ALTAIR MINERALS LIMITED
ASX:ALRMaterialsToday’s holders own 76.4% of what they think they own, once every option and right converts.
Share count grew 54% in 24 months; 3 cash raises in 24 months; options/rights overhang 31% of shares
ALTAIR MINERALS LIMITED's ordinary share count increased 54.3% between January 2025 and June 2026, its latest share-count filing, to 6.63B shares. The company raised capital three times in the past 24 months for total proceeds of A$44.4M, most recently a A$28.2M placement in April 2026. Options and rights on issue could convert into 2.05B new shares, representing a 30.9% overhang of current shares, of which 15% are in the money at the current share price; the nearest expiry is in February 2027. 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 December 2026.
Quick answers · 5
Is ALR raising capital?
Altair Minerals has 1 proposed issue of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $28.2M on 27 Apr 2026.
How much placement capacity does ALR have left?
About 10% of the 15% placement capacity left, about 90% 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 ALR have?
In its quarterly cash report for the quarter ended 30 June 2026, Altair Minerals reported $33.6M of cash and estimated 9.2 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do ALR's options expire?
Unexercised options and rights equal 30.9% of Altair Minerals's shares on issue; the nearest expiry is Feb 2027.
How much has ALR's share count grown?
Altair Minerals has 6.63B shares on issue as at 28 Oct 2026, up 54.3% over 24 months according to its Appendix 2A filings.
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 |
|---|---|---|---|---|
| 22 June 2026 | 2A · quoted issue | ALR : ORDINARY FULLY PAID | 6.63B | Appendix 2A |
| 1 May 2026 | 2A · quoted issue | ALR : ORDINARY FULLY PAID | 6.37B | Appendix 2A |
| 15 Jan 2026 | 3G · unquoted | ORDINARY FULLY PAID | 5.97B | Appendix 3G |
| 15 Dec 2025 | 3G · unquoted | ORDINARY FULLY PAID | 5.97B | Appendix 3G |
| 14 Nov 2025 | 2A · quoted issue | ALR : ORDINARY FULLY PAID | 5.97B | Appendix 2A |
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
3 cash raises in the last 24 months · 2 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 · assay results availability (results due)
- November 2026 · first assay results availability (results due)
- by end 2026 · 75,000m drilling program completion (to complete)
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-triggered979.2M · 14.8% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered1.07B · 16.1% 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: 979.2M priced (of which 979.2M in the money), 1.07B 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.
At $0.031 today, 979.2M securities are in the money (14.8% of shares on issue) — a floor, because an exercise price is on record for only 47.8% of this supply. No price up to ten times today’s switches on any more priced supply.
- 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.
- 1.07B (52.2% 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 |
|---|---|---|---|---|---|---|
| ALRAF | Options | Price-triggered | $0.003 | 19 Feb 2027 | 625.0M | Filing |
| ALRAA | Options | Price-triggered | $0.003 | 15 May 2027 | 354.2M | Filing |
| ALRAE | Rights | Condition-triggered | — | — | 125.0M | Filing Meeting |
| ALRAB | Performance rights | Condition-triggered | — | — | 944.5M | 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 |
|---|---|---|---|---|---|---|---|
| 14 Oct 2025 | Bilal Ahmad | Other placement | 37.5M | 132.6M | — | $150k | 3Y notice |
| 14 Oct 2025 | Jamie Larmont | Other placement | 6.3M | 8.3M | — | $25k | 3Y notice |
| 14 Oct 2025 | Mordechai Benedikt | Other placement | 6.3M | 41.7M | — | $25k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.