BALLARD MINING LIMITED
ASX:BM1MaterialsToday’s holders own 93.8% of what they think they own, once every option and right converts.
Runway 2–4 quarters; share count grew 34% in 24 months; 2 cash raises in 24 months
BALLARD MINING LIMITED's ordinary share count grew 62.0% between October 2025 and February 2026, reaching 455M shares. The company undertook two capital raises in the past 24 months, totalling A$81.8M, with the most recent being a A$61.0M placement in January 2026. Options on issue represent a potential 30M new shares, or 6.6% of the current share count, with the nearest expiry in July 2028; none are currently in the money. As of June 2026, the company held A$50.5M in cash, sufficient to cover approximately 3.6 quarters of operations based on its recent spending. No proposed securities issues are pending.
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 |
|---|---|---|---|---|
| 9 Sept 2026 | 3G · unquoted | BM1 : ORDINARY FULLY PAID | 298.3M | Appendix 3G |
| 4 Sept 2026 | 3G · unquoted | BM1 : ORDINARY FULLY PAID | 298.3M | Appendix 3G |
| 31 July 2026 | 3G · unquoted | BM1 : ORDINARY FULLY PAID | 298.3M | Appendix 3G |
| 7 July 2026 | 3H · cancellation | BM1 : ORDINARY FULLY PAID | 298.3M | Appendix 3H |
| 3 July 2026 | 3H · cancellation | BM1 : ORDINARY FULLY PAID | 298.3M | Appendix 3H |
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 (298.3M) need not equal the current count above (454.6M).
Capital raises
2 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
- Price-triggered13.5M · 3.0% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 7.0M of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered16.4M · 3.6% 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: 6.5M priced, 23.4M 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 21.7% 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 $0.76 today. No more priced supply until 1.25× today’s price, which takes it to 750k (0.2% 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.
- 23.4M (78.3% 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 |
|---|---|---|---|---|---|---|
| BM1AB | Options | Price-triggered | — | 9 July 2028 | 2.5M | Filing |
| BM1AC | Options | Price-triggered | — | 14 July 2028 | 1.0M | Filing |
| BM1AD | Options | Price-triggered | — | 14 July 2028 | 1.0M | Filing |
| BM1AE | Options | Price-triggered | — | 9 July 2029 | 2.5M | Filing |
| BM1AI | Options | Price-triggered | $0.84 | 9 Dec 2029 | 750k | Filing |
| BM1AG | Rights | Condition-triggered | — | 9 July 2030 | 1.5M | Filing |
| BM1AF | Performance rights | Condition-triggered | — | 9 July 2030 | 9.0M | Filing |
| BM1AJ | Options | Price-triggered | $1.10 | 4 Sept 2031 | 4.5M | Filing |
| — | Options | Price-triggered | $1.10 | 9 Sept 2031 | 1.3M | Filing |
| BM1AH | Performance rights | Condition-triggered | — | — | 5.9M | 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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 4 Sept 2026 | James Lindsay Croser | Other | 1.8M | 2.3M | — | — | 3Y notice |
| 4 Sept 2026 | Paul Brennan | Other | — | 1.0M | 4.5M | — | 3Y notice |
| 4 Sept 2026 | Simon Richard Lill | Other | 734k | 3.0M | — | — | 3Y notice |
| 4 Sept 2026 | Timothy Peter Manners | Other | — | 1.0M | 4.5M | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.