Lycopodium (ASX:LYL) was granted a AU$5.4 million award for the definitive feasibility study (DFS) for a plant at the Kalgoorlie nickel project-Goongarrie Hub in Western Australia, owned by Ardea Resources (ASX:ARL), according to a Tuesday Australian bourse filing.
It was awarded the study for the design engineering of a hydrogen sulfide plant for the development of the project.
The study is expected to be completed in the second half of 2025 and drilling is ongoing on-site to define the measured mineral resource.
Its shares rose a little over 1% in early trading on Tuesday.
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