AMERICAN TUNGSTEN & ANTIMONY LTD
ASX:AT4MaterialsSuspended from quotationToday’s holders own 81.0% of what they think they own, once every option and right converts.
Not rated — the company is suspended from quotation
This company is suspended from ASX quotation. Scoring is paused until it resumes trading. Not rated means no assessment — not low risk.
AMERICAN TUNGSTEN & ANTIMONY LTD's ordinary share count increased 45.4% between December 2025 and September 2026, its latest share-count filing, to 1.85B shares. In the past 24 months, the company raised capital five times for total proceeds of A$20.9M, most recently in July 2026 via a share issue for acquisition consideration of A$3.0M. Options and rights on issue could convert into 435M new shares, equal to a 23.5% overhang; none are currently in the money. The nearest option expiry is September 2027. The company has under 2 quarters of funding at the recent spend rate. No proposed securities issues are pending.
Quick answers · 4
Why was AT4 in a trading halt?
American Tungsten & Antimony requested a trading halt on 26 Oct 2026, giving the reason "Pending announcement regarding completion of acquisition of Nexus Metals Pty Ltd and associated acquisition of Del Sol Refinery and White Spar Antimony Mine interests". Trading was expected to resume 28 Oct 2026.
When did AT4 last raise capital?
The last capital raise in American Tungsten & Antimony's filings is Share issue (consideration for acquisition) of $3.0M announced 28 July 2026, one of 4 cash raises in 24 months.
How much cash does AT4 have?
In its quarterly cash report for the quarter ended 30 June 2026, American Tungsten & Antimony reported $19.5M of cash and estimated 3.1 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do AT4's options expire?
Unexercised options and rights equal 23.5% of American Tungsten & Antimony's shares on issue; the nearest expiry is Sept 2027.
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 |
|---|---|---|---|---|
| 25 Sept 2026 | 2A · quoted issue | AT4 : ORDINARY FULLY PAID | 1.85B | Appendix 2A |
| 10 Aug 2026 | 2A · quoted issue | AT4 : ORDINARY FULLY PAID | 1.82B | Appendix 2A |
| 7 Aug 2026 | 2A · quoted issue | AT4 : ORDINARY FULLY PAID | 1.82B | Appendix 2A |
| 9 July 2026 | 2A · quoted issue | AT4 : ORDINARY FULLY PAID | 1.82B | Appendix 2A |
| 7 July 2026 | 3H · cancellation | AT4 : ORDINARY FULLY PAID | 1.81B | Appendix 3H |
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
4 cash raises in the last 24 months · 3 in the last 12 months · counted since relisting as AT4 (15 Dec 2025); prior history under TMG is not included
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-triggered335.4M · 18.1% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 315.7M of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered100.0M · 5.4% 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: 19.7M priced, 415.7M 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.
An exercise price is on record for only 4.5% 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 $0.043 today. At double today’s price it is 7.0M (0.4% 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.
- 415.7M (95.5% 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 |
|---|---|---|---|---|---|---|
| AT4AM | Options | Price-triggered | $0.070 | 25 Sept 2027 | 5.0M | Filing |
| AT4AH | Options | Price-triggered | $0.066 | 1 Dec 2027 | 1.9M | Filing |
| AT4AN | Options | Price-triggered | $0.11 | 16 Oct 2028 | 4.4M | Filing |
| AT4OE | Options | Price-triggered, no exercise price stated | — | 17 Oct 2028 | 315.7M | Filing |
| AT4AA | Options | Price-triggered | $0.20 | 24 Dec 2028 | 8.3M | Filing |
| AT4AK | Performance rights | Condition-triggered | — | — | 100.0M | 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. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 18 Sept 2026 | Andre Booyzen | Other incentive | 10.0M | — | 55.0M | — | 3Y notice |
| 18 Sept 2026 | Nicholas Katris | Other incentive | 10.0M | — | 35.0M | — | 3Y notice |
| 18 Sept 2026 | Timothy Morrison | Other incentive | 10.0M | — | 35.0M | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.