Companies / GDM

GREAT DIVIDE MINING LTD

ASX:GDMMaterials
69.5M shares on issueASX (delayed) · snapshot 11 Sept 202683.8M fully diluted+20.7% if every option and right converts$0.33price · delayed$22.9Mmarket cap · indicative

Today’s holders own 82.9% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 73% in 24 months; 5 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway-0.2 quarters of funding
Share-count growth (24m)72.8%
Raise cadence (24m)5 cash raises
Options & rights overhang20.7% of shares
In-the-money supply2.9% of shares
Pending proposed issuesnone

GREAT DIVIDE MINING LTD's ordinary share count grew 147.1% between October 2024 and August 2026, reaching 69M shares. The company raised capital five times in the past 24 months for total disclosed proceeds of A$4.6M, with the most recent being a A$2.5M placement in February 2026. Options and rights on issue could convert into 14M new shares, representing 20.7% of the current share count, of which 3% are in the money; the nearest expiry date is December 2027. As of the June 2026 quarter, the company had negative A$254K in available cash, covering -0.2 quarters of its recent spending rate. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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20.7%
Options & rights overhang
2.9%
In-the-money supply
1
Raises · last 12 months
-0.2 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 69.5M per ASX (delayed) (snapshot 11 Sept 2026).
40M50M60M70MDec 24Oct 25Sept 26Cash raise · 2 Feb 2026Cash raise · 7 May 2025Cash raise · 31 Mar 2025Cash raise · 24 Mar 2025Cash raise · 18 Mar 202569.5M

Cash runway

-0.2 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$-266k 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: $658k cash at quarter end (item 4.6), 2.5 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
28 Aug 20262A · quoted issueGDM : ORDINARY FULLY PAID69.5MAppendix 2A
28 Aug 20263H · cancellationGDM : ORDINARY FULLY PAID68.0MAppendix 3H
20 Mar 20263G · unquotedGDM : ORDINARY FULLY PAID68.0MAppendix 3G
19 Mar 20262A · quoted issueGDM : ORDINARY FULLY PAID68.0MAppendix 2A
11 Feb 20263G · unquotedGDM : ORDINARY FULLY PAID60.2MAppendix 3G
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18 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

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

every 2.6 monthsaverage gap between raises
7.3 monthssince the most recent
18 Mar 2025 – 2 Feb 2026first to most recent in this window
$2.5M
Placement
2 Feb 2026 ACTIVE
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9 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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7 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 74% of the 15% placement capacity left — about 26% 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

20.7%
Options & rights overhang · of current shares
2.9%
In-the-money supply · at current price
14.4M
Potential new shares
Dec 2027
Nearest expiry
What a price move would switch on
7.2M14.4M$0.33 now0.25× today ($0.08) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.17) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.25) — 2.0M of the priced supply in the money, 2.9% of shares on issue1× today ($0.33) — 2.0M of the priced supply in the money, 2.9% of shares on issue1.25× today ($0.41) — 2.8M of the priced supply in the money, 4.0% of shares on issue1.5× today ($0.49) — 4.1M of the priced supply in the money, 5.8% of shares on issue2× today ($0.66) — 12.9M of the priced supply in the money, 18.5% of shares on issue3× today ($0.99) — 14.4M of the priced supply in the money, 20.7% of shares on issue5× today ($1.65) — 14.4M of the priced supply in the money, 20.7% of shares on issue10× today ($3.30) — 14.4M of the priced supply in the money, 20.7% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.33 today, 2.0M securities are in the money (2.9% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
GDMAFOptionsPrice-triggered$0.5022 Dec 20275.0MFiling
GDMAIOptionsPrice-triggered$0.4020 Mar 2028750kFiling
GDMADOptionsPrice-triggered$0.2023 Aug 20282.0MFiling
GDMAGOptionsPrice-triggered$0.505 Feb 20292.3MFiling
GDMAHOptionsPrice-triggered$0.4811 Feb 20291.3MFiling
GDMAJOptionsPrice-triggered$0.5020 Mar 20301.5MFiling
GDMAKOptionsPrice-triggered$0.7020 Mar 20301.5MFiling

“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.

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7 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
29 Aug 2026Simon TolhurstOther off-market951k1.4M—$239k3Y notice
28 Aug 2026Adam ArkinstallOther off-market———$300k3Y notice
23 Aug 2026Adam ArkinstallOther————3Y notice
23 Aug 2026Paul RyanOther————3Y notice
23 Aug 2026Simon TolhurstSell475k1.3M——3Y 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

4 Sept 2026Change of Directors Interest Notice - Tolhurst
2 Sept 2026High-Grade Gold Mineral Resource Restated at Adelong
1 Sept 2026Cross-claim filed by Amara Minerals Limited
1 Sept 2026Change of Directors Interest Notice - Arkinstall
28 Aug 2026Notification of cessation of securities - GDM
28 Aug 2026Application for quotation of securities - GDM
28 Aug 2026Change of Directors Interest Notice - Ryan
28 Aug 2026Change of Directors Interest Notice - Arkinstall
28 Aug 2026Change of Directors Interest Notice - Tollhurst
30 July 2026$PQuarterly Activities and Cashflow Reports
23 July 2026Notice of release of escrowed shares
9 July 2026$PCoonambula Moves Toward Maiden JORC Resource
16 June 2026$PGDM Achieves First Cashflow - Updated
15 June 2026$PGDM Achieves First Cashflow
24 May 2026$PGDM Secures Gold Concentrate Offtake Agreement
18 May 2026Change of Directors Interest Notice - Arkinstall
17 May 2026$PCommencement of Proceedings against Amara Minerals
30 Apr 2026$PQuarterly Activities and Cashflow Reports
29 Apr 2026Dispatch of First Gold Concentrate from Challenger Mine
27 Apr 2026Challenger Tax Liability and ADG Indemnity

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