LINQ MINERALS LIMITED

ASX:LNQMaterials

205.1M shares on issueASX (delayed) · snapshot 11 Sept 2026240.3M fully diluted+17.2% if every option and right converts$0.42price · delayed$86.1Mmarket cap · indicative

Today’s holders own 85.3% of what they think they own, once every option and right converts.

Moderate

Dilution riskprovisional — limited history

Share count grew 17% in 24 months; runway 4–8 quarters; 2 cash raises in 24 months

Absolute levels — not a ranking against other companies.

Cash runway4.0 quarters of funding

Share-count growth (24m)16.7%

Raise cadence (24m)2 cash raises

Options & rights overhang17.2% of shares

In-the-money supply0.0% of shares

Pending proposed issuesnone

LINQ MINERALS LIMITED had 205M shares outstanding as of April 2026. The company raised capital twice in the past 24 months, for a total of A$25.4M, with the most recent being a A$15.4M placement in January 2026. Options on issue represent a potential 35M new shares, or 17.2% of the current share count, with no options currently in the money; these expire in April 2028. As of the June 2026 quarter, LINQ MINERALS LIMITED reported A$13.5M in cash, sufficient to cover 4.0 quarters of operations. No proposed securities issues are currently pending. The company has a short disclosure history as it listed in June 2025, and the share count movement over the past 24 months is not stated.

AI-generated summary of this page's cited filings · updated 10 Sept 2026

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17.2%

Options & rights overhang

0.0%

In-the-money supply

Raises · last 12 months

4.0 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 205.1M per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

4.0 qtrs

More than four quarters of funding at the recent spend rate.

Funds operations to about June 2027 at the reported spend rate.

$13.5M 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: $16.2M cash at quarter end (item 4.6), 4.8 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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4 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)

Date	Form	Security	On issue, per this filing	Source
8 May 2026	3G · unquoted	LNQ : ORDINARY FULLY PAID	92.3M	Appendix 3G
8 May 2026	3G · unquoted	LNQ : ORDINARY FULLY PAID	92.3M	Appendix 3G
7 Apr 2026	2A · quoted issue	LNQ : ORDINARY FULLY PAID	92.3M	Appendix 2A
7 Apr 2026	3G · unquoted	ORDINARY FULLY PAID	90.7M	Appendix 3G
2 Apr 2026	3G · unquoted	LNQ : ORDINARY FULLY PAID	90.7M	Appendix 3G

Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (92.3M) need not equal the current count above (205.1M).

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8 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

2 cash raises in the last 24 months · 1 in the last 12 months

every 6.9 monthsaverage gap between raises

7.7 monthssince the most recent

25 June 2025 – 21 Jan 2026first to most recent in this window

$15.4M

Placement

21 Jan 2026

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2 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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3 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.

No estimate — the only Appendix 3B in the window claiming the 15% capacity states more than the whole allowance, so it cannot be counted.

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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

17.2%

Options & rights overhang · of current shares

0.0%

In-the-money supply · at current price

35.2M

Potential new shares

Apr 2028

Nearest expiry

What a price move would switch on

At $0.42 today, 0 securities are in the money (0.0% of shares on issue). At double today’s price it is 18.3M (8.9% 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.
16.9M (47.9% 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.

Code	Security	Type	Exercise price	Expiry	On issue	Source
LNQAE	Options	Price-triggered	$0.78	1 Apr 2028	14.0M	Filing
LNQAC	Options	Price-triggered	—	27 June 2028	16.9M	Filing
—	Options	Price-triggered	$0.73	11 Feb 2029	4.3M	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.

1 class ceased in the last 12 months and is not counted above

The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.

LNQADPrice-triggered1.3M securities → 01 Feb 2026 Appendix 2A

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3 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

Date	Director	Type	Shares	Options	Other	Value	Source
8 May 2026	Evan Kirby	Other	—	398k	—	—	3Y notice
8 May 2026	Geoffrey Jones	Other	—	398k	—	—	3Y notice
8 May 2026	John Holliday	Other	—	398k	—	—	3Y notice
8 May 2026	Mr Clive Donner	Other	340k	1.7M	—	—	3Y notice
8 May 2026	Mr Harrison Donner	Other	303k	1.5M	—	—	3Y notice