LIBERTY METALS LTD
ASX:LIBMaterialsToday’s holders own 60.5% of what they think they own, once every option and right converts.
Share count grew 70% in 24 months; options/rights overhang 65% of shares; 2 cash raises in 24 months; since relisting as LIB; prior history under TKL not included
LIBERTY METALS LTD was renamed from TKL in October 2025, and the following figures cover the period since that rename. The company's ordinary share count grew 69.5% between October 2025 and August 2026, reaching 10.14B shares. It raised capital twice in this period, for total disclosed proceeds of A$7.6M, most recently a A$5.0M placement in August 2026. Options and rights on issue could convert into 6.62B new shares, equal to 65.3% of the current share count, with the nearest expiry in December 2026. At the June 2026 quarter the company reported A$5.8M in available cash, covering 10.9 quarters of funding at its recent spending rate. No proposed securities issues are pending.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 19 Aug 2026 | 2A · quoted issue | LIB : ORDINARY FULLY PAID | 10.14B | Appendix 2A |
| 4 Aug 2026 | 3H · cancellation | LIB : ORDINARY FULLY PAID | 8.20B | Appendix 3H |
| 5 June 2026 | 2A · quoted issue | LIB : ORDINARY FULLY PAID | 8.20B | Appendix 2A |
| 3 June 2026 | 3G · unquoted | ORDINARY FULLY PAID | 8.20B | Appendix 3G |
| 17 Dec 2025 | 2A · quoted issue | LIB : ORDINARY FULLY PAID | 8.20B | Appendix 2A |
Capital raises
2 cash raises in the last 24 months · 2 in the last 12 months · counted since relisting as LIB (13 Oct 2025); prior history under TKL is not included
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.
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.
Pending proposed issues
Options & convertible securities
- Price-triggered2.98B · 29.4% of sharesOptions and warrants — they convert when the share price clears their exercise price.At least 2.22B of it states no exercise price — that much cannot be called in or out of the money.
- Condition-triggered3.63B · 35.8% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 762.8M priced, 5.86B 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.
An exercise price is on record for only 11.5% 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 $0.004 today. No more priced supply until 1.5× today’s price, which takes it to 722.8M (7.1% 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.
- 5.86B (88.5% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| LIBAW | Options | Price-triggered | $0.005 | 15 Dec 2026 | 712.8M | Filing |
| LIBAY | Options | Price-triggered | $0.010 | 9 Dec 2027 | 20.0M | Filing |
| LIBAC | Options | Price-triggered | $0.005 | 12 Dec 2028 | 10.0M | Filing |
| LIBAD | Options | Price-triggered | $0.010 | 12 Dec 2028 | 10.0M | Filing |
| LIBAE | Options | Price-triggered | $0.015 | 12 Dec 2028 | 10.0M | Filing |
| LIBO | Options | Price-triggered | — | 17 Oct 2029 | 2.22B | Filing |
| LIBAX | Performance rights | Condition-triggered | — | — | 3.63B | 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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 18 Dec 2025 | Jay Stephenson | Buy on-market | 3.3M | — | 700.0M | — | 3Y notice |
| 18 Dec 2025 | Nicholas Katris | Buy on-market | 7.7M | — | 700.0M | — | 3Y notice |
| 18 Dec 2025 | Timothy Morrison | Buy on-market | 6.7M | — | 700.0M | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.