AUSTRAL RESOURCES AUSTRALIA LTD

ASX:AR1Materials

2.65B shares on issueASX (delayed) · snapshot 11 Sept 20262.67B fully diluted+0.5% if every option and right converts$0.082price · delayed$217.7Mmarket cap · indicative

Today’s holders own 99.5% of what they think they own, once every option and right converts.

High

Dilution risk

Share count grew 400% in 24 months; 3 cash raises in 24 months; proposed issue pending

Absolute levels — not a ranking against other companies.

Cash runwayno data — not a quarterly (4C/5B) cash filer

Share-count growth (24m)400.3%

Raise cadence (24m)3 cash raises

Options & rights overhang0.5% of shares

In-the-money supply0.1% of shares

Pending proposed issuesopen proposed issue (Appendix 3B)

AUSTRAL RESOURCES AUSTRALIA LTD's ordinary share count grew 400.3% between July 2025 and July 2026, reaching 2.65B shares. In the past 24 months, the company raised capital three times for total disclosed proceeds of A$146.0M, including a A$66.0M placement in February 2026. Options and rights on issue could convert into 12M new shares, representing 0.5% of the current share count, with the nearest expiry in October 2027; none are currently in the money. The company has not lodged a current quarterly cash report, so no cash balance or funding runway is disclosed on that basis. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in November 2026.

AI-generated summary of this page's cited filings · updated 29 Aug 2026

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0.5%

Options & rights overhang

0.1%

In-the-money supply · most strikes not on record

Raises · last 12 months

—

Cash cover · not a quarterly filer

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 2.65B per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

Not a quarterly cash filer. This company does not lodge Appendix 4C/5B quarterly cash reports, so cash runway does not apply.

Issuance timeline

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

Date	Form	Security	On issue, per this filing	Source
30 July 2026	2A · quoted issue	AR1 : ORDINARY FULLY PAID	2.65B	Appendix 2A
20 May 2026	3G · unquoted	AR1 : ORDINARY FULLY PAID	2.50B	Appendix 3G
1 Apr 2026	2A · quoted issue	AR1 : ORDINARY FULLY PAID	2.19B	Appendix 2A
1 Apr 2026	2A · quoted issue	AR1 : ORDINARY FULLY PAID	2.20B	Appendix 2A
1 Apr 2026	2A · quoted issue	AR1 : ORDINARY FULLY PAID	2.48B	Appendix 2A

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17 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 2.8 monthsaverage gap between raises

6.7 monthssince the most recent

3 Sept 2025 – 19 Feb 2026first to most recent in this window

$66.0M

Placement

19 Feb 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.

No estimate — the only Appendix 3B in the window claiming the 15% capacity states more than the whole allowance, so it cannot be counted.

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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

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.

Paid plan

1 pending issue on record — Pending issue detail

Size, price, fees, broker and placement-capacity usage for each pending issue.

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Options & convertible securities

0.5%

Options & rights overhang · of current shares

0.1%

In-the-money supply · most strikes not on record

12.5M

Potential new shares

Oct 2027

Nearest expiry

What this supply is, and what converts it

Price-triggered2.5M · 0.1% of shares
Options and warrants — they convert when the share price clears their exercise price.
Condition-triggered10.0M · 0.4% of shares
Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 2.5M priced (of which 2.5M in the money), 10.0M 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.

What a price move would switch on

At $0.082 today, 2.5M securities are in the money (0.1% of shares on issue) — a floor, because an exercise price is on record for only 19.8% 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.
10.0M (80.2% 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
AR1AF	Options	Price-triggered	$0.075	24 Oct 2027	2.5M	Filing
AR1AG	Performance rights	Condition-triggered	—	—	10.0M	Filing

“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

Date	Director	Type	Shares	Options	Other	Value	Source
30 June 2026	Daniel JAUNCEY	Other	1.6M	—	—	—	3Y notice
30 June 2026	Michael HANSEL	Other	515k	—	—	—	3Y notice
20 May 2026	David NEWLING	Other incentive	20.0M	—	10.0M	—	3Y notice