GREAT DIVIDE MINING LTD
ASX:GDMMaterialsToday’s holders own 82.9% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 73% in 24 months; 5 cash raises in 24 months
Between October 2024 and August 2026, its latest share-count filing, Great Divide Mining Ltd's ordinary share count grew 72.8% to 69M shares. The company raised capital five times in the 24-month window for total disclosed proceeds of A$4.6M, most recently a A$2.5M placement in February 2026. Options and rights on issue could convert into 14M new shares, equal to 20.7% of the current share count, of which 3% are in the money at the current share price; the nearest expiry falls in December 2027. Based on the latest available quarterly report for June 2026, the reported cash would since have been used up at the reported spend rate, and no later cash report is on record, so no funding-runway estimate applies. No proposed securities issues are currently pending.
Quick answers · 5
When did GDM last raise capital?
The last capital raise in Great Divide Mining's filings is Placement of $2.5M announced 5 Feb 2026, one of 3 cash raises in 24 months.
How much placement capacity does GDM have left?
About 55% of the 15% placement capacity left, about 45% 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 GDM have?
In its quarterly cash report for the quarter ended 30 June 2026, Great Divide Mining reported $658k of cash and estimated 2.5 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do GDM's options expire?
Unexercised options and rights equal 20.7% of Great Divide Mining's shares on issue; the nearest expiry is Dec 2027.
How much has GDM's share count grown?
Great Divide Mining has 69.5M shares on issue as at 28 Oct 2026, up 72.8% over 24 months according to its Appendix 2A filings.
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 |
|---|---|---|---|---|
| 28 Aug 2026 | 2A · quoted issue | GDM : ORDINARY FULLY PAID | 69.5M | Appendix 2A |
| 28 Aug 2026 | 3H · cancellation | GDM : ORDINARY FULLY PAID | 68.0M | Appendix 3H |
| 20 Mar 2026 | 3G · unquoted | GDM : ORDINARY FULLY PAID | 68.0M | Appendix 3G |
| 19 Mar 2026 | 2A · quoted issue | GDM : ORDINARY FULLY PAID | 68.0M | Appendix 2A |
| 11 Feb 2026 | 3G · unquoted | GDM : ORDINARY FULLY PAID | 60.2M | Appendix 3G |
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
3 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
At $0.21 today, 2.0M securities are in the money (2.9% of shares on issue). At double today’s price it is 2.8M (4.0% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| GDMAF | Options | Price-triggered | $0.50 | 22 Dec 2027 | 5.0M | Filing |
| GDMAI | Options | Price-triggered | $0.40 | 20 Mar 2028 | 750k | Filing |
| GDMAD | Options | Price-triggered | $0.20 | 23 Aug 2028 | 2.0M | Filing |
| GDMAG | Options | Price-triggered | $0.50 | 5 Feb 2029 | 2.3M | Filing |
| GDMAH | Options | Price-triggered | $0.48 | 11 Feb 2029 | 1.3M | Filing |
| GDMAJ | Options | Price-triggered | $0.50 | 20 Mar 2030 | 1.5M | Filing |
| GDMAK | Options | Price-triggered | $0.70 | 20 Mar 2030 | 1.5M | 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 |
|---|---|---|---|---|---|---|---|
| 29 Aug 2026 | Simon Tolhurst | Other off-market | 951k | 1.4M | — | $239k | 3Y notice |
| 28 Aug 2026 | Adam Arkinstall | Other off-market | — | — | — | $300k | 3Y notice |
| 23 Aug 2026 | Adam Arkinstall | Other | — | — | — | — | 3Y notice |
| 23 Aug 2026 | Paul Ryan | Other | — | — | — | — | 3Y notice |
| 23 Aug 2026 | Simon Tolhurst | Sell | 475k | 1.3M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.