Companies / MAT

MATSA RESOURCES LIMITED

ASX:MATMaterials
971.2M shares on issueASX (delayed) · as of 28 July 2026$0.059price · delayed$59.2Mmarket cap · indicative
F
Dilution grade

Runway under 2 quarters; share count grew 76% in 24 months; 6 cash raises in 24 months

Cash runway-0.7 quarters of funding
Share-count growth (24m)76.4%
Raise cadence (24m)6 cash raises
Options & rights overhang22.7% of shares
In-the-money supply19.4% of shares
Pending proposed issuesnone

MATSA RESOURCES LIMITED's ordinary share count rose 76.4% between May 2024 and July 2026 to 971M shares. The company completed six capital raises in the 24-month window for total disclosed proceeds of A$25.8M, most recently a Placement that raised A$10.0M in September 2025. Options and rights could convert into 220M new shares, equal to 22.7% of the current share count, of which 19% are in the money; the nearest expiry is September 2027. At the March 2026 quarter the company reported A$24.2M in available cash, showing cover of -0.7 quarters at the 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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22.7%
Max option dilution
19.4%
ITM option dilution
2
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 971.2M per ASX (delayed) (28 July 2026).
717.5M810.6M903.8MDec 24Sept 25July 26Cash raise · 26 Sept 2025Cash raise · 26 Sept 2025Cash raise · 25 Feb 2025Cash raise · 27 Jan 2025

Cash runway

—
Cover not computed for the latest quarter.
$24.2M 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
3 July 20262A · quoted issueMAT : ORDINARY FULLY PAID971.2MAppendix 2A
22 Apr 20262A · quoted issueMAT : ORDINARY FULLY PAID971.2MAppendix 2A
22 Mar 20262A · quoted issueMAT : ORDINARY FULLY PAID971.1MAppendix 2A
11 Mar 20262A · quoted issueMAT : ORDINARY FULLY PAID971.0MAppendix 2A
11 Feb 20262A · quoted issueMAT : ORDINARY FULLY PAID957.5MAppendix 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

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

$10.0M
Placement
26 Sept 2025 COMPLETE
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

22.7%
Total overhang · of current shares
19.4%
In the money · at current price
220.5M
Potential new shares
Sept 2027
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
28 Jan 2026Pascal BlampainBuy333k—$23k3Y notice
20 Jan 2026Paul PoliSell333k—$23k3Y notice
14 Jan 2026Andrew ChapmanSell300k—$43k3Y 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

9 July 2026$PFortitude North Multiple High Grade Gold Results
3 July 2026Secondary Trading Notice
3 July 2026Application for quotation of securities - MAT
2 July 2026Final Director's Interest Notice
2 July 2026Initial Director's Interest Notice x 3
29 June 2026$PBoard and Management Team Changes to Focus on Lake Carey
25 June 2026$PNew Significant Gold Trend Discovered AngloGold Drilling
17 June 2026$PAngloGold Pays $1.65M Option Fee Lake Carey Gold Project
28 May 2026$PDevon Gold Mine Campaign 3 Processing Commences
28 May 2026Amendment to $17.5M Facility Agreement
5 May 2026RIU Sydney Resources Roundup Presentation
30 Apr 2026$P31 March 2026 Quarterly Report
22 Apr 2026Secondary Trading Notice
22 Apr 2026Application for quotation of securities - MAT
22 Mar 2026SecondaryTrading Notice
22 Mar 2026Application for quotation of securities - MAT
17 Mar 2026$PResponse to Media Article
17 Mar 2026$PTrading Halt
17 Mar 2026$PPause in Trading
16 Mar 2026Half Year Accounts

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