Daily Roundup

Synertec Corporation is riding strong momentum with an upgraded revenue forecast for FY27. The company now expects to bring in between $37.5 million and $40.0 million in revenue—a jump of 77% to 89% compared to FY26. The upgrade reflects solid contract conversions across government, healthcare, nuclear, and critical infrastructure sectors. Notably, the recent $45.5 million ANSTO Nuclear Medicine Manufacturing Program contract validates the quality of Synertec's pipeline, though it only marginally increased previously disclosed figures. The company is also seeing accelerating commercial momentum in its Powerhouse business, giving it greater revenue visibility heading into the new financial year.

AIC Mines is making a major play in the copper space with the acquisition of the Mt Cuthbert Copper Project for $120 million. The deal, funded through $100 million in new shares and $20 million in cash, adds 18.7 million tonnes of copper grading 1.3%—representing 246,000 tonnes of contained copper. Located just 150 kilometres northwest of AIC Mines' existing Eloise-Jericho operations, the project is expected to boost the company's total copper mineral resources by 39%. The acquisition should be accretive to existing shareholders, with the mineral resources acquired at roughly 50% less than AIC Mines' current implied valuation. The company is planning an immediate push on resource extension drilling and exploration activities, with completion expected in early November 2026. AIC Mines is also backing the expansion with a $70 million equity raising to support exploration and development.

On the regulatory front, Insurance Australia Group's proposed acquisition of RAC Insurance has hit a significant roadblock. The Australian Competition and Consumer Commission has decided to oppose the deal, concluding that combining IAG—one of Australia's largest personal insurers—with RACI, the market leader in Western Australia, would substantially lessen competition in motor vehicle insurance and home and contents insurance across the state. The ACCC found that the acquisition would significantly increase IAG's market share, potentially reducing competitive pressure in the region.

In other M&A news, Canyon Resources shareholders are now free to do as they please with their holdings. The unsolicited takeover offer from A2MP Investments FZCO has expired, making all acceptances void as of 21 September. Shareholders who had accepted the offer can now trade their shares without restriction.

Meanwhile, Global Lithium Resources has cleared a key hurdle with its Nova Operation acquisition. The ACCC has granted a waiver, making the acquisition of 100% of IGO Nova Pty Ltd unconditional. The deal is expected to complete within 10 business days, pending the earlier of IGO's final product shipment from the Port of Esperance or 30 November 2026.