Companies / GBE

GLOBE METALS & MINING LIMITED

ASX:GBEMaterials
961.0M shares on issueASX (delayed) · snapshot 11 Sept 20261.14B fully diluted+19.1% if every option and right converts$0.061price · delayed$58.6Mmarket cap · indicative

Today’s holders own 84.0% of what they think they own, once every option and right converts.

High
Dilution risk

Runway under 2 quarters; share count grew 39% in 24 months; 3 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.6 quarters of funding
Share-count growth (24m)39.0%
Raise cadence (24m)3 cash raises
Options & rights overhang19.1% of shares
In-the-money supply0.2% of shares
Pending proposed issuesnone

GLOBE METALS & MINING LIMITED's ordinary share count grew 39.0% between June 2024 and August 2026, reaching 961M shares. In the past 24 months, the company raised capital three times, for total disclosed proceeds of A$10.3M. The latest raise was a A$8.7M placement in October 2025. Options and rights on issue could convert into 183M new shares, representing 19.1% of the current share count, with the nearest expiry in December 2026. As of June 2026, the company held A$2.3M in cash, providing approximately 1.6 quarters of operating cover. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 8 Sept 2026
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19.1%
Options & rights overhang
0.2%
In-the-money supply
1
Raises · last 12 months
1.6 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 961.0M per ASX (delayed) (snapshot 11 Sept 2026).
700M800M900MDec 24Oct 25Sept 26Cash raise · 2 Oct 2025Cash raise · 30 Apr 2025Cash raise · 30 Apr 2025961.0M

Cash runway

1.6 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
Funds operations to about Nov 2026 at the reported spend rate.
$2.3M 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: $2.8M cash at quarter end (item 4.6), 2.0 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
12 Aug 20262A · quoted issueGBE : ORDINARY FULLY PAID961.0MAppendix 2A
30 July 20262A · quoted issueGBE : ORDINARY FULLY PAID947.2MAppendix 2A
7 July 20263H · cancellationGBE : ORDINARY FULLY PAID937.9MAppendix 3H
23 Dec 20252A · quoted issueGBE : ORDINARY FULLY PAID937.9MAppendix 2A
9 Dec 20252A · quoted issueGBE : ORDINARY FULLY PAID881.7MAppendix 2A
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21 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

3 cash raises in the last 24 months · 1 in the last 12 months

every 5.1 monthsaverage gap between raises
11.3 monthssince the most recent
30 Apr 2025 – 2 Oct 2025first to most recent in this window
$8.7M
Placement
2 Oct 2025 COMPLETE
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6 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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2 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 36% of the 15% placement capacity left — about 64% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. 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

19.1%
Options & rights overhang · of current shares
0.2%
In-the-money supply · at current price
183.1M
Potential new shares
Dec 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered168.9M · 17.6% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered14.2M · 1.5% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 168.9M priced (of which 2.0M in the money), 14.2M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on
91.5M183.1M$0.061 now0.25× today ($0.015) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.030) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.046) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.061) — 2.0M of the priced supply in the money, 0.2% of shares on issue1.25× today ($0.076) — 168.9M of the priced supply in the money, 17.6% of shares on issue1.5× today ($0.091) — 168.9M of the priced supply in the money, 17.6% of shares on issue2× today ($0.122) — 168.9M of the priced supply in the money, 17.6% of shares on issue3× today ($0.183) — 168.9M of the priced supply in the money, 17.6% of shares on issue5× today ($0.305) — 168.9M of the priced supply in the money, 17.6% of shares on issue10× today ($0.610) — 168.9M of the priced supply in the money, 17.6% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.061 today, 2.0M securities are in the money (0.2% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 168.9M (17.6% 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.
  • 14.2M (7.8% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
GBEACOptionsPrice-triggered$0.0691 Dec 2026166.9MFiling
GBEABOptionsPrice-triggered$0.06026 Apr 20282.0MFiling
GBEAYPerformance rightsCondition-triggered——14.2MFiling Meeting

“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.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

2 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.
  • GBEAAPrice-triggered23.2M securities → 07 July 2026 Appendix 2A
  • GBEAOPrice-triggered3.3M securities → 01 Dec 2025 Appendix 2A
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3 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
1 July 2026Bo TanSell125.6M———3Y notice
1 July 2026Michael BarrettSell—1.3M——3Y notice
1 July 2026Michael ChoiSell—1.3M——3Y notice
1 July 2026Ricky Wai Kei LauSell—1.3M——3Y notice
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5 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

23 Aug 2026Physical On-Site Development Activities Advancing Kanyika
19 Aug 2026$PKanyika Niobium Project Update
19 Aug 2026$PResponse to ASX Price Query
18 Aug 2026$PTrading Halt
18 Aug 2026$PPause in Trading
12 Aug 2026Application for quotation of securities - GBE
12 Aug 2026Further Funding Update
4 Aug 2026$PGlobe Secures US$600,000 Working Capital Facility
31 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
30 July 2026Application for quotation of securities - GBE
7 July 2026Change of Director's Interest Notice x 4
7 July 2026Notification of cessation of securities - GBE
30 Apr 2026Investor Presentation
30 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
31 Mar 2026$PKanyika BFS Confirms Strong Project Economics
30 Mar 2026$PTrading Halt
15 Mar 2026Investor Roadshow and Project Update
13 Mar 2026Half Yearly Report and Accounts
30 Jan 2026$PQuarterly Activities / Appendix 5B Cash Flow Report
27 Jan 2026$PConstruction Commences at Kanyika Niobium Project

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