EUROPEAN RESOURCES LIMITED
ASX:EREMaterialsToday’s holders own 70.8% of what they think they own, once every option and right converts.
Runway under 2 quarters; 4 cash raises in 24 months; options/rights overhang 41% of shares; since relisting as ERE; prior history under PRS not included
EUROPEAN RESOURCES LIMITED renamed from PRS in December 2025, and all figures cover only the period since the rename. Between May 2026 and August 2026, its latest share-count filing, ordinary shares grew 0.7% to 700M. In that window the company raised capital four times for total proceeds of A$8.1M, most recently a renounceable rights issue raising A$2.6M in April 2026. Options and rights on issue could convert into 289M new shares, representing a 41.3% overhang; none are in the money. The nearest expiry is January 2027. The company has under 2 quarters of funding at the recent spend rate. No proposed securities issues are pending.
Quick answers · 3
When did ERE last raise capital?
The last capital raise in European Resources's filings is Renounceable Rights Issue of $2.6M announced 10 Apr 2026, one of 4 cash raises in 24 months.
How much cash does ERE have?
In its quarterly cash report for the quarter ended 30 Sept 2026, European Resources reported $1.1M of cash and estimated 2.0 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do ERE's options expire?
Unexercised options and rights equal 41.3% of European Resources's shares on issue; the nearest expiry is Jan 2027.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 2 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 10 Aug 2026 | 2A · quoted issue | ERE : ORDINARY FULLY PAID | 699.9M | Appendix 2A |
| 13 May 2026 | 2A · quoted issue | ERE : ORDINARY FULLY PAID | 694.9M | Appendix 2A |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
4 cash raises in the last 24 months · 3 in the last 12 months · counted since relisting as ERE (22 Dec 2025); prior history under PRS is not included
Results due
What the company's own reports say is coming, and when. A month is one the report names; “by end of year” is a deadline such as “Q4”. See every explorer on the results calendar.
- by end 2026 · MREC test work completion (to complete)
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 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
An exercise price is on record for only 11.4% 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 $0.013 today. No more priced supply until 5× today’s price, which takes it to 25.0M (3.6% 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.
- 255.7M (88.6% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| EREAH | Options | Price-triggered | $0.080 | 31 Jan 2027 | 8.0M | Filing |
| EREO | Options | Price-triggered, no exercise price stated | — | 1 Oct 2028 | 255.7M | Filing |
| EREAJ | Options | Price-triggered | $0.040 | 18 Dec 2028 | 25.0M | 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. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 15 May 2026 | Jason Beckton | Buy on-market | 1.0M | — | — | $13k | 3Y notice |
| 13 May 2026 | Jason Beckton | Buy entitlement/SPP | 599k | 599k | — | $9k | 3Y notice |
| 13 May 2026 | John Levings | Buy entitlement/SPP | 1.6M | 1.6M | — | $24k | 3Y notice |
| 13 May 2026 | Peter Nightingale | Buy entitlement/SPP | 7.1M | 7.1M | — | $107k | 3Y notice |
| 13 May 2026 | Stephen Gemell | Buy entitlement/SPP | 667k | 667k | — | $10k | 3Y notice |
| 13 May 2026 | Thomas Mann | Buy entitlement/SPP | 3.6M | 3.6M | — | $53k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.