DESERT MINERALS LTD
ASX:DSMMaterialsToday’s holders own 75.1% of what they think they own, once every option and right converts.
Options/rights overhang 33% of shares; 2 cash raises in 24 months; 4% of shares in the money
DESERT MINERALS LTD has a disclosed ordinary share count of 29M as of July 2026. The company raised capital twice in the past 24 months for total disclosed proceeds of A$6.0M, with the most recent event being a A$1.0M placement in May 2026. Options and rights on issue could convert into 10M new shares, representing 33.2% of the current share count, with 4% in the money and the nearest expiry in October 2028. As of the June 2026 quarter, the company reported A$3.9M in available cash, sufficient to cover 23.9 quarters of operations at its recent spending rate. No proposed securities issues are pending.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 4 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 1 Sept 2026 | 3G · unquoted | DSM : ORDINARY FULLY PAID | 28.4M | Appendix 3G |
| 9 July 2026 | 2A · quoted issue | DSM : ORDINARY FULLY PAID | 28.4M | Appendix 2A |
| 18 June 2026 | 2A · quoted issue | DSM : ORDINARY FULLY PAID | 28.0M | Appendix 2A |
| 10 June 2026 | 2A · quoted issue | DSM : ORDINARY FULLY PAID | 27.9M | Appendix 2A |
Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (28.4M) need not equal the current count above (29.4M).
Capital raises
2 cash raises in the last 24 months · 2 in the last 12 months
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 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
At $0.70 today, 1.3M securities are in the money (4.3% of shares on issue) — a floor, because an exercise price is on record for only 12.8% of this supply. No price up to ten times today’s switches on any more priced supply.
- 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.
- 8.5M (87.2% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| DSMAB | Options | Price-triggered | — | 21 Oct 2028 | 8.5M | Filing |
| — | Options | Price-triggered | $0.35 | 1 Sept 2029 | 1.3M | Filing |
“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.
- DSMACPrice-triggered600k securities → 09 July 2026 Appendix 2A
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 6 Nov 2025 | Peretz Schapiro | Buy on-market | 25k | — | — | $5k | 3Y notice |
| 4 Nov 2025 | Peretz Schapiro | Buy on-market | 25k | — | — | $5k | 3Y notice |
| 27 Oct 2025 | Peretz Schapiro | Buy on-market | 75k | 600k | — | $17k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.