Companies / AA2

ARIANA RESOURCES PLC

ASX:AA2Materials
307.7M shares on issueASX (delayed) · snapshot 11 Sept 2026352.7M fully diluted+14.6% if every option and right converts$0.25price · delayed$76.9Mmarket cap · indicative

Today’s holders own 87.2% of what they think they own, once every option and right converts.

Low
Dilution riskprovisional — limited history

1 cash raise in 24 months; options/rights overhang 15% of shares; proposed issue pending

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway12.1 quarters of funding
Share-count growth (24m)-4.9%measured to the latest Appendix 2A, not to the share count above
Raise cadence (24m)1 cash raiseexcludes announced events with no matching share-issuance (Appendix 2A) filing
Options & rights overhang14.6% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesopen proposed issue (Appendix 3B)

ARIANA RESOURCES PLC's ordinary share count stood at 308M as of August 2026. The company raised capital once in the past 24 months, a A$8.0M placement in December 2025. Options and rights on issue could convert into 45M new shares, representing 14.6% of the current share count, with the nearest expiry in December 2027; none are currently in the money. As of the June 2026 quarter, the company reported A$31.1M in available cash, providing approximately 12.1 quarters of funding coverage. No proposed securities issues are currently pending. The share count movement over the window is not stated as the filed Appendix 2A series ends prior to the stated window.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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14.6%
Options & rights overhang
In-the-money supply · most strikes not on record
1
Raises · last 12 months
12.1 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 307.7M per ASX (delayed) (snapshot 11 Sept 2026).
270M280M290M300M310MSept 25Mar 26Sept 26Cash raise · 8 Dec 2025307.7M

Cash runway

12.1 qtrs
More than four quarters of funding at the recent spend rate.
More than three years of funding at the reported spend rate — far enough out that a dated estimate would be false precision.
$31.1M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $33.2M cash at quarter end (item 4.6), 13.4 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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4 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
22 May 20262A · quoted issueAA2 : CHESS DEPOSITARY INTERESTS 1:1049.6MAppendix 2A
22 May 20263G · unquotedCHESS DEPOSITARY INTERESTS 1:1046.1MAppendix 3G
29 Apr 20263G · unquotedAA2 : CHESS DEPOSITARY INTERESTS 1:1046.4MAppendix 3G
29 Apr 20263G · unquotedAA2 : CHESS DEPOSITARY INTERESTS 1:1046.4MAppendix 3G
5 Feb 20263G · unquotedCHESS DEPOSITARY INTERESTS52.5MAppendix 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 (49.6M) need not equal the current count above (307.7M).

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7 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

1 cash raise in the last 24 months · 1 in the last 12 months

$8.0M
Placement
8 Dec 2025
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3 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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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.

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3 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No estimateno share count old enough to measure 15% of.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

14.6%
Options & rights overhang · of current shares
In-the-money supply · most strikes not on record
45.0M
Potential new shares
Dec 2027
Nearest expiry
What a price move would switch on
22.5M45.0M$0.25 now0.25× today ($0.06) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.13) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.19) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.25) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.31) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.38) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.50) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.75) — 15.6M of the priced supply in the money, 5.1% of shares on issue5× today ($1.25) — 15.6M of the priced supply in the money, 5.1% of shares on issue10× today ($2.50) — 15.6M of the priced supply in the money, 5.1% of shares on issue0.25×0.5×0.75×now1.25×1.5×10×

An exercise price is on record for only 34.6% 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 $0.25 today. No more priced supply until today’s price, which takes it to 15.6M (5.1% 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.
  • 29.4M (65.4% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
AA2AGOptionsPrice-triggered$0.5031 Dec 202715.6MFiling
AA2AEOptionsPrice-triggered31 Mar 202925.0MFiling
AA2AFOptionsPrice-triggered26 Aug 20294.4MFiling

“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.

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3 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

No director dealing notices (Appendix 3Y) on record.
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Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.