Companies / LKO

LAKES BLUE ENERGY NL

ASX:LKOEnergy
73.4M shares on issueASX (delayed) · as of 28 July 2026$0.47price · delayed$34.5Mmarket cap · indicative
C
Dilution grade

Runway under 2 quarters; share count grew 25% in 24 months; 1 cash raise in 24 months

Cash runway0.7 quarters of funding
Share-count growth (24m)25.0%
Raise cadence (24m)1 cash raise
Options & rights overhang5.4% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

LAKES BLUE ENERGY NL's ordinary share count grew 25.0% between March 2024 and April 2026, to 73M shares. The company raised capital once in that period, with total disclosed proceeds of A$5.8M from a transaction in September 2025. Options and rights on issue could convert into 4M new shares, equal to 5.4% of the current share count, with none currently in the money and the nearest expiry in August 2028. At the March 2026 quarter the company reported A$1.4M in available cash, representing about 0.7 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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5.4%
Max option dilution
0.0%
ITM option dilution
1
Raises · last 12 months
0.7 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 73.4M per ASX (delayed) (28 July 2026).
61.8M66.1M70.3MDec 24Sept 25July 26Cash raise · 11 Sept 2025

Cash runway

0.7 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$1.4M 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
1 Apr 20262A · quoted issueLKO : ORDINARY FULLY PAID73.4MAppendix 2A
24 Dec 20252A · quoted issueLKO : ORDINARY FULLY PAID73.3MAppendix 2A
22 Sept 20253G · unquotedLKO : ORDINARY FULLY PAID68.3MAppendix 3G
22 Sept 20252A · quoted issueLKO : ORDINARY FULLY PAID72.9MAppendix 2A
6 Aug 20252A · quoted issueLKO : ORDINARY FULLY PAID68.3MAppendix 2A
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 · 1 in the last 12 months

$5.8M
Capital raise
11 Sept 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

5.4%
Total overhang · of current shares
0.0%
In the money · at current price
4.0M
Potential new shares
Aug 2028
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
22 Dec 2025Nicholas MatherOther435k—$500k3Y notice
18 Sept 2025Nicholas MatherBuy1.1M750k$1.2M3Y notice
5 Aug 2025Richard AshOther93k1.5M—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

26 July 2026$PTrading Halt
9 July 2026Ceasing to be a substantial holder from NPM
2 July 2026$PWombat Gas Project - Commercial Update
1 July 2026Retirement of Roland Sleeman as Director and Chairman
8 June 2026$PLakes Advances Wombat-5 Testing
8 June 2026Legal Settlement Reached on Favourable Commercial Terms
27 May 2026Change in substantial holding from NPM
30 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
1 Apr 2026Application for quotation of securities - LKO
18 Mar 2026Lakes Blue Energy Exploration Update
18 Mar 2026$PWombat-5 - Production Testing Continuing
16 Mar 2026Half Year Accounts
8 Feb 2026Wombat-5 - Production Testing Continuing
30 Jan 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
20 Jan 2026$PWombat-5 Well, Gippsland Basin - Production Testing Update
20 Jan 2026Appointment of Michael McGowan as GM of Operations
13 Jan 2026Wombat-5 Well, Gippsland Basin - Production Testing Update
24 Dec 2025Change of Director's Interest Notice
24 Dec 2025Application for quotation of securities - LKO
25 Nov 2025Results of Annual General Meeting

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