Companies / DTM

DART MINING NL

ASX:DTMMaterials
334.2M shares on issueASX (delayed) · snapshot 11 Sept 2026606.4M fully diluted+81.4% if every option and right converts$0.013price · delayed$4.3Mmarket cap · indicative

Today’s holders own 55.1% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 1452% in 24 months; 5 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway-0.5 quarters of funding
Share-count growth (24m)1451.9%
Raise cadence (24m)5 cash raises
Options & rights overhang81.4% 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)

DART MINING NL's ordinary share count grew 1451.9% between September 2024 and August 2026, reaching 334M shares after a 1-for-15 share consolidation in October 2025. The company raised capital five times in the past 24 months for total disclosed proceeds of A$9.6M, with the most recent being a A$2.0M placement in August 2026. Options and rights on issue could convert into 272M new shares, equal to 81.4% of the current share count, with the nearest expiry in November 2026. At the June 2026 quarter, the company reported A$-570K in available cash, approximately -0.5 quarters of funding at its recent spending rate. Two proposed securities issues (Appendix 3B) are pending, with the nearest expected issue date in October 2026.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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81.4%
Options & rights overhang
—
In-the-money supply · most strikes not on record
3
Raises · last 12 months
-0.5 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Adjusted for the 1-for-15 consolidation (17 Oct 2025). Latest count 334.2M per ASX (delayed) (snapshot 11 Sept 2026).
200M250M300MOct 25Mar 26Sept 261-for-15 consolidationCash raise · 20 Aug 2026Cash raise · 26 May 2026Cash raise · 16 Oct 2025334.2M

Cash runway

-0.5 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$-583k 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: $343k cash at quarter end (item 4.6), 0.3 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
27 Aug 20262A · quoted issueDTM : ORDINARY FULLY PAID334.2MAppendix 2A
11 Aug 20262A · quoted issueDTM : ORDINARY FULLY PAID267.4MAppendix 2A
11 Aug 20262A · quoted issueDTM : ORDINARY FULLY PAID262.1MAppendix 2A
2 June 20262A · quoted issueDTM : ORDINARY FULLY PAID262.1MAppendix 2A
1 May 20263G · unquotedORDINARY FULLY PAID209.7MAppendix 3G
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52 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 · 3 in the last 12 months

every 4.5 monthsaverage gap between raises
0.8 monthssince the most recent
19 Feb 2025 – 20 Aug 2026first to most recent in this window
$2.0M
Placement
20 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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10 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 estimate — a share consolidation inside the last 12 months puts the filings and the share count in different units.
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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

2 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
2 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

81.4%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
272.2M
Potential new shares
Nov 2026
Nearest expiry
What a price move would switch on
136.1M272.2M$0.013 now0.25× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.010) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.013) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.016) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.019) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.026) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.039) — 0 of the priced supply in the money, 0.0% of shares on issue5× today ($0.065) — 4.1M of the priced supply in the money, 1.2% of shares on issue10× today ($0.130) — 4.1M of the priced supply in the money, 1.2% 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 5.6% 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 $0.013 today. No more priced supply until 5× today’s price, which takes it to 4.1M (1.2% 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.
  • 256.9M (94.4% 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.
  • 11.2M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
DTMAACOptionsPrice-triggered$0.3013 Nov 20262.0MFiling
DTMOOptionsPrice-triggered—7 May 202829.3MFiling
DTMAAFOptionsPrice-triggered$0.1529 May 2028733kFiling
DTMAAEOptionsPrice-triggered$0.1529 May 20284.4MFiling
DTMAAGOptionsPrice-triggered$0.159 Oct 20282.7MFiling
DTMOCOptionsPrice-triggered—31 Oct 2028227.6MFiling
DTMAAHOptionsPrice-triggered$0.05131 Oct 20284.1MFiling
DTMAEOptionsPrice-triggered$0.9018 Dec 20281.4MFiling

“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.
  • DTMAWPrice-triggered274k securities → 05 Mar 2026 Appendix 2A
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8 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
9 Oct 2025Mr Terrence BatesOther incentive—16.5M—$8k3Y notice
4 Sept 2025Mr Dean TurnbullOther incentive938k5.5M—$5k3Y notice
4 Sept 2025Mr James ChirnsideOther incentive1.9M22.0M—$19k3Y notice
4 Sept 2025Mr Richard UdovenyaOther incentive306k5.5M—$5k3Y notice
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7 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

31 Aug 2026Becoming a substantial holder
27 Aug 2026Cleansing Notice
27 Aug 2026Application for quotation of securities - DTM
24 Aug 2026$PPriority Drilling Targets - Walwa Tin Project
24 Aug 2026Proposed issue of securities - DTM
19 Aug 2026Proposed issue of securities - DTM
19 Aug 2026$PAcquisition of WA gold project and $2m Placement
17 Aug 2026$PTrading Halt
11 Aug 2026Cleansing Notice
11 Aug 2026Application for quotation of securities - DTM
11 Aug 2026Application for quotation of securities - DTM
10 Aug 2026Tungsten Project Update - Supplementary
10 Aug 2026Results of Meeting
3 Aug 2026$PTUNGSTEN PROJECT UPDATE
31 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
10 July 2026General Meeting Letter to Shareholders
10 July 2026Notice of Extraordinary General Meeting/Proxy Form
8 July 2026$PFinal Assays Confirm Gold Mineralisation Along Full Strike
1 July 2026Change in substantial holding
25 June 2026Investor Presentation

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