Companies / CMG

CRITICAL MINERALS GROUP LIMITED

ASX:CMGMaterials
126.1M shares on issueASX (delayed) · snapshot 11 Sept 2026157.3M fully diluted+24.7% if every option and right converts$0.067price · delayed$8.5Mmarket cap · indicative

Today’s holders own 80.2% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 75% in 24 months; 4 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway0.3 quarters of funding
Share-count growth (24m)75.1%
Raise cadence (24m)4 cash raises
Options & rights overhang24.7% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

CRITICAL MINERALS GROUP LIMITED's ordinary share count increased by 114.4% between August 2024 and August 2026, reaching 126M shares. The company conducted four capital raises in the past 24 months, totalling A$8.5M, with the most recent being a A$1.5M placement in June 2026. Options on issue represent potential for 31M new shares, which is 24.7% of the current share count; none are currently in the money, and the nearest expiry date is June 2028. As of June 2026, the company held A$329K in cash, which covers approximately 0.3 quarters of its recent operational expenses. There are no pending proposed securities issues.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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24.7%
Options & rights overhang
0.0%
In-the-money supply
2
Raises · last 12 months
0.3 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 126.1M per ASX (delayed) (snapshot 11 Sept 2026).
75M100M125MDec 24Oct 25Sept 26Cash raise · 17 June 2026Cash raise · 11 Nov 2025Cash raise · 24 Apr 2025Cash raise · 23 Apr 2025126.1M

Cash runway

0.3 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about July 2026 — that date has passed, and no later report is on record.
$317k cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $823k cash at quarter end (item 4.6), 0.8 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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11 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
31 Aug 20262A · quoted issueCMG : ORDINARY FULLY PAID126.1MAppendix 2A
31 Aug 20263G · unquotedCMG : ORDINARY FULLY PAID119.6MAppendix 3G
29 June 20262A · quoted issueCMG : ORDINARY FULLY PAID119.6MAppendix 2A
2 Mar 20262A · quoted issueCMG : ORDINARY FULLY PAID104.0MAppendix 2A
2 Mar 20263G · unquotedCMG : ORDINARY FULLY PAID103.9MAppendix 3G
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13 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

4 cash raises in the last 24 months · 2 in the last 12 months

every 4.6 monthsaverage gap between raises
2.9 monthssince the most recent
23 Apr 2025 – 17 June 2026first to most recent in this window
$1.5M
Placement
17 June 2026 COMPLETE
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4 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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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.

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2 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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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.

About 3% of the 15% placement capacity left — about 97% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). One filing in the window states more under 7.1 than the whole allowance and is not counted, so usage may be higher than this. Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

24.7%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
31.2M
Potential new shares
June 2028
Nearest expiry
What a price move would switch on
15.6M31.2M$0.067 now0.25× today ($0.017) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.034) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.050) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.067) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.084) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.101) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.134) — 11.1M of the priced supply in the money, 8.8% of shares on issue3× today ($0.201) — 11.1M of the priced supply in the money, 8.8% of shares on issue5× today ($0.335) — 31.2M of the priced supply in the money, 24.7% of shares on issue10× today ($0.670) — 31.2M of the priced supply in the money, 24.7% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.067 today, 0 securities are in the money (0.0% of shares on issue). At double today’s price it is 11.1M (8.8% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
CMGAGOptionsPrice-triggered$0.2030 June 202820.1MFiling
—OptionsPrice-triggered$0.121 Mar 202911.1MFiling

“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.

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2 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
31 Aug 2026Alan BroomeOther552k276k—$40k3Y notice
31 Aug 2026Scott WinterOther incentive276k238k—$20k3Y notice
31 Aug 2026Stuart McClureOther155k78k—$11k3Y notice
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4 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

10 Sept 2026Ceasing to be a substantial holder
3 Sept 2026Final Director's Interest Notice - S Winter
3 Sept 2026Change of Director's Interest Notice - S Winter
3 Sept 2026Change of Director's Interest Notice - A Broome
3 Sept 2026Change of Director's Interest Notice - S McClure
3 Sept 2026Change in substantial holding - Idemitsu
31 Aug 2026Cleansing notice
31 Aug 2026Notification regarding unquoted securities - CMG
31 Aug 2026Application for quotation of securities - CMG
27 Aug 2026$PLeadership Transition - Pat Kelly Appointed Interim CEO
12 Aug 2026Results of Meeting
12 Aug 2026General Meeting Presentation
11 Aug 2026General meeting - Withdrawal of resolution 4
31 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
21 July 2026Technical & Financial PFS - Supplementary Information
20 July 2026$PTechnical & Financial Pre-Feasibility Study
13 July 2026Notice of General Meeting/Proxy Form
30 June 2026Change in substantial holding - Idemitsu
29 June 2026Cleansing notice
29 June 2026Application for quotation of securities - CMG

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.