COOPER METALS LIMITED
ASX:CPMMaterialsToday’s holders own 73.4% of what they think they own, once every option and right converts.
Share count grew 83% in 24 months; options/rights overhang 36% of shares; 2 cash raises in 24 months
COOPER METALS LIMITED increased its ordinary share count from 144M shares as of October 2024 to 144M shares as of October 2026, a rise of 83.4% in its latest share-count filing. The company raised capital twice in the 24-month window for total proceeds of A$5.9M, most recently an A$4.9M Placement and Non-Renounceable Entitlement Issue in October 2026. Options and rights could convert into 52M new shares, representing a 36.3% overhang on current shares, with no in-the-money options and the nearest expiry in November 2026. The company reports more than 4 quarters of funding at the recent spend rate. Two proposed securities issues (Appendix 3B) are pending, with the nearest expected issue date in November 2026.
Quick answers · 6
Why was CPM in a trading halt?
Cooper Metals requested a trading halt on 8 Oct 2026, giving the reason "Pending announcement regarding a material acquisition and capital raising". Trading was expected to resume 12 Oct 2026.
Is CPM raising capital?
Cooper Metals has 2 proposed issues of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement and Non-Renounceable Entitlement Issue of $4.9M on 12 Oct 2026.
How much placement capacity does CPM have left?
None of the 15% placement capacity counted as used in the last 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.
How much cash does CPM have?
In its quarterly cash report for the quarter ended 30 June 2026, Cooper Metals reported $1.8M of cash and estimated 4.9 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do CPM's options expire?
Unexercised options and rights equal 36.3% of Cooper Metals's shares on issue; the nearest expiry is Nov 2026.
How much has CPM's share count grown?
Cooper Metals has 143.7M shares on issue as at 28 Oct 2026, up 83.4% over 24 months according to its Appendix 2A filings.
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 | CPM : ORDINARY FULLY PAID | 143.7M | Appendix 2A |
| 21 Sept 2026 | 3G · unquoted | ORDINARY FULLY PAID | 115.0M | Appendix 3G |
| 20 July 2026 | 2A · quoted issue | CPM : ORDINARY FULLY PAID | 112.9M | Appendix 2A |
| 20 July 2026 | 2A · quoted issue | CPM : ORDINARY FULLY PAID | 100.0M | Appendix 2A |
| 20 July 2026 | 3G · unquoted | CPM : ORDINARY FULLY PAID | 97.9M | Appendix 3G |
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 · 2 in the last 12 months
Retail offer
An offer existing holders can take part in — the one structural advantage retail has in a raise. Dated recently and not yet recorded as complete.
Closing dates are not in the filings this site holds. Check the company's own announcement below before acting on this.
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 · Targeted field work 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
- Price-triggered44.2M · 30.7% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 26.8M of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered8.0M · 5.5% 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: 17.4M priced, 34.8M 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 33.3% 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 $0.073 today. No more priced supply until 1.5× today’s price, which takes it to 17.1M (11.9% 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.
- 34.8M (66.7% 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 |
|---|---|---|---|---|---|---|
| CPMO | Options | Price-triggered, no exercise price stated | — | 24 Nov 2026 | 17.8M | Filing |
| CPMAL | Options | Price-triggered | $0.25 | 15 Dec 2026 | 300k | Filing |
| CPMAO | Options | Price-triggered | $0.10 | 20 July 2029 | 17.1M | Filing |
| CPMAQ | Options | Price-triggered, no exercise price stated | — | 11 Nov 2029 | 9.0M | Filing |
| CPMAM | Performance rights | Condition-triggered | — | — | 8.0M | 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 |
|---|---|---|---|---|---|---|---|
| 31 July 2026 | Tim Armstrong | Buy on-market | 300k | — | — | $17k | 3Y notice |
| 20 July 2026 | Andrew McLeod | Buy | 200k | 600k | 750k | $10k | 3Y notice |
| 20 July 2026 | Michael Frayne | Buy | 1.5M | 1.8M | 1.5M | $75k | 3Y notice |
| 20 July 2026 | Tim Armstrong | Buy | 350k | 2.0M | 2.3M | $18k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.