Companies / CRS

CAPRICE RESOURCES LTD

ASX:CRSMaterials
871.4M shares on issueASX (delayed) · snapshot 11 Sept 2026920.7M fully diluted+5.6% if every option and right converts$0.085price · delayed$74.1Mmarket cap · indicative

Today’s holders own 94.7% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 166% in 24 months; runway 2–4 quarters; 4 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway3.4 quarters of funding
Share-count growth (24m)166.0%
Raise cadence (24m)4 cash raises
Options & rights overhang5.6% of shares
In-the-money supply4.6% of shares
Pending proposed issuesnone

CAPRICE RESOURCES LTD ordinary shares grew 166.0% between September 2024 and July 2026, reaching 871M. The company raised capital four times in the past 24 months for total disclosed proceeds of A$22.2M. The most recent raise was a A$12.7M placement in March 2026. Options and rights on issue represent a potential 49M new shares, or 5.6% of the current share count. Of these, 5% are in the money, with the nearest expiry in January 2027. As of the June 2026 quarter, CAPRICE RESOURCES LTD reported A$10.9M in cash, covering 3.4 quarters of operations. There are no proposed securities issues pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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5.6%
Options & rights overhang
4.6%
In-the-money supply
1
Raises · last 12 months
3.4 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 871.4M per ASX (delayed) (snapshot 11 Sept 2026).
400M600M800MDec 24Oct 25Sept 26Cash raise · 5 Mar 2026Cash raise · 18 July 2025Cash raise · 2 June 2025871.4M

Cash runway

3.4 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about Apr 2027 at the reported spend rate.
$10.9M 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: $10.8M cash at quarter end (item 4.6), 3.8 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
14 Aug 20263H · cancellationCRS : ORDINARY FULLY PAID871.4MAppendix 3H
16 July 20262A · quoted issueCRS : ORDINARY FULLY PAID871.4MAppendix 2A
10 June 20262A · quoted issueCRS : ORDINARY FULLY PAID868.1MAppendix 2A
15 May 20262A · quoted issueCRS : ORDINARY FULLY PAID867.1MAppendix 2A
25 Mar 20263H · cancellationCRS : ORDINARY FULLY PAID861.8MAppendix 3H
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42 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 · 1 in the last 12 months

every 5.4 monthsaverage gap between raises
6.3 monthssince the most recent
28 Oct 2024 – 5 Mar 2026first to most recent in this window
$12.7M
Placement
5 Mar 2026 ACTIVE
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7 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.

32.0M of option supply could convert within 12 months — 3.7% of shares on issue
32.0M 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.

About 15% of the 15% placement capacity left — about 85% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). 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

5.6%
Options & rights overhang · of current shares
4.6%
In-the-money supply · at current price
49.2M
Potential new shares
Jan 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered41.7M · 4.8% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered7.5M · 0.9% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 41.7M priced (of which 40.2M in the money), 7.5M 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.

What a price move would switch on
24.6M49.2M$0.085 now0.25× today ($0.021) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.043) — 27.0M of the priced supply in the money, 3.1% of shares on issue0.75× today ($0.064) — 27.0M of the priced supply in the money, 3.1% of shares on issue1× today ($0.085) — 40.2M of the priced supply in the money, 4.6% of shares on issue1.25× today ($0.106) — 40.2M of the priced supply in the money, 4.6% of shares on issue1.5× today ($0.128) — 40.2M of the priced supply in the money, 4.6% of shares on issue2× today ($0.170) — 41.7M of the priced supply in the money, 4.8% of shares on issue3× today ($0.255) — 41.7M of the priced supply in the money, 4.8% of shares on issue5× today ($0.425) — 41.7M of the priced supply in the money, 4.8% of shares on issue10× today ($0.850) — 41.7M of the priced supply in the money, 4.8% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.085 today, 40.2M securities are in the money (4.6% of shares on issue). At double today’s price it is 41.7M (4.8% 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.
  • 7.5M (15.2% 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
CRSASOptionsPrice-triggered$0.03031 Jan 202727.0MFiling
CRSAXOptionsPrice-triggered$0.0785 Aug 20275.0MFiling
CRSAYOptionsPrice-triggered$0.154 Sept 20281.5MFiling
CRSAWOptionsPrice-triggered$0.0735 Aug 20308.2MFiling
CRSAUPerformance rightsCondition-triggered——7.5MFiling 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.

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.

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.
  • CRSAVPrice-triggered1.0M securities → 018 Dec 2025 Appendix 2A
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5 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
13 Aug 2026Luke CoxSell incentive6.5M—5.0M—3Y notice
13 Aug 2026Marika Elizabeth CoxSell incentive126k———3Y notice
18 Dec 2025Luke CoxOther incentive6.6M1.0M5.5M—3Y notice
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12 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

27 Aug 2026Change in substantial holding
26 Aug 2026Change in substantial holding
24 Aug 2026$PVadrians Gold System Extended Along Strike and At Depth
21 Aug 2026Change of Office Address
14 Aug 2026Change of Director's Interest Notice
14 Aug 2026Notification of cessation of securities - CRS
30 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
27 July 2026Becoming a substantial holder
16 July 2026Cleansing Notice
16 July 2026Application for quotation of securities - CRS
12 July 2026$PGold System Growth Continues Across Island Gold Project
2 July 2026$PWest Arunta Divestment Completed
15 June 2026$PMetallurgical Testwork Confirms High Gold Recovery
10 June 2026Cleansing Notice
10 June 2026Application for quotation of securities - CRS
26 May 2026$PHigh-Grade Gold Growth Continues Across Island Gold System
15 May 2026Cleansing Notice
15 May 2026Application for quotation of securities - CRS
6 May 2026Caprice Investor Presentation - RIU Sydney Resources Roundup
5 May 2026$P22m @ 66.2g/t Au in New High-Grade Zone Parallel to Vadrians

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