Companies / ALM

ALMA METALS LIMITED

ASX:ALMEnergy
2.63B shares on issueASX (delayed) · snapshot 11 Sept 20262.69B fully diluted+2.2% if every option and right converts$0.011price · delayed$30.3Mmarket cap · indicative

Today’s holders own 97.9% of what they think they own, once every option and right converts.

High
Dilution risk

Runway under 2 quarters; share count grew 82% in 24 months; 3 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway0.7 quarters of funding
Share-count growth (24m)81.8%
Raise cadence (24m)3 cash raises
Options & rights overhang2.2% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

ALMA METALS LIMITED's ordinary share count grew 81.8% between August 2024 and June 2026, to 2.63B shares. The company raised capital four times in the past 24 months for total disclosed proceeds of A$7.9M, most recently a A$4.0M placement in May 2026. Options and rights on issue could convert into 57M new shares, equal to 2.2% of the current share count; the nearest expiry falls in October 2027. At the June 2026 quarter the company reported A$1.7M in available cash, about 0.8 quarters of funding at its recent spending rate. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 10 Sept 2026
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2.2%
Options & rights overhang
0.0%
In-the-money supply
2
Raises · last 12 months
0.7 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 2.63B per ASX (delayed) (snapshot 11 Sept 2026).
1.5B2.0B2.5BDec 24Oct 25Sept 26Cash raise · 1 May 2026Cash raise · 26 Nov 2025Cash raise · 23 May 20252.63B

Cash runway

0.7 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about Aug 2026 — that date has passed, and no later report is on record.
$1.7M 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: $3.6M cash at quarter end (item 4.6), 2.1 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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11 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
29 June 20262A · quoted issueALM : CHESS DEPOSITARY INTERESTS 1:12.63BAppendix 2A
14 May 20262A · quoted issueALM : CHESS DEPOSITARY INTERESTS 1:12.60BAppendix 2A
30 Mar 20263G · unquotedALM : CHESS DEPOSITARY INTERESTS 1:12.23BAppendix 3G
24 Dec 20252A · quoted issueALM : CHESS DEPOSITARY INTERESTS 1:11.87BAppendix 2A
24 Dec 20252A · quoted issueCHESS DEPOSITARY INTERESTS 1:11.91BAppendix 2A
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25 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

3 cash raises in the last 24 months · 2 in the last 12 months

every 5.6 monthsaverage gap between raises
4.4 monthssince the most recent
23 May 2025 – 1 May 2026first to most recent in this window
$4.0M
Placement
1 May 2026 COMPLETE
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5 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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2 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.

About 7% of the 15% placement capacity left — about 93% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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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

2.2%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
57.0M
Potential new shares
Oct 2027
Nearest expiry
What a price move would switch on
28.5M57.0M$0.011 now0.25× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.009) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.011) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.014) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.017) — 57.0M of the priced supply in the money, 2.2% of shares on issue2× today ($0.023) — 57.0M of the priced supply in the money, 2.2% of shares on issue3× today ($0.035) — 57.0M of the priced supply in the money, 2.2% of shares on issue5× today ($0.057) — 57.0M of the priced supply in the money, 2.2% of shares on issue10× today ($0.115) — 57.0M of the priced supply in the money, 2.2% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.011 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.5× today’s price, which takes it to 57.0M (2.2% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
ALMAAOptionsPrice-triggered$0.01531 Oct 202740.0MFiling
ALMABOptionsPrice-triggered$0.01731 Dec 202817.0MFiling

“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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2 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

DateDirectorTypeSharesOptionsOtherValueSource
29 June 2026Alasdair Campbell CookeBuy placement22.5M10.0M—$225k3Y notice
29 June 2026Charles Frazer TabeartBuy placement1.8M20.0M—$18k3Y notice
29 June 2026John Mark DeanBuy placement2.5M——$25k3Y notice
29 June 2026Valentine ChitaluBuy placement5.0M2.0M—$50k3Y notice
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20 notices on record — 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

3 Aug 2026$PFirst Assays from 2026 Infill Drilling at Briggs
26 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
1 July 2026$PAlma Acquires Camp to Accelerate Drilling at Briggs
29 June 2026Change of Director's Interest Notice - Placement
29 June 2026Completion of Placement and Cleansing Notice
29 June 2026Application for quotation of securities - ALM
22 June 2026Results of Meeting
25 May 2026Notice of General Meeting/Proxy Form
14 May 2026Completion of Placement and Cleansing Notice
14 May 2026Application for quotation of securities - ALM
13 May 2026Change of Director's Interest Notice - Chitalu
5 May 2026Proposed issue of securities - ALM
5 May 2026$PAlma Raises $4 Million to Accelerate Briggs Copper Project
3 May 2026$PTrading Halt
29 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
28 Apr 2026$PMajor Drilling Program Underway at Briggs Copper Project
2 Apr 2026Corporate Investor Presentation
30 Mar 2026Notification regarding unquoted securities - ALM
17 Mar 2026Change of Director's Interest Notice - Chitalu
16 Mar 2026Half Year Accounts

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