IRON ROAD LIMITED

ASX:IRDMaterials

840.2M shares on issueASX (delayed) · snapshot 11 Sept 2026880.2M fully diluted+4.8% if every option and right converts$0.009price · delayed$7.6Mmarket cap · indicative

Today’s holders own 95.5% of what they think they own, once every option and right converts.

Low

Dilution risk

Runway under 2 quarters

Absolute levels — not a ranking against other companies.

Cash runway0.1 quarters of funding

Share-count growth (24m)1.0%

Raise cadence (24m)0 cash raises

Options & rights overhang4.8% of shares

In-the-money supplyno data — no exercise price on record

Pending proposed issuesnone

IRON ROAD LIMITED's ordinary share count was 840M as of June 2026, an increase of 1.0% since May 2024. The company has had no capital raises in the past 24 months and has no proposed securities issues pending. Options on issue represent a potential of 40M new shares, or 4.8% of the current share count, with none currently in the money; no filing states an expiry date for these securities. As of the June 2026 quarter, IRON ROAD LIMITED reported A$135K in available cash, providing approximately 0.2 quarters of funding.

AI-generated summary of this page's cited filings · updated 11 Sept 2026

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4.8%

Options & rights overhang

—

In-the-money supply · no stated strikes

Raises · last 12 months

0.1 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 840.2M per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

0.1 qtrs

Less than two quarters of funding at the recent spend rate — near-term funding pressure.

The latest quarterly report funded operations to about June 2026 — that date has passed, and no later report is on record.

$125k 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: $857k cash at quarter end (item 4.6), 1.0 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)

Date	Form	Security	On issue, per this filing	Source
14 June 2026	2A · quoted issue	IRD : ORDINARY FULLY PAID	840.2M	Appendix 2A
26 Nov 2025	3G · unquoted	IRD : ORDINARY FULLY PAID	832.2M	Appendix 3G
7 Oct 2025	2A · quoted issue	IRD : ORDINARY FULLY PAID	832.2M	Appendix 2A
30 June 2025	3H · cancellation	IRD : ORDINARY FULLY PAID	828.7M	Appendix 3H
30 June 2025	2A · quoted issue	IRD : ORDINARY FULLY PAID	830.7M	Appendix 2A

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17 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

No equity raises in the last 24 months.

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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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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 Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).

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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

4.8%

Options & rights overhang · of current shares

—

In-the-money supply · no stated strikes

40.0M

Potential new shares

—

Nearest expiry

What a price move would switch on

No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 40.0M of it converts on something else — a hurdle that may never be met, or terms the filing does not price.

Code	Security	Type	Exercise price	Expiry	On issue	Source
IRDAB	Warrants	Price-triggered	—	—	40.0M	Filing

“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.

1 class ceased in the last 12 months and is not counted above

The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.

IRDADCondition-triggered9.5M securities → 07 Oct 2025 Appendix 2A

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1 option line 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

Date	Director	Type	Shares	Options	Other	Value	Source
12 June 2026	Glen Anthony CHIPMAN	Other	4.8M	—	4.0M	$9k	3Y notice
21 Jan 2026	Glen Anthony CHIPMAN	Other	232k	—	4.0M	—	3Y notice
3 Dec 2025	Peter CASSIDY	Other	461k	—	—	—	3Y notice