BULLETIN RESOURCES LIMITED
ASX:BNRMaterialsToday’s holders own 73.7% of what they think they own, once every option and right converts.
Options/rights overhang 36% of shares
BULLETIN RESOURCES LIMITED has 294M shares outstanding as of August 2024. The company has not lodged any new share-issuance filings since January 2024 and has not raised capital in the past 24 months. Options and rights on issue could convert into 105M new shares, representing 35.7% of the current share count. None of these options are currently in the money, and the nearest expiry date is November 2026. As of the June 2026 quarter, the company reported A$7.3M in available cash, sufficient for approximately 22.7 quarters based on its recent spending rate. No proposed securities issues are pending.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 3 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 1 Dec 2025 | 3H · cancellation | BNR : ORDINARY FULLY PAID | 293.6M | Appendix 3H |
| 2 Dec 2024 | 3H · cancellation | BNR : ORDINARY FULLY PAID | 293.6M | Appendix 3H |
| 14 Aug 2024 | 2A · quoted issue | BNR : ORDINARY FULLY PAID | 293.6M | Appendix 2A |
Capital raises
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
An exercise price is on record for only 6.7% 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 $0.033 today. No more priced supply until 10× today’s price, which takes it to 7.0M (2.4% 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.
- 97.9M (93.3% 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 |
|---|---|---|---|---|---|---|
| BNRAF | Options | Price-triggered | $0.25 | 30 Nov 2026 | 7.0M | Filing |
| BNROA | Options | Price-triggered | — | 31 July 2027 | 97.9M | 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 |
|---|---|---|---|---|---|---|---|
| 14 July 2026 | Robert Martin | Buy on-market | 243k | — | — | $9k | 3Y notice |
| 7 July 2026 | Robert Martin | Buy on-market | 231k | — | — | $9k | 3Y notice |
| 26 June 2026 | Robert Martin | Buy on-market | 327k | — | — | $13k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.