Lycopodium wins $68m contract

Local engineering company Lycopodium has won a $68.5 million contract to build processing facilities at a gold mine in Senegal.

Peter De Leo-led Lycopodium will build a processing plant and other facilities at UK-based Toro Gold’s flagship Mako project.

“This award sees the continuation of our association with Toro, following the successful completion of the pre-feasibility and definitive feasibility studies for the project,” Lycopodium said in a brief statement.

“Lycopodium is grateful for the confidence shown by Toro in awarding the delivery of their first project and extends our thanks for this opportunity.”

Shares in Lycopodium were 4.5 per cent higher to $2.30 each at 1:30pm.