Companies / GMN

GOLD MOUNTAIN LIMITED

ASX:GMNMaterials
304.6M shares on issueASX (delayed) · snapshot 11 Sept 2026405.0M fully diluted+33.0% if every option and right converts$0.070price · delayed$21.3Mmarket cap · indicative

Today’s holders own 75.2% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 238% in 24 months; 6 cash raises in 24 months; options/rights overhang 33% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway7.5 quarters of funding
Share-count growth (24m)237.8%
Raise cadence (24m)6 cash raises
Options & rights overhang33.0% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesnone

GOLD MOUNTAIN LIMITED underwent an approximately 1-for-50 share consolidation in July 2025. Following this, its ordinary share count grew 289.7% between August 2024 and July 2026, with the latest share count standing at 305M. The company raised capital six times in the past 24 months for total disclosed proceeds of A$22.3M, most recently a A$4.5M placement in June 2026. Options and rights on issue could convert into 100M new shares, representing 33.0% of the current share count, with the nearest expiry in November 2026. As of the June 2026 quarter, the company had A$10.7M in available cash, covering approximately 7.5 quarters of operations. There are no proposed securities issues currently pending.

AI-generated summary of this page's cited filings · updated 8 Sept 2026
Get told when this changes
Set up alerts
Daily email alerts cover risk-level moves, new raises, pending proposed issues and option expiries for the companies you follow.
33.0%
Options & rights overhang
In-the-money supply · most strikes not on record
3
Raises · last 12 months
7.5 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Adjusted for the 1-for-50 consolidation (15 July 2025). Latest count 304.6M per ASX (delayed) (snapshot 11 Sept 2026).
100M200M300MDec 24Oct 25Sept 261-for-50 consolidationCash raise · 30 June 2026Cash raise · 29 Apr 2026Cash raise · 26 Sept 2025Cash raise · 14 May 2025Cash raise · 3 Apr 2025Cash raise · 2 Apr 2025304.6M

Cash runway

7.5 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Apr 2028 at the reported spend rate.
$10.7M 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: $7.4M cash at quarter end (item 4.6), 5.2 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.
Free account
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.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
31 July 20262A · quoted issueGMN : ORDINARY FULLY PAID304.6MAppendix 2A
13 July 20262A · quoted issueGMN : ORDINARY FULLY PAID304.4MAppendix 2A
30 June 20262A · quoted issueGMN : ORDINARY FULLY PAID266.9MAppendix 2A
30 June 20262A · quoted issueGMN : ORDINARY FULLY PAID244.4MAppendix 2A
24 June 20262A · quoted issueGMN : ORDINARY FULLY PAID221.9MAppendix 2A
Free account
58 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Capital raises

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

every 3 monthsaverage gap between raises
2.4 monthssince the most recent
2 Apr 202530 June 2026first to most recent in this window
$4.5M
Placement
30 June 2026 COMPLETE
Free account
9 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

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.

Free account
21 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

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.

No 15% placement capacity left — all of it 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.
Free account
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.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

33.0%
Options & rights overhang · of current shares
In-the-money supply · most strikes not on record
100.5M
Potential new shares
Nov 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered71.0M · 23.3% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 61.7M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered29.5M · 9.7% 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: 9.3M priced, 91.2M 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
50.2M100.5M$0.070 now0.25× today ($0.018) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.035) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.053) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.070) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.088) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.105) — 2.0M of the priced supply in the money, 0.7% of shares on issue2× today ($0.140) — 2.0M of the priced supply in the money, 0.7% of shares on issue3× today ($0.210) — 2.0M of the priced supply in the money, 0.7% of shares on issue5× today ($0.350) — 5.9M of the priced supply in the money, 1.9% of shares on issue10× today ($0.700) — 8.7M of the priced supply in the money, 2.9% of shares on issue0.25×0.5×0.75×now1.25×1.5×10×

An exercise price is on record for only 9.2% 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 $0.070 today. No more priced supply until 1.5× today’s price, which takes it to 2.0M (0.7% 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.
  • 91.2M (90.8% 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.
  • 600k more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
GMNAYOptionsPrice-triggered$2.0024 Nov 2026200kFiling
GMNAUOptionsPrice-triggered$6.0021 Dec 2026400kFiling
GMNAACOptionsPrice-triggered$0.5028 Feb 202783kFiling
GMNODOptionsPrice-triggered15 May 202745.7MFiling
GMNAADOptionsPrice-triggered$0.5031 May 202783kFiling
GMNOCOptionsPrice-triggered20 June 202716.0MFiling
GMNAAPOptionsPrice-triggered$0.2320 June 20271.3MFiling
GMNAAQOptionsPrice-triggered$0.2820 June 20271.3MFiling
GMNAAROptionsPrice-triggered$0.3320 June 20271.3MFiling
GMNAAEOptionsPrice-triggered$0.5031 Aug 202783kFiling
GMNAAFOptionsPrice-triggered$0.5030 Nov 202783kFiling
GMNAAAOptionsPrice-triggered$0.5015 Dec 20271.8MFiling
GMNAHOptionsPrice-triggered$0.1016 Feb 20282.0MFiling
GMNAAGOptionsPrice-triggered$0.5028 Feb 202883kFiling
GMNAAHOptionsPrice-triggered$0.5031 May 202883kFiling
GMNAAIOptionsPrice-triggered$0.5031 Aug 202883kFiling
GMNAAJOptionsPrice-triggered$0.5030 Nov 202883kFiling
GMNAAKOptionsPrice-triggered$0.5028 Feb 202983kFiling
GMNAALOptionsPrice-triggered$0.5031 May 202983kFiling
GMNAAMOptionsPrice-triggered$0.5031 Aug 202983kFiling
GMNAANOptionsPrice-triggered$0.5030 Nov 202983kFiling
GMNAAOPerformance rightsCondition-triggered29.5MFiling 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.

Free account
22 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.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
31 July 2026Marcelo IdoyagaOther150k$12k3Y notice
8 May 2026David Andrew EvansSell on-market$403k3Y notice
20 Apr 2026David Andrew EvansSell on-market4.5M$567k3Y notice
Free account
16 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
Free account: 2 full company unlocks every month, no card.
Create free accountSee plans

Ownership

Free account
Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
Free account: 2 full company unlocks every month, no card.
Create free account

Latest announcements

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