EVOLUTION ENERGY MINERALS LIMITED
ASX:EV1MaterialsToday’s holders own 76.8% of what they think they own, once every option and right converts.
Share count grew 125% in 24 months; runway 2–4 quarters; options/rights overhang 30% of shares
EVOLUTION ENERGY MINERALS LIMITED had 817M ordinary shares as of March 2026, its latest share-count filing. A comparable share-count change figure is not available because the filed Appendix 2A series ends before the start of the comparison window. The company raised capital twice in the past 24 months for total proceeds of A$5.9M, most recently a Renounceable Entitlement Offer (with Follow-on Placement) raising A$4.2M in February 2026. Options and rights on issue could convert into 247M new shares, a 30.2% overhang; none are in the money, and the nearest expiry is October 2027. The company has 2 to 4 quarters of funding at the recent spend rate. No proposed securities issues are pending.
Quick answers · 4
When did EV1 last raise capital?
The last capital raise in Evolution Energy Minerals's filings is Renounceable Entitlement Offer (with Follow-on Placement) of $4.2M announced 11 Feb 2026, one of 2 cash raises in 24 months.
How much placement capacity does EV1 have left?
About 67% of the 15% placement capacity left, about 33% used in 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does EV1 have?
In its quarterly cash report for the quarter ended 30 Sept 2026, Evolution Energy Minerals reported $2.2M of cash and estimated 3.6 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do EV1's options expire?
Unexercised options and rights equal 30.2% of Evolution Energy Minerals's shares on issue; the nearest expiry is Oct 2027.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 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 |
|---|---|---|---|---|
| 12 Mar 2026 | 2A · quoted issue | EV1 : ORDINARY FULLY PAID | 537.9M | Appendix 2A |
| 12 Mar 2026 | 2A · quoted issue | EV1 : ORDINARY FULLY PAID | 547.9M | Appendix 2A |
| 12 Mar 2026 | 2A · quoted issue | EV1 : ORDINARY FULLY PAID | 806.7M | Appendix 2A |
| 16 Feb 2026 | 2A · quoted issue | EV1 : ORDINARY FULLY PAID | 537.9M | Appendix 2A |
| 9 Dec 2025 | 3G · unquoted | EV1 : ORDINARY FULLY PAID | 537.7M | Appendix 3G |
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 (537.9M) need not equal the current count above (816.7M).
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
2 cash raises in the last 24 months · 1 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 / 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 8.2% 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 $0.008 today. No more priced supply until 3× today’s price, which takes it to 20.0M (2.4% 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.
- 1.4M (0.6% of the supply above) states a nil exercise price — nothing is paid to convert it, so no share price switches it on or off. It is the flat band, and it is not part of the in-the-money figure.
- 225.3M (91.3% 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 |
|---|---|---|---|---|---|---|
| EV1AF | Options | Price-triggered | Nil | 10 Oct 2027 | 1.4M | Filing |
| EV1AH | Options | Price-triggered | $0.020 | 9 Dec 2027 | 20.0M | Filing |
| EV1O | Options | Price-triggered, no exercise price stated | — | 17 Sept 2028 | 225.3M | 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. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 9 Dec 2025 | Craig MOULTON | Other incentive | 6.9M | 10.3M | — | — | 3Y notice |
| 9 Dec 2025 | David NAOUM | Other incentive | — | 2.5M | — | — | 3Y notice |
| 9 Dec 2025 | Gemma CRYAN | Other incentive | — | 2.5M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.