Companies / JAL

JAMESON RESOURCES LIMITED

ASX:JALMaterials
944.6M shares on issueASX (delayed) · snapshot 11 Sept 2026976.7M fully diluted+3.4% if every option and right converts$0.038price · delayed$35.9Mmarket cap · indicative

Today’s holders own 96.7% of what they think they own, once every option and right converts.

High
Dilution risk

Runway under 2 quarters; share count grew 37% in 24 months; 5 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.1 quarters of funding
Share-count growth (24m)37.3%measured to the latest Appendix 2A, not to the share count above
Raise cadence (24m)5 cash raises
Options & rights overhang3.4% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesopen proposed issue (Appendix 3B)

JAMESON RESOURCES LIMITED has 945M shares outstanding as of September 2026. Over the past 24 months, the company completed five capital raises totalling A$13.7M, with the most recent being an Accelerated non-renounceable entitlement offer (ANREO) and Placement in September 2026 that raised A$5.3M. Approximately 32M options are outstanding, representing 3.4% of current shares, with the nearest expiry in December 2026. At the June 2026 quarter, the company reported A$3.4M in cash reserves, sufficient for approximately 1.1 quarters of operations. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in September 2026. The share count history is based on ASX market data, and the growth rate over the stated window is not provided.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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3.4%
Options & rights overhang
—
In-the-money supply · most strikes not on record
4
Raises · last 12 months
1.1 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 944.6M per ASX (delayed) (snapshot 11 Sept 2026).
600M700M800M900MDec 24Oct 25Sept 26Cash raise · 1 Sept 2026Cash raise · 8 Apr 2026Cash raise · 11 Dec 2025Cash raise · 28 Nov 2025Cash raise · 21 May 2025944.6M

Cash runway

1.1 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about Sept 2026 — that date has passed, and no later report is on record.
$3.3M 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: $647k cash at quarter end (item 4.6), 0.2 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.
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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
10 Sept 20262A · quoted issueJAL : ORDINARY FULLY PAID838.5MAppendix 2A
10 Sept 20263G · unquotedJAL : ORDINARY FULLY PAID793.1MAppendix 3G
8 Sept 20262A · quoted issueJAL : ORDINARY FULLY PAID899.2MAppendix 2A
8 Sept 20262A · quoted issueJAL : ORDINARY FULLY PAID838.5MAppendix 2A
13 July 20262A · quoted issueJAL : ORDINARY FULLY PAID793.1MAppendix 2A

Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (838.5M) need not equal the current count above (944.6M).

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22 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

5 cash raises in the last 24 months · 4 in the last 12 months

every 3.8 monthsaverage gap between raises
0.4 monthssince the most recent
21 May 2025 – 1 Sept 2026first to most recent in this window
$5.3M
Accelerated non-renounceable entitlement offer (ANREO) and Placement
1 Sept 2026 ACTIVE
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5 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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Retail offer

An offer existing holders can take part in — the one structural advantage retail has in a raise. Dated recently and not yet recorded as complete.

Entitlement offer
dated 1 Sept 2026 · 11 days ago
Accelerated non-renounceable entitlement offer (ANREO) and Placement

Closing dates are not in the filings this site holds. Check the company's own announcement below before acting on this.

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Offer terms
The offer price, and how it compares with the last traded price.
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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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6 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.
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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

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.
Paid plan
1 pending issue on record — Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

3.4%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
32.2M
Potential new shares
Dec 2026
Nearest expiry
What a price move would switch on
16.1M32.2M$0.038 now0.25× today ($0.009) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.019) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.028) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.038) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.048) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.057) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.076) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.114) — 12.2M of the priced supply in the money, 1.3% of shares on issue5× today ($0.190) — 15.3M of the priced supply in the money, 1.6% of shares on issue10× today ($0.380) — 15.3M of the priced supply in the money, 1.6% 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 47.6% 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 $0.038 today. No more priced supply until 3× today’s price, which takes it to 12.2M (1.3% 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.
  • 16.9M (52.4% 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
JALAVOptionsPrice-triggered$0.1031 Dec 20261.5MFiling
JALAWOptionsPrice-triggered$0.1531 Dec 20272.0MFiling
JALADOptionsPrice-triggered$0.1531 Dec 20281.1MFiling
JALAEOptionsPrice-triggered$0.08317 Apr 202910.7MFiling
—OptionsPrice-triggered—10 Sept 202916.9MFiling

“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.

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5 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
14 July 2026MICHAEL JOHNNY MCDONALDOther placement455k——$25k3Y notice
10 July 2026ADRIAN LAWRENCE STEVEN VAN BARNEVELDOther placement182k——$10k3Y notice
10 July 2026MICHAEL JOHN GRAYOther placement4.6M4.5M—$60k3Y notice
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11 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

10 Sept 2026Placement Cleansing notice
10 Sept 2026Notification regarding unquoted securities - JAL
10 Sept 2026Update - Application for quotation of securities - JAL
8 Sept 2026Update - Proposed issue of securities - JAL
8 Sept 2026Application for quotation of securities - JAL
8 Sept 2026Application for quotation of securities - JAL
8 Sept 2026$PRetail Entitlement Offer Opens & Offer documents dispatched
4 Sept 2026Proposed issue of securities - JAL
4 Sept 2026$PInstitutional Entitlement Offer complete
2 Sept 2026$PANREO Cleansing Notice
1 Sept 2026Proposed issue of securities - JAL
1 Sept 2026Proposed issue of securities - JAL
1 Sept 2026$PANREO Investor Presentation
1 Sept 2026$PANREO A$5m raise for Crown Mountain approvals
1 Sept 2026$PTrading Halt
5 Aug 2026$PInvestor Presentation
31 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
16 July 2026Change of Director's Interest Notice - Michael McDonald
16 July 2026Change of Director's Interest Notice - Steve van Barneveld
16 July 2026Change of Director's Interest Notice - Michael Gray

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