23-Dec-2025: LYL are certainly back in a solid uptrend now:

LYL reached a new 52-week high of $13.81 during this morning's trading; the only time they've been this high before was briefly in August 2024 when they went over $14. It's hardly surprising because they're a very profitable company with a rock solid balance sheet (no net debt and plenty of cash) and they have strong tailwinds. They specialise in the design, engineering and construction of gold processing plants (gold mills), and the gold price is reaching new all time highs yet again:

Source: goldprice.org 5 minutes ago.

It's a nice Christmas present. LYL is my largest real life position (13%) and it's also my largest position here on Strawman.com, and has been for a while. On top of the welcome share price uptrend I expect higher dividends from Lycopodium in calendar 2026 for the reasons I have previously outlined here.

Rather than issue new shares or take on debt, LYL's M.O. is to pay for acquisitions using their own cash, and that's what they did when the purchased 60% of SAXUM in February this year, and they reduced their dividends to replenish that cash balance. That's all done now, so I can't see why they won't return to paying out well-above-market-average dividends again now. I've always liked them because of their high quality and excellent management, and also because they provide growth plus income.

SAXUM provides Lycopodium with additional growth opportunities in the Americas as we've previously discussed, and I expect them to exercise their option to buy the remaining 40% of SAXUM when the time comes.

My wife finally got out of ICU yesterday after her open heart surgery on the 10th of this month, so she's in the cardiac ward and improving her strength and mobility every day. While she will almost certainly still be in hospital over Christmas, that's OK, the surgery was successful, she has two new mechanical heart valves and she doesn't have the lung fluid issues any more that caused breathing issues, so she is off the oxygen. We have our 30th Wedding Anniversary on New Year's Eve, so hopefully she'll be home by then, otherwise we'll celebrate that in hospital also. There's heaps to be very thankful for.

Wishing everyone in the Strawman community a very happy and peaceful Christmas and a Rockin' New Year! Stay safe, enjoy good times, family, friends, everything we are blessed with, and for those of us here in Australia, be thankful also that we live in the best country in the world!

Merry Christmas and a Happy New Year everybody!!