ANDEAN SILVER LIMITED
ASX:ASLMaterialsToday’s holders own 93.0% of what they think they own, once every option and right converts.
Share count grew 98% in 24 months; 4 cash raises in 24 months; runway 4–8 quarters
As of September 2026, ANDEAN SILVER LIMITED's share count stands at 230M shares. The company has raised capital four times in the past 24 months, totalling A$131.0M, with the most recent event being a A$40.0M placement in August 2026. Options and rights on issue could convert into 17M new shares, representing 7.5% of the current share count, with none currently in the money. No filing on record states an expiry date for these securities. In the June 2026 quarter, the company reported A$74.1M in available cash, which would cover approximately 7.0 quarters of operations at its recent spending rate. There are no pending proposed issues.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 8 Sept 2026 | 2A · quoted issue | ASL : ORDINARY FULLY PAID | 213.2M | Appendix 2A |
| 8 Sept 2026 | 2A · quoted issue | ASL : ORDINARY FULLY PAID | 229.0M | Appendix 2A |
| 2 July 2026 | 2A · quoted issue | ASL : ORDINARY FULLY PAID | 212.7M | Appendix 2A |
| 10 Apr 2026 | 3H · cancellation | ASL : ORDINARY FULLY PAID | 212.7M | Appendix 3H |
| 6 Mar 2026 | 3G · unquoted | ASL : ORDINARY FULLY PAID | 212.7M | 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 (213.2M) need not equal the current count above (229.5M).
Capital raises
4 cash raises in the last 24 months · 2 in the last 12 months
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 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 17.3M of it converts on something else — a hurdle that may never be met, or terms the filing does not price.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| ASLAG | — | Condition-triggered | — | — | 950k | Filing Meeting |
| ASLAF | Performance rights | Condition-triggered | — | — | 16.3M | 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.
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 |
|---|---|---|---|---|---|---|---|
| 6 Jan 2026 | David Southam | Buy entitlement/SPP | 16k | — | 2.5M | — | 3Y notice |
| 6 Jan 2026 | Raymond Shorrocks | Buy entitlement/SPP | 16k | — | 1.5M | — | 3Y notice |
| 19 Dec 2025 | David Southam | Sell off-market | — | — | 500k | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.