Companies / GRE

GREENTECH METALS LIMITED

ASX:GREMaterials
374.5M shares on issueASX (delayed) · snapshot 11 Sept 2026474.7M fully diluted+26.8% if every option and right converts$0.057price · delayed$21.3Mmarket cap · indicative

Today’s holders own 78.9% of what they think they own, once every option and right converts.

High
Dilution risk

Runway under 2 quarters; share count grew 345% in 24 months; 2 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.2 quarters of funding
Share-count growth (24m)345.4%
Raise cadence (24m)2 cash raises
Options & rights overhang26.8% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

GREENTECH METALS LIMITED's ordinary share count grew 345.4% between February 2024 and June 2026, reaching 375M shares. The company raised capital twice in the past 24 months, for a total of A$12.7M, with the most recent raise being a A$7.5M placement in May 2026. Options on issue represent potential new shares of 100M, or 26.8% of the current share count, with the nearest expiry in November 2026. At the June 2026 quarter, the company reported A$3.8M in available cash, sufficient for approximately 1.2 quarters of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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26.8%
Options & rights overhang
0.0%
In-the-money supply
2
Raises · last 12 months
1.2 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 374.5M per ASX (delayed) (snapshot 11 Sept 2026).
100M200M300MDec 24Oct 25Sept 26Cash raise · 7 May 2026Cash raise · 28 Nov 2025374.5M

Cash runway

1.2 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
Funds operations to about Oct 2026 at the reported spend rate.
$3.8M 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: $6.4M cash at quarter end (item 4.6), 2.1 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
7 July 20263H · cancellationGRE : ORDINARY FULLY PAID374.5MAppendix 3H
30 June 20262A · quoted issueGRE : ORDINARY FULLY PAID374.5MAppendix 2A
18 May 20262A · quoted issueGRE : ORDINARY FULLY PAID324.5MAppendix 2A
3 Mar 20263G · unquotedGRE : ORDINARY FULLY PAID274.5MAppendix 3G
6 Feb 20263G · unquotedGRE : ORDINARY FULLY PAID270.8MAppendix 3G
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30 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

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

every 5.3 monthsaverage gap between raises
4.2 monthssince the most recent
28 Nov 2025 – 7 May 2026first to most recent in this window
$7.5M
Placement
7 May 2026 COMPLETE
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4 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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12 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.

No estimate — the filings already exceed 15% of the share count we can measure, which means securities were added to the base during the year that we cannot see. 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

26.8%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
100.2M
Potential new shares
Nov 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered85.2M · 22.8% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 29.4M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered15.0M · 4.0% 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: 55.9M priced, 44.4M 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
50.1M100.2M$0.057 now0.25× today ($0.014) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.029) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.043) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.057) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.071) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.086) — 20.0M of the priced supply in the money, 5.3% of shares on issue2× today ($0.114) — 20.0M of the priced supply in the money, 5.3% of shares on issue3× today ($0.171) — 27.3M of the priced supply in the money, 7.3% of shares on issue5× today ($0.285) — 44.3M of the priced supply in the money, 11.8% of shares on issue10× today ($0.570) — 55.9M of the priced supply in the money, 14.9% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.057 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.5× today’s price, which takes it to 20.0M (5.3% 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.
  • 44.4M (44.3% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
GREALOptionsPrice-triggered$0.239 Nov 202612.5MFiling
GREAMOptionsPrice-triggered$0.308 Feb 2027600kFiling
GREANOptionsPrice-triggered$0.408 Feb 2027500kFiling
GREAOOptionsPrice-triggered$0.508 Feb 2027500kFiling
GREAIOptionsPrice-triggered$0.169 July 20271.3MFiling
GREAHOptionsPrice-triggered$0.164 Sept 20271.3MFiling
GREATOptionsPrice-triggered$0.169 Nov 20274.8MFiling
GREAKOptionsPrice-triggered$0.309 Nov 202710.0MFiling
GREAPOptionsPrice-triggered$0.2020 Dec 20271.5MFiling
GREOOptionsPrice-triggered—9 Jan 202829.4MFiling
GREAROptionsPrice-triggered$0.08328 Jan 202920.0MFiling
GREAUOptionsPrice-triggered$0.253 Mar 20313.0MFiling
GREASPerformance rightsCondition-triggered——15.0MFiling 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.

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13 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
30 June 2026Simon KidstonBuy placement333k———3Y notice
30 June 2026Stefan MurphyBuy placement267k———3Y notice
30 June 2026Thomas ReddicliffeBuy placement267k1.0M1.0M—3Y notice
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7 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

24 Aug 2026Change in substantial holding - JP
11 Aug 2026Munni Munni Heritage Survey Commences
2 Aug 20268,300m Drill Program Underway at Whundo and Munni Munni
27 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
13 July 2026Change in substantial holding
12 July 2026$PGeochemical Review Highlights Magmatic Sulphide Targets
7 July 2026Notification of cessation of securities - GRE
6 July 2026GreenTech Appoints Chief Geologist
3 July 2026Change of Director's Interest Notice - SM, SK, TR
2 July 2026$PGreenTech readies for Munni Munni and Whundo drill program
30 June 2026Cleansing Notice
30 June 2026Application for quotation of securities - GRE
25 June 2026Results of Meeting
9 June 2026Appointment of Technical and Product Marketing Advisor
22 May 2026Notice of General Meeting/Proxy Form
19 May 2026Change in Substantial Holding
18 May 2026Cleansing Notice
18 May 2026Application for quotation of securities - GRE
11 May 2026Investor Presentation
11 May 2026Proposed issue of securities - GRE

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