Companies / CR1

CONSTELLATION RESOURCES LIMITED

ASX:CR1Materials
107.2M shares on issueASX (delayed) · snapshot 11 Sept 2026116.7M fully diluted+8.9% if every option and right converts$0.14price · delayed$15.5Mmarket cap · indicative

Today’s holders own 91.8% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 74% in 24 months; 5 cash raises in 24 months; runway 4–8 quarters

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway7.2 quarters of funding
Share-count growth (24m)74.3%
Raise cadence (24m)5 cash raises
Options & rights overhang8.9% of shares
In-the-money supply1.9% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

CONSTELLATION RESOURCES LIMITED's ordinary share count grew 74.3% between May 2024 and August 2026, reaching 107M shares. The company raised capital five times over the past 24 months, totalling A$8.5M, with the most recent being a A$3.2M entitlement offer in June 2026. Options and rights on issue could convert into 10M new shares, representing 8.9% of the current share count, with 2% of these in the money and the nearest expiry in March 2027. As of June 2026, the company had A$3.4M in cash, providing cover for 7.2 quarters. There are no pending proposed securities issues.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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8.9%
Options & rights overhang
1.9%
In-the-money supply
1
Raises · last 12 months
7.2 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 107.2M per ASX (delayed) (snapshot 11 Sept 2026).
60M80M100MDec 24Oct 25Sept 26Cash raise · 24 June 2026Cash raise · 8 July 2025Cash raise · 13 June 2025Cash raise · 23 May 2025Cash raise · 21 May 2025107.2M

Cash runway

7.2 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Apr 2028 at the reported spend rate.
$3.4M 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: $520k cash at quarter end (item 4.6), 1.1 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
9 Sept 20263G · unquotedORDINARY FULLY PAID107.2MAppendix 3G
26 Aug 20262A · quoted issueCR1 : ORDINARY FULLY PAID107.2MAppendix 2A
10 Aug 20262A · quoted issueCR1 : ORDINARY FULLY PAID93.7MAppendix 2A
2 Apr 20263G · unquotedCR1 : ORDINARY FULLY PAID80.4MAppendix 3G
25 Aug 20252A · quoted issueCR1 : ORDINARY FULLY PAID80.4MAppendix 2A
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11 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

5 cash raises in the last 24 months · 1 in the last 12 months

every 3.3 monthsaverage gap between raises
2.6 monthssince the most recent
21 May 2025 – 24 June 2026first to most recent in this window
$3.2M
Entitlement Offer
24 June 2026 COMPLETE
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5 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.

2.0M of option supply could convert within 12 months — 1.9% of shares on issue
2.0M in the money, expiring in the window
Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.
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4 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.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).
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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

8.9%
Options & rights overhang · of current shares
1.9%
In-the-money supply · at current price
9.6M
Potential new shares
Mar 2027
Nearest expiry
What a price move would switch on
4.8M9.6M$0.14 now0.25× today ($0.04) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.07) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.11) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.14) — 2.0M of the priced supply in the money, 1.9% of shares on issue1.25× today ($0.18) — 5.5M of the priced supply in the money, 5.1% of shares on issue1.5× today ($0.22) — 5.5M of the priced supply in the money, 5.1% of shares on issue2× today ($0.29) — 8.9M of the priced supply in the money, 8.3% of shares on issue3× today ($0.43) — 9.6M of the priced supply in the money, 8.9% of shares on issue5× today ($0.72) — 9.6M of the priced supply in the money, 8.9% of shares on issue10× today ($1.45) — 9.6M of the priced supply in the money, 8.9% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.14 today, 2.0M securities are in the money (1.9% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 5.5M (5.1% 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
CR1AHOptionsPrice-triggered$0.1231 Mar 20272.0MFiling
CR1AIOptionsPrice-triggered$0.1831 Mar 20283.5MFiling
CR1AJOptionsPrice-triggered$0.2531 Mar 20293.5MFiling
CR1AMOptionsPrice-triggered$0.3031 Mar 2030600kFiling

“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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4 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
26 Aug 2026Ian MiddlemasBuy entitlement/SPP1.0M——$120k3Y notice
26 Aug 2026Mark PearceBuy entitlement/SPP1.0M——$120k3Y notice
11 Aug 2026Ian MiddlemasBuy entitlement/SPP1.8M——$213k3Y notice
11 Aug 2026Mark PearceBuy entitlement/SPP815k——$98k3Y notice
11 Aug 2026Peter WoodmanBuy entitlement/SPP667k400k—$80k3Y notice
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10 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

9 Sept 2026Notification regarding unquoted securities - CR1
31 Aug 2026Appendix 4G and Corporate Governance Statement
31 Aug 2026Annual Report to shareholders
27 Aug 2026Change in substantial holding
27 Aug 2026Change of Director's Interest Notice x2
26 Aug 2026Entitlement Offer Shortfall
26 Aug 2026Notice Under Section 708A
26 Aug 2026Application for quotation of securities - CR1
12 Aug 2026Results of Meeting
11 Aug 2026Change of Director's Interest Notice x 4
10 Aug 2026Application for quotation of securities - CR1
10 Aug 2026Results of Entitlement Offer
26 July 2026$PJune 2026 Quarterly Report
19 July 2026Update - Proposed issue of securities - CR1
19 July 2026Extension to Entitlement Offer Closing Date
14 July 2026Two Key Edmund-Collier Basin SPA-AOs Granted
9 July 2026Notice of General Meeting/Proxy Form
1 July 2026Dispatch of Entitlement Offer Documents and Offer Open
23 June 2026Notice Under Section 708AA
23 June 2026$POffer Document

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