LAKES BLUE ENERGY NL
ASX:LKOEnergyToday’s holders own 80.1% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 63% in 24 months; 2 cash raises in 24 months
LAKES BLUE ENERGY NL's ordinary share count grew 63.0% between March 2024 and September 2026, its latest share-count filing, to 96M shares. The company raised capital twice in the past 24 months for total disclosed proceeds of A$12.5M, most recently a Placement and Entitlement Offer in July 2026 raising A$6.7M. Options and rights on issue could convert into 24M new shares, representing an overhang of 24.9% of the current share count, with none in the money; the nearest expiry is August 2028. The company has under 2 quarters of funding at the recent spend rate. No proposed securities issues are pending.
Quick answers · 5
When did LKO last raise capital?
The last capital raise in Lakes Blue Energy's filings is Placement and Entitlement Offer of $6.7M announced 29 July 2026, one of 2 cash raises in 24 months.
How much placement capacity does LKO have left?
Under 1% of the 15% placement capacity left, about 99% used in 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does LKO have?
In its quarterly cash report for the quarter ended 30 June 2026, Lakes Blue Energy reported $504k of cash and estimated 0.1 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do LKO's options expire?
Unexercised options and rights equal 24.9% of Lakes Blue Energy's shares on issue; the nearest expiry is Aug 2028.
How much has LKO's share count grown?
Lakes Blue Energy has 95.8M shares on issue as at 28 Oct 2026, up 63.0% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 29 Sept 2026 | 2A · quoted issue | LKO : ORDINARY FULLY PAID | 95.8M | Appendix 2A |
| 29 Sept 2026 | 3G · unquoted | ORDINARY FULLY PAID | 93.3M | Appendix 3G |
| 29 Sept 2026 | 3G · unquoted | ORDINARY FULLY PAID | 93.3M | Appendix 3G |
| 31 Aug 2026 | 2A · quoted issue | LKO : ORDINARY FULLY PAID | 93.3M | Appendix 2A |
| 31 Aug 2026 | 3G · unquoted | ORDINARY FULLY PAID | 92.8M | Appendix 3G |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
2 cash raises in the last 24 months · 1 in the last 12 months
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 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
At $0.28 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.5× today’s price, which takes it to 19.9M (20.8% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| LKOAP | Options | Price-triggered | $1.50 | 5 Aug 2028 | 4.0M | Filing |
| LKOAR | Options | Price-triggered | $0.36 | 21 Aug 2031 | 19.9M | 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. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 29 Sept 2026 | Nicholas Mather | Other placement | 333k | 333k | — | $100k | 3Y notice |
| 29 Sept 2026 | Richard Ash | Other placement | 100k | 100k | — | $30k | 3Y notice |
| 27 Aug 2026 | Hugh Robertson | Other entitlement/SPP | 201k | 201k | — | $124k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.