Companies / LRM

LION ROCK MINERALS LTD

ASX:LRMMaterials
3.66B shares on issueASX (delayed) · snapshot 11 Sept 20264.15B fully diluted+13.3% if every option and right converts$0.021price · delayed$76.9Mmarket cap · indicative

Today’s holders own 88.3% of what they think they own, once every option and right converts.

Moderate
Dilution riskprovisional — limited history

Runway 2–4 quarters; share count grew 20% in 24 months; 2 cash raises in 24 months; since relisting as LRM; prior history under PUA not included

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway2.3 quarters of funding
Share-count growth (24m)19.7%since relisting as LRM; prior history under PUA not included
Raise cadence (24m)2 cash raisessince relisting as LRM; prior history under PUA not included
Options & rights overhang13.3% of shares
In-the-money supply5.9% of shares
Pending proposed issuesnone

LION ROCK MINERALS LTD's ordinary share count grew 19.7% between October 2025 and June 2026, to 3.66B shares. The company has raised capital twice since renaming, with total disclosed proceeds of A$10.6M, most recently a A$2.0M placement in May 2026. Options and rights on issue could convert into 487M new shares, equal to 13.3% of the current share count, of which 6% are in the money at the current share price; the nearest expiry falls in September 2027. At the June 2026 quarter the company reported A$5.1M in available cash, about 2.3 quarters of funding at its recent spending rate. There are no proposed securities issues pending.

AI-generated summary of this page's cited filings · updated 9 Sept 2026
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13.3%
Options & rights overhang
5.9%
In-the-money supply
2
Raises · last 12 months
2.3 qtrs
Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Shown since relisting as LRM (11 Aug 2025); prior history under PUA is not included. Latest count 3.66B per ASX (delayed) (snapshot 11 Sept 2026).
3.00B3.25B3.50BAug 25Feb 26Sept 26Cash raise · 18 May 2026Cash raise · 10 Oct 20253.66B

Cash runway

2.3 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about Jan 2027 at the reported spend rate.
$5.1M 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: $6.9M cash at quarter end (item 4.6), 3.2 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)

DateFormSecurityOn issue, per this filingSource
11 June 20262A · quoted issueLRM : ORDINARY FULLY PAID3.66BAppendix 2A
20 May 20263G · unquotedLRM : ORDINARY FULLY PAID3.56BAppendix 3G
20 May 20263G · unquotedLRM : ORDINARY FULLY PAID3.56BAppendix 3G
2 Jan 20262A · quoted issueLRM : ORDINARY FULLY PAID3.56BAppendix 2A
15 Oct 20252A · quoted issueLRM : ORDINARY FULLY PAID3.06BAppendix 2A
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6 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 · 2 in the last 12 months · counted since relisting as LRM (11 Aug 2025); prior history under PUA is not included

every 7.2 monthsaverage gap between raises
3.8 monthssince the most recent
10 Oct 2025 – 18 May 2026first to most recent in this window
$2.0M
Placement
18 May 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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6 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 65% of the 15% placement capacity left — about 35% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. 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

13.3%
Options & rights overhang · of current shares
5.9%
In-the-money supply · at current price
486.6M
Potential new shares
Sept 2027
Nearest expiry
What a price move would switch on
243.3M486.6M$0.021 now0.25× today ($0.005) — 90.0M of the priced supply in the money, 2.5% of shares on issue0.5× today ($0.011) — 90.0M of the priced supply in the money, 2.5% of shares on issue0.75× today ($0.016) — 90.0M of the priced supply in the money, 2.5% of shares on issue1× today ($0.021) — 216.6M of the priced supply in the money, 5.9% of shares on issue1.25× today ($0.026) — 216.6M of the priced supply in the money, 5.9% of shares on issue1.5× today ($0.032) — 351.6M of the priced supply in the money, 9.6% of shares on issue2× today ($0.042) — 486.6M of the priced supply in the money, 13.3% of shares on issue3× today ($0.063) — 486.6M of the priced supply in the money, 13.3% of shares on issue5× today ($0.105) — 486.6M of the priced supply in the money, 13.3% of shares on issue10× today ($0.210) — 486.6M of the priced supply in the money, 13.3% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.021 today, 216.6M securities are in the money (5.9% of shares on issue). No more priced supply until 1.5× today’s price, which takes it to 351.6M (9.6% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
LRMAMOptionsPrice-triggered$0.00525 Sept 202790.0MFiling
LRMAOOptionsPrice-triggered$0.01710 Feb 202840.0MFiling
LRMAPOptionsPrice-triggered$0.02010 Feb 202840.0MFiling
LRMAAOptionsPrice-triggered$0.0179 May 202846.6MFiling
LRMAQOptionsPrice-triggered$0.03021 May 2029135.0MFiling
LRMAROptionsPrice-triggered$0.04021 May 2029135.0MFiling

“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.

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6 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
11 June 2026David BrophyOther placement250k30.0M——3Y notice
11 June 2026Duncan CraibOther placement30.0M150.0M——3Y notice
2 Jan 2026Phillip GallagherOther118.7M———3Y notice
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3 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

1 Sept 2026$PHigh-Grade Rare Earths Discovery from Surface at Minta
31 Aug 2026Ceasing to be a substantial holder
25 Aug 2026$PResponse to ASX Price Query
28 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
19 July 2026$PDrilling Commences at Monazite-REE Rich Minta Est
12 July 2026$PMinta 1 Delivers Third High-Grade Rutile Discovery
1 July 2026$PHigh-Grade Rutile Mineralised Corridor Emerging
11 June 2026Change of Director's Interest Notices (x2)
11 June 2026Cleansing Notice
11 June 2026Application for quotation of securities - LRM
10 June 2026$PStrong Drilling Results Support Lion Rock's Strategy
26 May 2026Initial Director's Interest Notices (x2)
26 May 2026Final Director's Interest Notices (x2)
20 May 2026Notification regarding unquoted securities - LRM
20 May 2026Notification regarding unquoted securities - LRM
20 May 2026Proposed issue of securities - LRM
20 May 2026$PLion Rock Appoints Former Sierra Rutile Leadership Team
18 May 2026$PTrading Halt
27 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
17 Mar 2026$PInsitu Rutile up to 2.6% and Intercepts up to 4m at 1.8%

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