Companies / GMN

GOLD MOUNTAIN LIMITED

ASX:GMNMaterials
304.6M shares on issueASX (delayed) · snapshot 28 Oct 2026405.0M fully diluted+33.0% if every option and right converts$0.049price · delayed$14.9MMarket capAt the previous close. On a day the price moves, shares × today’s price will differ. Prices delayed.

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 runway6.9 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's ordinary share count was 305M as of July 2026. The company underwent an approximately 1-for-50 share consolidation in July 2025; the share-count change between August 2024 and July 2026 is adjusted for that consolidation and stands at a 237.8% increase. In the past 24 months, it raised A$22.3M across six capital raisings, most recently a A$4.5M placement in June 2026. Options and rights could convert into 100M new shares, a 33.0% overhang, none currently in the money, with the nearest expiry in November 2026. Available cash provides more than 4 quarters of funding at the recent spend rate. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 17 Oct 2026
Quick answers · 4

When did GMN last raise capital?

The last capital raise in Gold Mountain's filings is Placement of $4.5M announced 30 June 2026, one of 6 cash raises in 24 months.

How much placement capacity does GMN have left?

None of the 15% placement capacity counted as used in the last 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 GMN have?

In its quarterly cash report for the quarter ended 30 June 2026, Gold Mountain reported $7.4M of cash and estimated 5.2 quarters of funding available at its current rate of spending. That is the company's own estimate.

When do GMN's options expire?

Unexercised options and rights equal 33% of Gold Mountain's shares on issue; the nearest expiry is Nov 2026.

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33.0%
Options & rights overhang
—
In the moneyAn option whose exercise price is below the last closing share price, so converting it pays. These are the options most likely to become new shares soon. supply · most strikes not on record
2
Raises · last 12 months
6.9 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 28 Oct 2026).
100M200M300MDec 24Nov 25Oct 261-for-50 consolidationCash raise · 30 June 2026Cash raise · 29 Apr 2026Cash raise · 29 Sept 2025Cash raise · 15 May 2025Cash raise · 3 Apr 2025Cash raise · 3 Apr 2025304.6M

Cash runway

6.9 qtrs OURS
More than four quarters of funding at the recent spend rate.
Funds operations to about July 2028 at the reported spend rate.
Adds the $4.5M raise announced 30 June 2026 (filing).
FILED 5.2 qtrs · $7.4M cash · quarter ended 30 June 2026 · before the raise above came in
OURS our estimate, carried to todayOURSOur estimate for today. We take the cash in the company’s latest cash report, deduct spending since at its reported rate, and, for quarterly filers, add raises announced after it. It moves daily; announced money may not all be received yet.$7.4M cash at 30 Jun 2026 + $4.5M announced raises − $2.0M spent ($1.4M a quarter × 120 days) = $9.9M left → 6.9 qtrsFILED as the company reportedFILEDAs the company stated it in its latest cash report. Dated to the end of that period, it does not change until the next report.
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11 cash reports on record — Cash runway history
Cash, net spend and cover trend from every Appendix 4C/5B and 4D/4E on record up to 30 June 2026.
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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)

DateFormSecurityOn issue, per this filingSource
31 July 20262A · quoted issueGMN : ORDINARY FULLY PAID304.6MAppendix 2A
14 July 20262A · quoted issueGMN : ORDINARY FULLY PAID304.4MAppendix 2A
1 July 20262A · quoted issueGMN : ORDINARY FULLY PAID266.9MAppendix 2A
1 July 20262A · quoted issueGMN : ORDINARY FULLY PAID244.4MAppendix 2A
24 June 20262A · quoted issueGMN : ORDINARY FULLY PAID221.9MAppendix 2A
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58 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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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.

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Securities on issue, by class
How the share count and each option and rights class moved, month by month, with every number in a table.
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Capital raises

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

every 3.7 monthsaverage gap between raises
3.9 monthssince the most recent
3 Apr 2025 – 30 June 2026first to most recent in this window
$4.5M
Placement
At 10.0c, 25% above the last close
30 June 2026 COMPLETE
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9 issues (incl. 2 exercises or conversions) 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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21 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 / 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.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-10-28). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure.
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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

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$0.049 now0.25× today ($0.012) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.025) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.037) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.049) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.061) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.074) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.098) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.147) — 2.0M of the priced supply in the money, 0.7% of shares on issue5× today ($0.245) — 3.3M of the priced supply in the money, 1.1% of shares on issue10× today ($0.490) — 5.9M of the priced supply in the money, 1.9% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

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 $0.049 today. No more priced supply until 3× 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.
  • 3.4M 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-triggered, no exercise price stated—15 May 202745.7MFiling
GMNAADOptionsPrice-triggered$0.5031 May 202783kFiling
GMNOCOptionsPrice-triggered, no exercise price stated—20 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-triggered——29.5MFiling 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. 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.

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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.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
31 July 2026Marcelo IdoyagaOther150k——$12k3Y notice
8 May 2026David Andrew EvansSell on-market———$403k3Y notice
20 Apr 2026David Andrew EvansSell on-market——4.5M$567k3Y notice
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16 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

5 Oct 2026$PRight to acquire historical tungsten project secured
30 Sept 2026Appendix 4G and Corporate Governance Statement
30 Sept 2026Annual Report to shareholders
30 Sept 2026Date of Annual General Meeting
30 Sept 2026$PStrong Rare Earth Results and High MREO/TREO Ratios
24 Sept 2026$PAyrton Senna augur drilling rare earths zone extended
15 Sept 2026$PCapivara Down Under strong rare earth results
10 Sept 2026$PAnomalies in Niobium, Magnet REE and Phosphate - Araxa
3 Aug 2026Change of Director's Interest Notice
31 July 2026Cleansing Notice
31 July 2026Application for quotation of securities - GMN
31 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
20 July 2026$PStrong Metallurgical Test Results from Capivara
14 July 2026Cleansing Notice
14 July 2026Application for quotation of securities - GMN
1 July 2026Cleansing Notice
1 July 2026Application for quotation of securities - GMN
1 July 2026Application for quotation of securities - GMN
1 July 2026$PIrajuba IR-1 Prospect Delivers Strong Diamond Drill Results
30 June 2026Proposed issue of securities - GMN

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