BROKEN HILL MINES LIMITED
ASX:BHMMaterialsToday’s holders own 80.3% of what they think they own, once every option and right converts.
Share count grew 60% in 24 months; 2 cash raises in 24 months; options/rights overhang 25% of shares; since relisting as BHM; prior history under CBH not included
BROKEN HILL MINES LIMITED's ordinary share count rose 59.6% between August 2025 and October 2026, its latest share-count filing, to 429M shares. All figures cover only the period since the company's rename from CBH in July 2025. In the past 24 months, it raised capital twice for total disclosed proceeds of A$123.5M, most recently an A$85.0M placement in August 2026. Options and rights on issue could convert into 105M new shares, equal to 24.6% of the current share count, none of which are in the money; the nearest expiry is in May 2029. The company has more than 4 quarters of funding at the recent spend rate.
Quick answers · 3
When did BHM last raise capital?
The last capital raise in Broken Hill Mines's filings is Placement of $85.0M announced 28 Aug 2026, one of 2 cash raises in 24 months.
How much placement capacity does BHM have left?
About 5% of the 15% placement capacity left, about 95% 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.
When do BHM's options expire?
Unexercised options and rights equal 24.6% of Broken Hill Mines's shares on issue; the nearest expiry is May 2029.
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 |
|---|---|---|---|---|
| 19 Oct 2026 | 2A · quoted issue | BHM : ORDINARY FULLY PAID | 277.9M | Appendix 2A |
| 4 Sept 2026 | 2A · quoted issue | BHM : ORDINARY FULLY PAID | 245.2M | Appendix 2A |
| 4 Sept 2026 | 2A · quoted issue | BHM : ORDINARY FULLY PAID | 166.0M | Appendix 2A |
| 14 Aug 2026 | 3G · unquoted | BHM : ORDINARY FULLY PAID | 166.0M | Appendix 3G |
| 9 July 2026 | 2A · quoted issue | BHM : ORDINARY FULLY PAID | 166.0M | Appendix 2A |
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 (277.9M) need not equal the current count above (428.8M).
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
2 cash raises in the last 24 months · 1 in the last 12 months · counted since relisting as BHM (14 July 2025); prior history under CBH is not included
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 · Mineral Resource Estimate update release (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-triggered81.3M · 19.0% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 79.1M of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered24.0M · 5.6% 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: 2.3M priced (of which 2.3M in the money), 103.1M 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 $0.47 today, 2.3M securities are in the money (0.5% of shares on issue) — a floor, because an exercise price is on record for only 2.1% 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.
- 103.1M (97.9% 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 |
|---|---|---|---|---|---|---|
| BHMOA | Options | Price-triggered, no exercise price stated | — | 16 May 2029 | 6.3M | Filing |
| BHMAZ | Options | Price-triggered, no exercise price stated | — | 9 July 2030 | 1.7M | Filing |
| BHMAW | Options | Price-triggered, no exercise price stated | — | 9 July 2030 | 31.1M | Filing |
| BHMAX | Options | Price-triggered, no exercise price stated | — | 9 July 2030 | 40.0M | Filing |
| BHMAV | Options | Price-triggered | $0.36 | 9 July 2030 | 2.3M | Filing |
| BHMAY | Performance rights | Condition-triggered | — | — | 5.0M | Filing |
| BHMAAA | Performance rights | Condition-triggered | — | — | 19.0M | 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 |
|---|---|---|---|---|---|---|---|
| 22 Dec 2025 | Stephen Woodham | Buy | 272k | — | — | $218k | 3Y notice |
| 23 July 2025 | Mark Hine | Buy on-market | 86k | 200k | 500k | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.