Companies / FXG

FELIX GOLD LIMITED

ASX:FXGMaterials
516.3M shares on issueASX (delayed) · snapshot 11 Sept 2026550.2M fully diluted+6.6% if every option and right converts$0.25price · delayed$129.1Mmarket cap · indicative

Today’s holders own 93.9% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 102% in 24 months; 4 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.1 quarters of funding
Share-count growth (24m)102.4%
Raise cadence (24m)4 cash raises
Options & rights overhang6.6% of shares
In-the-money supply4.1% of shares
Pending proposed issuesnone

FELIX GOLD LIMITED's ordinary share count grew 102.4% between August 2024 and July 2026, reaching 516M shares. The company raised capital four times in the past 24 months, totalling A$39.3M with disclosed, confirmed proceeds. The most recent capital raise was a A$18.0M placement in December 2025. Options and rights on issue could convert into 34M new shares, representing 6.6% of the current share count, with 4% of these options in the money; the nearest expiry date is January 2028. As of the June 2026 quarter, the company reported A$5.6M in available cash, which would cover approximately 1.1 quarters of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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6.6%
Options & rights overhang
4.1%
In-the-money supply
1
Raises · last 12 months
1.1 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. Latest count 516.3M per ASX (delayed) (snapshot 11 Sept 2026).
350M400M450M500MDec 24Oct 25Sept 26Cash raise · 3 Dec 2025Cash raise · 27 June 2025Cash raise · 4 June 2025Cash raise · 30 Apr 2025516.3M

Cash runway

1.1 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about Sept 2026 — that date has passed, and no later report is on record.
$5.6M 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: $9.6M cash at quarter end (item 4.6), 2.2 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
5 July 20262A · quoted issueFXG : ORDINARY FULLY PAID516.3MAppendix 2A
22 June 20262A · quoted issueFXG : ORDINARY FULLY PAID503.0MAppendix 2A
18 June 20262A · quoted issueFXG : ORDINARY FULLY PAID502.0MAppendix 2A
18 June 20262A · quoted issueFXG : ORDINARY FULLY PAID505.0MAppendix 2A
11 June 20262A · quoted issueFXG : ORDINARY FULLY PAID500.1MAppendix 2A
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47 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 2.4 monthsaverage gap between raises
9.3 monthssince the most recent
30 Apr 2025 – 3 Dec 2025first to most recent in this window
$18.0M
Placement
3 Dec 2025 COMPLETE
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10 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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13 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 92% of the 15% placement capacity left — about 8% 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

6.6%
Options & rights overhang · of current shares
4.1%
In-the-money supply · at current price
33.8M
Potential new shares
Jan 2028
Nearest expiry
What a price move would switch on
16.9M33.8M$0.25 now0.25× today ($0.06) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.13) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.19) — 1.4M of the priced supply in the money, 0.3% of shares on issue1× today ($0.25) — 21.0M of the priced supply in the money, 4.1% of shares on issue1.25× today ($0.31) — 27.2M of the priced supply in the money, 5.3% of shares on issue1.5× today ($0.38) — 27.2M of the priced supply in the money, 5.3% of shares on issue2× today ($0.50) — 27.7M of the priced supply in the money, 5.4% of shares on issue3× today ($0.75) — 33.0M of the priced supply in the money, 6.4% of shares on issue5× today ($1.25) — 33.8M of the priced supply in the money, 6.6% of shares on issue10× today ($2.50) — 33.8M of the priced supply in the money, 6.6% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.25 today, 21.0M securities are in the money (4.1% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 27.2M (5.3% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
FXGAVOptionsPrice-triggered$0.156 Jan 20281.4MFiling
FXGAAAOptionsPrice-triggered$0.2318 Aug 202814.3MFiling
FXGADOptionsPrice-triggered$0.5418 Dec 20282.5MFiling
FXGAWOptionsPrice-triggered$0.2031 Dec 20283.1MFiling
FXGAXOptionsPrice-triggered$0.2531 Dec 20283.1MFiling
FXGAZOptionsPrice-triggered$0.3031 Dec 20283.1MFiling
FXGAAOptionsPrice-triggered$0.4831 Dec 2028500kFiling
FXGAEOptionsPrice-triggered$0.5531 Dec 2028875kFiling
FXGABOptionsPrice-triggered$0.5831 Dec 2028500kFiling
FXGAFOptionsPrice-triggered$0.6531 Dec 2028875kFiling
FXGACOptionsPrice-triggered$0.6831 Dec 2028500kFiling
FXGAGOptionsPrice-triggered$0.7531 Dec 2028875kFiling
FXGAHOptionsPrice-triggered$0.2013 Apr 20292.2MFiling

“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.

3 classes ceased in the last 12 months and are 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.
  • FXGAUPrice-triggered1.9M securities → 05 July 2026 Appendix 2A
  • FXGARPrice-triggered500k securities → 025 May 2026 Appendix 2A
  • FXGAQPrice-triggered500k securities → 022 Apr 2026 Appendix 2A
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13 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
18 June 2026Ronald Hugh BeevorOther300k300k—$45k3Y notice
15 June 2026Andrew Louis Linton BrowneOther300k——$45k3Y notice
13 Apr 2026Andrew Louis Linton BrowneOther10k——$4k3Y notice
13 Apr 2026Joseph Peter WebbOther69k——$25k3Y notice
13 Apr 2026Ronald Hugh BeevorOther25k——$9k3Y notice
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22 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 2026Investor Presentation
27 Aug 2026Ceasing to be a substantial holder
26 Aug 2026$PPilot Plant Produces Antimony Metal
25 Aug 2026Change in substantial holding
18 Aug 2026$PUS Department of Energy Antimony Funding
11 Aug 2026Change of Registered Office
31 July 2026$PQuarterly Activities and Cashflow Reports
19 July 2026Investor Presentation
12 July 2026Change in substantial holding
5 July 2026Cleansing Notice
5 July 2026Application for quotation of securities - FXG
28 June 2026Change of Auditor
22 June 2026Application for quotation of securities - FXG
18 June 2026Application for quotation of securities - FXG
18 June 2026Change of Directors Interest Notice - Beevor
18 June 2026Application for quotation of securities - FXG
16 June 2026Change of Directors Interest Notice - Browne
11 June 2026Application for quotation of securities - FXG
10 June 2026$PUS Antimony Platform Established
3 June 2026$PExtraction Commences at High-Grade US Antimony Project

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