) in Botswana and Cobré Ball Mill 6 Project (Minera Panama SA) in Panama, which are due for completion during Q1 2023; and the Séguéla Gold Project (Fortuna Silver Mines) in Côte d’Ivoire, with works on track for first gold pour mid-2023.
De Leo adds: “Pleasingly, we have already moved on to the next stage of development on a couple of these projects, including the Bomboré Expansion Study and the commencement of detailed engineering design works for the 5.2Mtpa Motheo Expansion Project.”
Works are continuing to schedule on a number of ongoing projects, including the Mine Services Area Relocation Project and Chemical Grade Processing Plant #3 (Talison Lithium) in Western Australia, the Batu Hijau Expansion Project (PT Amman Mineral Nusa Tenggara) in Indonesia, and the commencement of onsite works at the Ahafo North Project in Ghana (Newmont).
New awards involving the provision of Engineering, Procurement, Construction and Project Management services during the period, include the Kiaka Gold Project (West African Resources) in Burkina Faso, the Kathleen Valley Lithium Project (Liontown Resources) in Western Australia, the Goulamina Lithium Project (Leo Lithium) in Mali, the Sabodala Massawa Expansion Project (Endeavour Mining – Sabodala Gold Operations SA) in Senegal and the Lafigué Gold Project (Endeavour Mining – Lafigué Project) in Côte d’Ivoire.
Lycopodium works with clients to provide integrated engineering, construction, and asset management solutions. It delivers complex, multidisciplinary projects, through to the provision of feasibility studies and advisory services. Operating across the resources, infrastructure and industrial processes sectors, Lycopodium offers a diverse team of industry experts to deliver bespoke and innovative solutions across all commodity types.
With the capability to deliver projects around the world, the firm has offices in Australia, South Africa, Canada, Ghana, and the Philippines.
Write to Adam Orlando at Mining.com.au
Images: Lycopodium Ltd
