BLACK HORSE MINING LIMITED
ASX:BHLMaterialsToday’s holders own 60.6% of what they think they own, once every option and right converts.
Not rated — listed too recently to rate
Listed too recently — there is not enough filing history to score yet. Not rated means no assessment — not low risk.
BLACK HORSE MINING LIMITED has no share-issuance (Appendix 2A) filings on record for the relevant period, so no share-count change figure can be stated. It has not raised capital through placements, rights issues or share purchase plans in the past 24 months. Options and rights on issue could convert into 42M new shares, equal to 65.0% of the current share count, none of which are in the money; the nearest expiry is November 2029. The company reported available cash as of September 2026 representing more than 4 quarters of funding at the recent spend rate. No proposed securities issues are pending.
Quick answers · 2
How much cash does BHL have?
In its quarterly cash report for the quarter ended 30 Sept 2026, Black Horse Mining reported $4.4M of cash and estimated 5.5 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do BHL's options expire?
Unexercised options and rights equal 65% of Black Horse Mining's shares on issue; the nearest expiry is Nov 2029.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 2 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 |
|---|---|---|---|---|
| 5 Aug 2026 | 3H · cancellation | BHL : ORDINARY FULLY PAID | 40.0M | Appendix 3H |
| 13 Mar 2026 | 3G · unquoted | BHL : ORDINARY FULLY PAID | 40.0M | 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 (40.0M) need not equal the current count above (64.6M).
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
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.
- by end 2026 · 4,000m drilling program (planned)
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
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 42.0M 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 |
|---|---|---|---|---|---|---|
| BHLAB | Options | Price-triggered, no exercise price stated | — | 28 Nov 2029 | 42.0M | 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
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.