GOLDEN DRAGON MINING LTD
ASX:GDRMaterialsToday’s holders own 76.5% of what they think they own, once every option and right converts.
Options/rights overhang 31% of shares; runway 4–8 quarters; 1 cash raise in 24 months
GOLDEN DRAGON MINING LTD's ordinary share count was unchanged at 55M shares between July 2026 and October 2026, its latest share-count filing. The company raised capital once in the 24-month window, a A$2.2M placement in July 2026, which accounts for the total disclosed proceeds of A$2.2M. Options and rights on issue could convert into 17M new shares, equal to 30.7% of the current share count; none are in the money at the current share price. The nearest expiry is May 2028. The company has more than 4 quarters of funding at the recent spend rate. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in November 2026.
Quick answers · 4
Is GDR raising capital?
Golden Dragon Mining has 1 proposed issue of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $2.2M on 29 July 2026.
How much cash does GDR have?
In its quarterly cash report for the quarter ended 30 Sept 2026, Golden Dragon Mining reported $4.1M of cash and estimated 5.0 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do GDR's options expire?
Unexercised options and rights equal 30.7% of Golden Dragon Mining's shares on issue; the nearest expiry is May 2028.
How much has GDR's share count grown?
Golden Dragon Mining has 55.3M shares on issue as at 28 Oct 2026, up 0.0% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 3 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 |
|---|---|---|---|---|
| 27 Oct 2026 | 2A · quoted issue | GDR : ORDINARY FULLY PAID | 44.1M | Appendix 2A |
| 3 Sept 2026 | 2A · quoted issue | GDR : ORDINARY FULLY PAID | 43.9M | Appendix 2A |
| 31 July 2026 | 2A · quoted issue | GDR : ORDINARY FULLY PAID | 43.8M | Appendix 2A |
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 (44.1M) need not equal the current count above (55.3M).
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
1 cash raise 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
- Price-triggered15.5M · 28.0% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 14.5M of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered1.5M · 2.7% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 1.0M priced, 16.0M 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.
An exercise price is on record for only 5.9% 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 $0.17 today. At double today’s price it is 1.0M (1.8% 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.
- 16.0M (94.1% 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 |
|---|---|---|---|---|---|---|
| GDRAJ | Options | Price-triggered | $0.30 | 9 May 2028 | 1.0M | Filing |
| GDRAD | Options | Price-triggered, no exercise price stated | — | 8 Aug 2028 | 1.5M | Filing |
| GDRAF | Options | Price-triggered, no exercise price stated | — | 27 Oct 2028 | 3.0M | Filing |
| GDRAE | Options | Price-triggered, no exercise price stated | — | 27 Oct 2028 | 7.0M | Filing |
| GDRAH | Options | Price-triggered, no exercise price stated | — | 30 June 2029 | 1.0M | Filing |
| GDRAG | Options | Price-triggered, no exercise price stated | — | 30 June 2029 | 2.0M | Filing |
| GDRAI | Performance rights | Condition-triggered | — | — | 1.5M | Filing 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. For what expires soon across other listed companies, see the options expiry calendar.
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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 14 Sept 2026 | Francesco Cannavo | Buy on-market | 153k | 3.5M | — | — | 3Y notice |
| 11 Sept 2026 | Simon Buswell-Smith | Buy on-market | 30k | — | 1.5M | — | 3Y notice |
| 12 May 2026 | Francesco Cannavo | Buy on-market | 60k | — | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.