Highlights

• A copper miner agreed a AU$120 million acquisition of a project holding 246,000 tonnes of contained copper, backed by a AU$70 million placement.
• A retirement village operator bought back more of its own shares under an on-market programme.
• A global bank became a substantial holder in a lithium company that recently joined the S&P/ASX 300.

Three ASX-listed stocks drew strong buying interest after announcements covering an acquisition, a share buyback and a change in major shareholding. All three closed higher, led by a double-digit gain from a copper miner expanding its footprint in north-west Queensland.

Stocks in Focus

• AIC Mines Limited (ASX: A1M) shares were trading at AU$0.920, up 15.72% on the day.
• Oceania Healthcare Limited (ASX: OCA) shares were trading at AU$0.595, up 13.33% on the day.
• Core Lithium Ltd (ASX: CXO) shares were trading at AU$0.420, up 12.00% on the day.

Copper Miner Secures Second Flagship Project

On 23 September 2026, AIC Mines announced binding agreements to buy Materra Metals, owner of the Mt Cuthbert Copper Project, for AU$120 million. The price is made up of AU$100 million in new shares, about 125.8 million shares at AU$0.795 each, plus AU$20 million in cash. Mt Cuthbert lies about 150 km north-west of AIC's Eloise mine. It holds Mineral Resources of 18.7Mt at 1.3% copper for 246,000 tonnes across five deposits, with about 73% in sulphide material. The project covers roughly 2,400 km² and includes an 8,000-tonne-a-year copper cathode plant that is currently on care and maintenance. About 60% of the resource is classified as Inferred, which carries lower geological confidence. AIC says it is paying about AU$488 per tonne of contained copper, roughly half its own implied valuation of about AU$1,028 per tonne. Major shareholder Hawke's Point will fund the cash component through a AU$70 million placement of about 88.1 million shares at AU$0.795. The placement will also pay for a two-year programme of around 60,000 metres of resource drilling. Shareholders will vote on the deal on 4 November 2026, with completion expected in early November.

Buyback Continues at Retirement Village Operator

Oceania Healthcare released a notice on 6 August 2026 confirming it bought back 120,740 ordinary shares on 5 August at an average price of NZ$0.7925. The purchases were made under the on-market buyback it announced on 31 July 2026. The shares will be cancelled, leaving 724,231,030 shares on issue.

Citigroup Emerges as Substantial Holder

A notice dated 23 September 2026 showed that Citigroup Global Markets Australia and its related entities became a substantial holder in Core Lithium on 21 September. The group holds about 179.2 million shares, a 5.54% voting interest, largely through securities lending arrangements. Core Lithium also joined the S&P/ASX 300 Index on the same day.

Outlook

AIC Mines' acquisition marks a major step towards its goal of becoming a multi-mine copper producer, although the shareholder vote and drilling results will be important. Oceania's buyback reflects continued capital management, while Citigroup's new position and index inclusion have increased market attention on Core Lithium.

Note- All data presented is based on information available at the time of writing.

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