Companies / KOB

KOBA RESOURCES LIMITED

ASX:KOBMaterials
285.7M shares on issueASX (delayed) · snapshot 11 Sept 2026440.7M fully diluted+54.3% if every option and right converts$0.036price · delayed$10.3Mmarket cap · indicative

Today’s holders own 64.8% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 80% in 24 months; 6 cash raises in 24 months; options/rights overhang 54% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway5.5 quarters of funding
Share-count growth (24m)80.2%
Raise cadence (24m)6 cash raises
Options & rights overhang54.3% of shares
In-the-money supply0.0% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

KOBA RESOURCES LIMITED's ordinary share count grew 80.2% between April 2024 and August 2026, to 286M shares. In the past 24 months, the company raised capital six times, with disclosed proceeds totalling A$8.7M. The latest raise was a cleansing prospectus for options in May 2026. Options and rights on issue represent 155M potential new shares, or 54.3% of the current share count, with the nearest expiry in February 2027. As of the June 2026 quarter, the company held A$2.8M in available cash, sufficient for approximately 5.5 quarters of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 7 Sept 2026
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54.3%
Options & rights overhang
0.0%
In-the-money supply
2
Raises · last 12 months
5.5 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 285.7M per ASX (delayed) (snapshot 11 Sept 2026).
150M200M250MDec 24Oct 25Sept 26Cash raise · 26 May 2026Cash raise · 7 Oct 2025Cash raise · 13 June 2025Cash raise · 10 June 2025Cash raise · 20 May 2025Cash raise · 16 May 2025285.7M

Cash runway

5.5 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Oct 2027 at the reported spend rate.
$2.8M 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: $3.2M cash at quarter end (item 4.6), 6.3 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
5 Aug 20262A · quoted issueKOB : ORDINARY FULLY PAID285.7MAppendix 2A
26 June 20263G · unquotedKOB : ORDINARY FULLY PAID285.7MAppendix 3G
2 Apr 20263H · cancellationKOB : ORDINARY FULLY PAID285.7MAppendix 3H
18 Dec 20253G · unquotedKOB : ORDINARY FULLY PAID285.7MAppendix 3G
9 Dec 20253G · unquotedKOB : ORDINARY FULLY PAID285.7MAppendix 3G
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32 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

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

every 2.5 monthsaverage gap between raises
3.6 monthssince the most recent
16 May 2025 – 26 May 2026first to most recent in this window
—
Cleansing Prospectus (Options)
26 May 2026
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6 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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9 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.

About 91% of the 15% placement capacity left — about 9% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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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

54.3%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
155.0M
Potential new shares
Feb 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered133.0M · 46.6% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 13.5M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered22.0M · 7.7% 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: 119.5M priced, 35.5M 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
77.5M155.0M$0.036 now0.25× today ($0.009) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.018) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.027) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.036) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.045) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.054) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.072) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.108) — 90.5M of the priced supply in the money, 31.7% of shares on issue5× today ($0.180) — 118.8M of the priced supply in the money, 41.6% of shares on issue10× today ($0.360) — 119.5M of the priced supply in the money, 41.8% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.036 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 90.5M (31.7% 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.
  • 35.5M (22.9% 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
KOBAJOptionsPrice-triggered$0.226 Feb 2027750kFiling
KOBAHOptionsPrice-triggered$0.1411 Apr 202716.3MFiling
KOBABOptionsPrice-triggered—5 May 202713.5MFiling
KOBAKOptionsPrice-triggered$0.111 Dec 20271.5MFiling
KOBAGOptionsPrice-triggered$0.164 Apr 20285.6MFiling
KOBANOptionsPrice-triggered$0.08030 June 202880.8MFiling
KOBAOOptionsPrice-triggered$0.0808 Oct 20294.9MFiling
KOBAPOptionsPrice-triggered$0.108 Oct 20294.9MFiling
KOBAQOptionsPrice-triggered$0.128 Oct 20294.9MFiling
KOBACPerformance rightsCondition-triggered——5.5MFiling Meeting
KOBAEPerformance sharesCondition-triggered——16.5MFiling 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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11 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
7 Aug 2026Ben VallerineOther1.1M4.0M——3Y notice
7 Aug 2026Michael HaynesOther2.5M4.5M480k—3Y notice
2 Apr 2026Ben VallerineOther placement1.1M256k4.0M—3Y notice
2 Apr 2026Michael HaynesOther placement2.5M625k480k—3Y notice
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9 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

25 Aug 2026Soil Sampling Program Underway at Tin-Tungsten Prospects
11 Aug 2026Change of Director's Interest Notices
5 Aug 2026Quotation of Options, Top 20 and Distribution Schedule
5 Aug 2026Application for quotation of securities - KOB
29 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
22 July 2026$PExtremely High Grades from Initial Tungsten Sampling
5 July 2026Maiden 3,000m Drill Program Underway at the Mt Garnet
30 June 2026$PStrong IP Anomalies Highlight High-Priority Drill Targets
26 June 2026Change of Director's Interest Notices
26 June 2026Notification regarding unquoted securities - KOB
25 June 2026Results of Meeting
27 May 2026Proposed issue of securities - KOB
27 May 2026Cleansing Prospectus
27 May 2026Proposed issue of securities - KOB
27 May 2026Notice of General Meeting/Proxy Form
5 May 2026RIU Sydney Resources Round-up Conference Presentation
4 May 2026$PMultiple High-Grade Drill Intercepts at Everest
30 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
12 Apr 2026Drilling Underway at the High-Grade Everest Prospect
2 Apr 2026Change of Director's Interest Notices

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