Companies / KAU

KAISER REEF LIMITED

ASX:KAUMaterials
605.3M shares on issueASX (delayed) · as of 28 July 2026$0.18price · delayed$112.0Mmarket cap · indicative
F
Dilution grade

Runway under 2 quarters; share count grew 196% in 24 months; options/rights overhang 15% of shares

Cash runway1.4 quarters of funding
Share-count growth (24m)196.1%
Raise cadence (24m)1 cash raise
Options & rights overhang15.3% of shares
In-the-money supply4.8% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

KAISER REEF LIMITED's ordinary share count grew 196.1% between July 2024 and March 2026, to 605M shares. The company raised capital once in that period for total proceeds of A$1.4M, with the most recent raise dated January 2025 for A$1.4M. Options and rights on issue could convert into 93M new shares, equal to 15.3% of the current share count, of which 5% are in the money at the current share price; the nearest expiry is December 2026. At the March 2026 quarter the company reported A$51.7M in available cash, about 1.4 quarters of funding at its recent spending 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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15.3%
Max option dilution
4.8%
ITM option dilution
0
Raises · last 12 months
1.4 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 605.3M per ASX (delayed) (28 July 2026).
325.5M428.2M530.9MDec 24Sept 25July 26Cash raise · 24 Jan 2025

Cash runway

—
Cover not computed for the latest quarter.
$51.7M available cash at quarter ended 31 Mar 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 31 Mar 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityTotal on issue afterSource
16 Mar 20262A · quoted issueKAU : ORDINARY FULLY PAID605.3MAppendix 2A
24 Feb 20262A · quoted issueKAU : ORDINARY FULLY PAID599.4MAppendix 2A
12 Jan 20262A · quoted issueKAU : ORDINARY FULLY PAID596.4MAppendix 2A
8 Oct 20252A · quoted issueKAU : ORDINARY FULLY PAID593.9MAppendix 2A
7 Sept 20253H · cancellationKAU : ORDINARY FULLY PAID593.5MAppendix 3H
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 · 0 in the last 12 months

$1.4M
Capital raise
24 Jan 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

15.3%
Total overhang · of current shares
4.8%
In the money · at current price
92.7M
Potential new shares
Dec 2026
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
16 July 2026Bradley ValiukasBuy2.5M2.0M$117k3Y notice
13 July 2026Bradley ValiukasBuy1.7M200k$36k3Y notice
9 Jan 2026Bradley ValiukasBuy625k2.0M—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

28 July 2026Infill Soil Survey Results Reinforce Targets - Updated
27 July 2026$PInfill Soil Survey Results Reinforce Targets
26 July 2026Company Presentation
17 July 2026Change of Director's Interest Notice
14 July 2026Change of Director's Interest Notice
12 July 2026$PProduction and Cash Balance Update
30 June 2026Appointment of Exploration Manager at Henty
23 June 2026$PSurface Drilling Campaign Commenced at Maldon
17 May 2026$PUnion Hill Decline Refurb Underway-Maldon Exploration Update
30 Apr 2026Maldon Processing Update - 2nd Shift Commenced
29 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
23 Apr 2026Appointment of Chief Financial Officer
21 Apr 2026$PMaldon Exploration Update
9 Apr 2026$PProduction and Cash Balance Update
17 Mar 2026Proposed issue of securities - KAU
17 Mar 2026$PManaging Director Contract Renewed
16 Mar 2026Notice under s708A
16 Mar 2026Application for quotation of securities - KAU
13 Mar 2026Half Year Accounts
1 Mar 2026$PKaiser Fully Leveraged to Spot Gold Prices

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