AIC Mines Limited (ASX:A1M) has become the subject of a Notice of Initial Substantial Holder, with the Hawke's Point Group — comprising Hawke's Point Holdings L.P. (HPH LP), Hawke's Point Critical Metals Fund L.P. (HP CMF), and associated entities — disclosing a combined relevant interest of 93,976,982 ordinary shares, representing 9.27% of voting power, as of 11 November 2026.

Key Points

  • Hawke's Point Group became a substantial holder in AIC Mines on 11 November 2026, holding 93,976,982 ordinary shares at 9.27% voting power.
  • HPH LP acquired 6,289,308 ordinary shares on 11 November 2026 for a cash consideration of $4,999,999.86.
  • HP CMF acquired 71,021,007 ordinary shares on 11 November 2026 for a cash consideration of $56,461,700.57.
  • The relevant interests were acquired pursuant to a Subscription Agreement between AIC, HPH LP, and HP CMF dated 22 September 2026, and a Binding Heads of Agreement between AIC and HPH LP dated 24 June 2025.
  • Securities are registered with Citicorp Nominees Pty Limited as the registered holder on behalf of HPH LP and HP CMF respectively.

Substantial Holder Disclosure and Voting Power

According to the filing, the Hawke's Point Group's total relevant interest of 93,976,982 ordinary shares was calculated on the basis of 1,013,321,392 ordinary shares on issue in AIC Mines Limited. HPH LP holds a relevant interest in 22,955,975 shares, while HP CMF holds a relevant interest in 71,021,007 shares. Each Hawke's Point Group Entity holds a relevant interest in the full 93,976,982 shares through its control of HPH LP and HP CMF under sections 608(3)(a) and/or 608(3)(b) of the Corporations Act 2001.

Nature of Relevant Interest and Acquisition Agreements

The filing states that the relevant interests held by HPH LP and HP CMF arose under sections 608(1)(b) and (c) of the Corporations Act 2001, through the right to control the voting or disposal of the shares. The interests were acquired pursuant to a Subscription Agreement between AIC Mines, HPH LP, and HP CMF dated 22 September 2026, and a Binding Heads of Agreement between AIC Mines and HPH LP dated 24 June 2025. The Hawke's Point Group entities are described as associates of each other by virtue of section 12(2)(a) of the Corporations Act as related bodies corporate.

Hawke's Point Group Entity Structure

The filing identifies the Hawke's Point Group as including Hawke's Point GP Limited, Hawke's Point Manager L.P., Hawke's Point Holdings I Limited, Tetragon Partners UK LLP, Tetragon Partners US LP, and Tetragon Financial Group Limited and each of its related bodies corporate. The notice was signed by Erik Caspersen in his capacity as Authorised Signatory on 12 November 2026. The group's address is listed as c/- Tetragon Partners UK LLP, 4 Sloane Terrace, London, SW1X 9DQ, United Kingdom.