AUSTRALASIAN METALS LIMITED
ASX:A8GMaterialsToday’s holders own 91.3% of what they think they own, once every option and right converts.
2 cash raises in 24 months; share count grew 14% in 24 months; options/rights overhang 10% of shares
AUSTRALASIAN METALS LIMITED's ordinary share count grew 14.1% between January 2025 and October 2026, its latest share-count filing, to 68M shares. The company completed 2 capital raises in the 24-month window for total proceeds of A$1.8M, most recently a A$1.0M Placement in September 2026. Options and rights on issue could convert into 6M new shares, equal to 9.6% of the current share count; none are in the money, and the nearest expiry is December 2026. The company has more than 4 quarters of funding at the recent spend rate. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in November 2026.
Quick answers · 4
Is A8G raising capital?
Australasian Metals has 1 proposed issue of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $1.0M on 7 Sept 2026.
How much placement capacity does A8G have left?
About 7% of the 15% placement capacity left, about 93% used in 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does A8G have?
In its quarterly cash report for the quarter ended 30 Sept 2026, Australasian Metals reported $3.0M of cash and estimated 11.6 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do A8G's options expire?
Unexercised options and rights equal 9.6% of Australasian Metals's shares on issue; the nearest expiry is Dec 2026.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 5 Oct 2026 | 2A · quoted issue | A8G : ORDINARY FULLY PAID | 66.1M | Appendix 2A |
| 2 Oct 2026 | 2A · quoted issue | A8G : ORDINARY FULLY PAID | 67.7M | Appendix 2A |
| 15 Sept 2026 | 2A · quoted issue | A8G : ORDINARY FULLY PAID | 66.0M | Appendix 2A |
| 9 Jan 2025 | 2A · quoted issue | A8G : ORDINARY FULLY PAID | 57.9M | Appendix 2A |
| 29 Nov 2024 | 3G · unquoted | A8G : ORDINARY FULLY PAID | 52.1M | Appendix 3G |
Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (66.1M) need not equal the current count above (67.8M).
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
2 cash raises in the last 24 months · 1 in the last 12 months
Results due
What the company's own reports say is coming, and when. A month is one the report names; “by end of year” is a deadline such as “Q4”. See every explorer on the results calendar.
- November 2026 · Auger drilling program commencement (to start)
Forward supply
Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
- Price-triggered3.0M · 4.4% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered3.5M · 5.2% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 3.0M priced, 3.5M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.
Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.
An exercise price is on record for only 46.2% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.17 today. No more priced supply until 1.5× today’s price, which takes it to 3.0M (4.4% of shares).
- Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
- 3.5M (53.8% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| A8GAH | Options | Price-triggered | $0.25 | 4 Dec 2026 | 3.0M | Filing |
| A8GAI | Performance rights | Condition-triggered | — | — | 3.5M | Filing Meeting |
“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column. For what expires soon across other listed companies, see the options expiry calendar.
A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 2 Oct 2026 | Dr Qingtao Zeng | Buy incentive | 1.0M | — | 2.0M | — | 3Y notice |
| 2 Oct 2026 | Dr Qingtao Zeng | Other incentive | 1.0M | 2.0M | 2.0M | — | 3Y notice |
| 2 Oct 2026 | Mr Rory McGoldrick | Buy incentive | 250k | 500k | 250k | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.