Companies / GHM

GOLDEN HORSE MINERALS LIMITED

ASX:GHMMaterials
254.7M shares on issueASX (delayed) · as of 28 July 2026$0.41price · delayed$104.4Mmarket cap · indicative
D
Dilution gradeprovisional — limited history

Share count grew 91% in 24 months; runway 2–4 quarters; options/rights overhang 94% of shares

Cash runway3.2 quarters of funding
Share-count growth (24m)90.7%
Raise cadence (24m)2 cash raises
Options & rights overhang93.7% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

GOLDEN HORSE MINERALS LIMITED listed in December 2024, so its disclosure history is short. Its ordinary share count rose 90.7% between April 2025 and May 2026 to 218M shares. The company raised capital twice in the 24‑month window for total disclosed proceeds of A$50.0M, most recently A$35.0M in October 2025. Options and rights on issue could convert into 239M new shares, equal to 93.7% of the current share count, with 0% in the money at the current share price and the nearest expiry in July 2027. At the June 2026 quarter the company reported A$27.9M in available cash, about 3.2 quarters of funding at its recent spending rate. No proposed securities issues (Appendix 3B) are pending.

AI-generated summary of this page's cited filings · updated 28 July 2026
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93.7%
Max option dilution
0.0%
ITM option dilution
1
Raises · last 12 months
3.2 qtrs
Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 254.7M per ASX (delayed) (28 July 2026).
176.9M205.5M234.0MDec 24Oct 25July 26Cash raise · 28 Oct 2025Cash raise · 28 May 2025

Cash runway

3.2 qtrs
Two to four quarters of funding at the recent spend rate.
$27.9M available cash at quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds.
Paid plan
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)

DateFormSecurityTotal on issue afterSource
28 July 20263H · cancellationGHM : CHESS DEPOSITARY INTERESTS 1:1217.7MAppendix 3H
12 May 20262A · quoted issueGHM : CHESS DEPOSITARY INTERESTS 1:1217.7MAppendix 2A
28 Apr 20263H · cancellationGHM : CHESS DEPOSITARY INTERESTS 1:1217.4MAppendix 3H
28 Apr 20262A · quoted issueGHM : CHESS DEPOSITARY INTERESTS 1:1217.5MAppendix 2A
21 Apr 20263H · cancellationGHM : CHESS DEPOSITARY INTERESTS 1:1217.4MAppendix 3H
Paid plan
Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

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

$35.0M
Capital raise
28 Oct 2025
Paid plan
Full raise history
Issue price, discount, brokers, purpose and tranche detail for every raise on record.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

93.7%
Total overhang · of current shares
0.0%
In the money · at current price
238.7M
Potential new shares
July 2027
Nearest expiry
Paid plan
Per-line options & expiry cliffs
Each option line — code, strike, expiry, quantity and ITM value — plus the expiry-cliff chart.
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Director dealings

DateDirectorTypeSharesOptionsValueSource
21 Apr 2026James (Jim) HarrisSell—150k—3Y notice
23 Mar 2026Nicholas AndersonBuy50k—$21k3Y notice
20 Mar 2026Graeme SloanBuy494k1.1M$9k3Y notice
Paid plan
Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

Free account
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

28 July 2026Notification of cessation of securities - GHM
20 July 2026$PQuarterly Cashflow Report
20 July 2026$PQuarterly Activities Report
15 July 2026$PSouthern Cross Regional Exploration Update
1 July 2026$PSouthern Cross Gold Project Update
17 June 2026$PHopes Hill Exploration Update
9 June 2026$PRegional Exploration Success At Southern Cross
27 May 2026$PGold Mineralisation At Hopes Hill Extended At Depth Over 3km
17 May 2026$PMultiple High Priority Targets Identified At Sorrel Project
12 May 2026Application for quotation of securities - GHM
28 Apr 2026Notification of cessation of securities - GHM
28 Apr 2026Application for quotation of securities - GHM
27 Apr 2026$PQuarterly Cashflow Report
27 Apr 2026$PQuarterly Activities Report
22 Apr 2026$PHopes Hill Delivers More Visible Gold
21 Apr 2026Change of Director's Interest Notice - Harris
21 Apr 2026Notification of cessation of securities - GHM
13 Apr 2026$PMore Shallow High-Grade Mineralisation At Southern Cross
8 Apr 2026Application for quotation of securities - GHM
29 Mar 2026Change of Director's Interest Notice - Anderson

Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 July 2026.