Companies / GSM

GOLDEN STATE MINING LIMITED

ASX:GSMMaterials
482.5M shares on issueASX (delayed) · as of 28 July 2026$0.012price · delayed$5.8Mmarket cap · indicative
C
Dilution grade

Share count grew 40% in 24 months; options/rights overhang 38% of shares; runway 4–8 quarters

Cash runway5.3 quarters of funding
Share-count growth (24m)39.7%
Raise cadence (24m)1 cash raise
Options & rights overhang38.5% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

GOLDEN STATE MINING LIMITED's ordinary share count rose 39.7% between September 2025 and February 2026 to 477M shares. The company raised capital once in the 24-month window for total proceeds of A$1.4M, with the latest raise recorded in August 2025 for A$1.4M. Options and rights on issue could convert into 186M new shares, equal to 38.5% of the current share count, none of which are in the money at the current price; the nearest expiry is April 2027. At the June 2026 quarter the company reported A$1.0M in cash, representing 5.3 quarters of cover at the reported 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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38.5%
Max option dilution
0.0%
ITM option dilution
1
Raises · last 12 months
5.3 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. Latest count 482.5M per ASX (delayed) (28 July 2026).
322.0M380.9M439.8MDec 24Sept 25July 26Cash raise · 28 Aug 2025

Cash runway

5.3 qtrs
More than four quarters of funding at the recent spend rate.
$1.0M 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
29 June 20263H · cancellationGSM : ORDINARY FULLY PAID482.5MAppendix 3H
23 Feb 20263G · unquotedGSM : ORDINARY FULLY PAID471.2MAppendix 3G
23 Feb 20262A · quoted issueGSM : ORDINARY FULLY PAID476.2MAppendix 2A
23 Feb 20262A · quoted issueGSM : ORDINARY FULLY PAID477.5MAppendix 2A
21 Nov 20252A · quoted issueGSM : ORDINARY FULLY PAID471.2MAppendix 2A
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

1 cash raise in the last 24 months · 1 in the last 12 months

$1.4M
Capital raise
28 Aug 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

38.5%
Total overhang · of current shares
0.0%
In the money · at current price
185.8M
Potential new shares
Apr 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
23 Apr 2026Alexander TunnadineBuy730k—$11k3Y notice
29 Mar 2026Christopher TuckwellBuy3.4M——3Y notice
23 Feb 2026Keith MiddletonOther11.3M6.3M—3Y 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

27 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
29 June 2026Notification of cessation of securities - GSM
28 Apr 2026Change of Director's Interest Notice
23 Apr 2026Initial Director's Interest Notice
21 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
20 Apr 2026Peter Williams appointed Chairman
2 Apr 2026Change of Director's Interest Notice
11 Mar 2026Half Year Accounts
23 Feb 2026Change of Director's Interest Notice
23 Feb 2026Section 708A Notice
23 Feb 2026Application for quotation of securities - GSM
23 Feb 2026Notification regarding unquoted securities - GSM
23 Feb 2026Application for quotation of securities - GSM
19 Feb 2026Constitution
19 Feb 2026Proposed issue of securities - GSM
19 Feb 2026Results of Meeting
19 Jan 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
15 Jan 2026Notice of General Meeting/Proxy Form
30 Dec 2025Becoming a substantial holder
11 Dec 2025Final Director's Interest Notice

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