Companies / CRR

CRITICAL RESOURCES LIMITED

ASX:CRRMaterials
3.19B shares on issueASX (delayed) · snapshot 11 Sept 20264.20B fully diluted+31.6% if every option and right converts$0.006price · delayed$19.2Mmarket cap · indicative

Today’s holders own 76.0% of what they think they own, once every option and right converts.

Very high
Dilution risk

Share count grew 79% in 24 months; runway 2–4 quarters; 11 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway2.7 quarters of funding
Share-count growth (24m)79.4%
Raise cadence (24m)11 cash raises
Options & rights overhang31.6% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesopen proposed issue (Appendix 3B)

CRITICAL RESOURCES LIMITED's ordinary share count increased 79.4% between June 2024 and June 2026, reaching 3.19B shares. The company conducted 11 capital raises totalling A$15.4M in the past 24 months, with the most recent being a A$1.6M placement in August 2026. Options and rights outstanding represent a potential 1.01B new shares, or 31.6% of the current share count, with the nearest expiry in October 2027. As of the June 2026 quarter, the company reported A$2.2M in available cash, covering approximately 2.7 quarters of operations. There are three proposed securities issues pending, with the nearest expected in September 2026.

AI-generated summary of this page's cited filings · updated 10 Sept 2026
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31.6%
Options & rights overhang
—
In-the-money supply · most strikes not on record
5
Raises · last 12 months
2.7 qtrs
Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 3.19B per ASX (delayed) (snapshot 11 Sept 2026).
2.50B2.75B3.00B3.25BDec 24Oct 25Sept 26Cash raise · 26 Aug 2026Cash raise · 10 Apr 2026Cash raise · 9 Apr 2026Cash raise · 26 Jan 2026Cash raise · 23 Jan 2026Cash raise · 10 Sept 2025Cash raise · 10 Sept 2025Cash raise · 26 June 2025Cash raise · 26 Mar 20253.19B

Cash runway

2.7 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about Feb 2027 at the reported spend rate.
$2.2M 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: $1.2M cash at quarter end (item 4.6), 1.5 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
2 June 20262A · quoted issueCRR : ORDINARY FULLY PAID3.19BAppendix 2A
28 May 20263G · unquotedCRR : ORDINARY FULLY PAID3.19BAppendix 3G
28 May 20262A · quoted issueCRR : ORDINARY FULLY PAID3.19BAppendix 2A
1 Apr 20262A · quoted issueCRR : ORDINARY FULLY PAID3.19BAppendix 2A
1 Apr 20263G · unquotedCRR : ORDINARY FULLY PAID3.17BAppendix 3G
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29 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

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

every 2.6 monthsaverage gap between raises
0.6 monthssince the most recent
24 Sept 2024 – 26 Aug 2026first to most recent in this window
$1.6M
Placement
26 Aug 2026 ACTIVE
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12 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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9 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 90% of the 15% placement capacity left — about 10% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. 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

3 proposed issues pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.
Paid plan
3 pending issues on record — Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

31.6%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
1.01B
Potential new shares
Oct 2027
Nearest expiry
What a price move would switch on
505.1M1.01B$0.006 now0.25× today ($0.002) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.007) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.009) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.012) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.018) — 377.9M of the priced supply in the money, 11.8% of shares on issue5× today ($0.030) — 387.9M of the priced supply in the money, 12.1% of shares on issue10× today ($0.060) — 407.9M of the priced supply in the money, 12.8% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

An exercise price is on record for only 40.4% 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 $0.006 today. No more priced supply until 3× today’s price, which takes it to 377.9M (11.8% 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.
  • 602.3M (59.6% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
CRRAPOptionsPrice-triggered$0.0153 Oct 2027112.0MFiling
CRRAAOptionsPrice-triggered$0.01514 Feb 2028265.9MFiling
CRROOptionsPrice-triggered—23 Apr 2028602.3MFiling
CRRADOptionsPrice-triggered$0.02022 Dec 202810.0MFiling
CRRAQOptionsPrice-triggered$0.03022 Dec 202810.0MFiling
CRRAROptionsPrice-triggered$0.04022 Dec 202810.0MFiling

“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.

1 class ceased in the last 12 months and is not counted above
The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.
  • CRRANCondition-triggered4.3M securities → 08 Jan 2026 Appendix 2A
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6 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
29 May 2026Bilal AhmadBuy—22.2M—$22k3Y notice
29 May 2026John MarkovicBuy—11.8M—$12k3Y notice
29 May 2026Joshua GordonBuy—1.1M—$1k3Y notice
29 May 2026Nigel BroomhamBuy—167k—$1673Y notice
29 May 2026Timothy WitherBuy—2.0M—$2k3Y notice
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14 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 2026Half Year Accounts
9 Sept 2026$PFull-Format DSD Cell Sustains Month of Cycling
2 Sept 2026$PHistorical Review Defines Three Targets - Silver Peaks NZ
30 Aug 2026Proposed issue of securities - CRR
30 Aug 2026$P$1.6M Placement to Advance Exploration & Technology Programs
27 Aug 2026Sharewise Investor Webinar
26 Aug 2026$PTrading Halt
26 Aug 2026$PCSIRO to Collaborate with CRR on DSD Battery Technology
18 Aug 2026$PClaim Staking Consolidates Mavis Lake Lithium Project
10 Aug 2026$PMultiple New Gold Pathfinder Targets Defined at Lammerlaw NZ
26 July 2026$PTechKnow Investor Conference Presentation
24 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
19 July 2026Technical Thermal Management Adviser Appointed
16 July 2026$PMavis Lake Geochemistry Prioritises Northern Drill Targets
1 July 2026$PPeer Review Validates Dry Cathode Manufacturing Process
22 June 2026$PHigh-Grade NZ Tungsten Confirmed 16.63% WO3 Channel Sample
17 June 2026$PDSD Cathode Advances to Full-Format Pouch Cells
15 June 2026$PCRR Builds Solid-State Battery Layer in a Single Step
10 June 2026$PCroesus New Zealand - Sampling Confirms Gold-Antimony System
9 June 2026$PMavis Lake Lithium Expands North - 14 Targets Identified

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