Companies / MEU

MARMOTA LIMITED

ASX:MEUEnergy
1.30B shares on issueASX (delayed) · snapshot 11 Sept 20261.30B fully diluted+0.2% if every option and right converts$0.087price · delayed$112.7Mmarket cap · indicative

Today’s holders own 99.8% of what they think they own, once every option and right converts.

Low
Dilution risk

Share count grew 19% in 24 months; 2 cash raises in 24 months; 0% of shares in the money

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway10.1 quarters of funding
Share-count growth (24m)19.2%
Raise cadence (24m)2 cash raises
Options & rights overhang0.2% of shares
In-the-money supply0.2% of shares
Pending proposed issuesnone

MARMOTA LIMITED's ordinary share count grew 19.2% between June 2024 and May 2026, reaching 1.30B shares. In the past 24 months, the company raised capital twice for total disclosed proceeds of A$20.0M, with the most recent raise being a A$15.0M placement in February 2026. Options and rights on issue could convert into 3M new shares, representing 0.2% of the current share count, with the nearest expiry in November 2026. As of June 2026, MARMOTA LIMITED held A$13.6M in available cash, which would cover 10.1 quarters at its recent spending rate. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 9 Sept 2026
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0.2%
Options & rights overhang
0.2%
In-the-money supply
1
Raises · last 12 months
10.1 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 1.30B per ASX (delayed) (snapshot 11 Sept 2026).
1.1B1.2B1.3BDec 24Oct 25Sept 26Cash raise · 9 Feb 2026Cash raise · 29 Jan 20251.30B

Cash runway

10.1 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Dec 2028 at the reported spend rate.
$13.6M 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: $14.7M cash at quarter end (item 4.6). Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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11 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
13 May 20262A · quoted issueMEU : ORDINARY FULLY PAID1.30BAppendix 2A
18 Feb 20262A · quoted issueMEU : ORDINARY FULLY PAID1.29BAppendix 2A
26 Nov 20252A · quoted issueMEU : ORDINARY FULLY PAID1.18BAppendix 2A
4 Sept 20253H · cancellationMEU : ORDINARY FULLY PAID1.18BAppendix 3H
7 Feb 20252A · quoted issueMEU : ORDINARY FULLY PAID1.09BAppendix 2A
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9 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 12.4 monthsaverage gap between raises
7.1 monthssince the most recent
29 Jan 2025 – 9 Feb 2026first to most recent in this window
$15.0M
Placement
9 Feb 2026
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3 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.

3.0M of option supply could convert within 12 months — 0.2% of shares on issue
3.0M in the money, expiring in the window
Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.
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1 dated event 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 38% of the 15% placement capacity left — about 62% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). 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

0.2%
Options & rights overhang · of current shares
0.2%
In-the-money supply · at current price
3.0M
Potential new shares
Nov 2026
Nearest expiry
What a price move would switch on
1.5M3.0M$0.087 now0.25× today ($0.022) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.043) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.065) — 3.0M of the priced supply in the money, 0.2% of shares on issue1× today ($0.087) — 3.0M of the priced supply in the money, 0.2% of shares on issue1.25× today ($0.109) — 3.0M of the priced supply in the money, 0.2% of shares on issue1.5× today ($0.131) — 3.0M of the priced supply in the money, 0.2% of shares on issue2× today ($0.174) — 3.0M of the priced supply in the money, 0.2% of shares on issue3× today ($0.261) — 3.0M of the priced supply in the money, 0.2% of shares on issue5× today ($0.435) — 3.0M of the priced supply in the money, 0.2% of shares on issue10× today ($0.870) — 3.0M of the priced supply in the money, 0.2% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.087 today, 3.0M securities are in the money (0.2% of shares on issue). No price up to ten times today’s switches on any more priced supply.

  • 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
MEUAEOptionsPrice-triggered$0.05524 Nov 20263.0MFiling

“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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1 option line 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
24 Nov 2025Aaron BrownOther incentive1.0M——$45k3Y notice
24 Nov 2025Neville BerginOther incentive1.0M——$45k3Y notice
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2 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

2 Sept 2026$PGreenewood gold discovery - program expanded to 31000m
3 Aug 2026$PGreenewood gold discovery - program expanded to 26,000m
29 July 2026$PQuarterly Activities and Cashflow Report
19 July 2026$PGreenewood gold hits 20,000 new metres and growing
27 May 2026$POutstanding assays reveal rich gold zones at Greenewood
13 May 2026Application for quotation of securities - MEU
29 Apr 2026$PQuarterly Activities and Cashflow Report
20 Apr 2026$PGreenewood gold - Drilling has commenced
13 Apr 2026$PGreenewood gold discovery targets massive extension
25 Mar 2026$PUranium Update - Target 4 program design completed
10 Mar 2026Half Year Financial Report Dec 2025
25 Feb 2026$PBonanza gold/widths extend spectacular Greenewood discovery
19 Feb 2026Change in substantial holding
18 Feb 2026Cleansing Notice
18 Feb 2026Application for quotation of securities - MEU
11 Feb 2026Proposed issue of securities - MEU
11 Feb 2026$PMarmota raises $15 million in highly successful placement
9 Feb 2026$PTrading Halt
9 Feb 2026Resources Rising Stars Presentation
28 Jan 2026$PQuarterly Activities and Cashflow Report

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