Lycopodium has won an approximately A$42.9 million engineering and procurement contract for Endeavour Mining’s Assafo-Dibibango gold project in Côte d’Ivoire. Work has begun, but continued execution and full implementation remain conditional on Endeavour approving its final investment decision, expected before the end of 2026.
- Approximately A$42.9 million engineering and procurement contract
- 5.0 Mtpa carbon-in-leach processing plant and associated infrastructure
- Early engineering, design and long-lead procurement already underway
- Full project implementation subject to Endeavour Mining FID
- Assafo project located in eastern Côte d’Ivoire
A$42.9 Million Engineering Contract Awarded
Lycopodium Limited (ASX:LYL) has secured an approximately A$42.9 million Engineering and Procurement contract for Endeavour Mining’s Assafo-Dibibango Gold Project in Côte d’Ivoire, adding another sizeable African development to the Perth-based engineering group’s order flow.
The scope covers engineering and procurement for a 5.0 million-tonne-per-annum carbon-in-leach processing plant, along with associated non-process infrastructure. Lycopodium says EP activities have already commenced, including engineering, design and procurement of long-lead items.
Project Progress Still Hinges on Final Investment Decision
The contract award is not yet a clean run into full project delivery. Endeavour’s board still needs to make a final investment decision, which Lycopodium expects before the end of 2026. Continued execution of the contract and advancement to full implementation remain contingent on that approval.
No contract duration, margin or expected revenue-recognition schedule was disclosed, leaving the immediate financial contribution difficult to assess beyond the headline value. The announcement therefore offers a clear order-book opportunity, but not a complete picture of timing or profitability.
Repeat Endeavour Relationship Supports Delivery Role
Lycopodium has worked with Endeavour for more than 12 years and delivered over five major capital projects for the mining company. That relationship includes the pre-feasibility and definitive feasibility studies for Assafou, giving Lycopodium an established role as the project moves into engineering and procurement.
The Assafou deposit sits on the Tanda-Iguela property in eastern Côte d’Ivoire, about 280 kilometres northeast of Abidjan and near the Ghanaian border. Endeavour describes the discovery as having the potential to become a cornerstone asset, while Lycopodium Managing Director and CEO Peter De Leo said the project was set to become a “cornerstone asset” for Endeavour.
Bottom Line?
The contract strengthens Lycopodium’s African project pipeline, but the next material test is Endeavour’s expected FID before year-end and the pace of work that follows it.
Questions in the middle?
- Will Endeavour approve the Assafou project before the end of 2026?
- How much of the A$42.9 million contract can Lycopodium execute before FID?
- When will Lycopodium disclose the contract’s duration, margins or earnings contribution?