MANHATTAN GOLD CORPORATION LIMITED
ASX:MHCEnergyToday’s holders own 83.6% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 293% in 24 months; 3 cash raises in 24 months
MANHATTAN GOLD CORPORATION LIMITED completed an approximately 1-for-20 share consolidation in December 2024. As of September 2026, its ordinary share count stands at 917M shares, based on the ASX market reading. The company conducted 3 capital raises in the past 24 months for total proceeds of A$9.7M, most recently a A$4.5M placement in September 2026. Options and rights on issue could convert into 180M new shares, representing 19.6% of the current share count, with none in the money; the nearest expiry is November 2026. Cash reserves provide under 2 quarters of funding at the recent spend rate. Three proposed securities issues (Appendix 3B) are pending, with the earliest expected date in November 2026.
Quick answers · 4
Is MHC raising capital?
Manhattan Gold Corporation has 3 proposed issues of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $4.5M on 15 Sept 2026.
How much placement capacity does MHC have left?
About 78% of the 15% placement capacity left, about 22% used in 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does MHC have?
In its quarterly cash report for the quarter ended 30 Sept 2026, Manhattan Gold Corporation reported $3.5M of cash and estimated 1.5 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do MHC's options expire?
Unexercised options and rights equal 19.6% of Manhattan Gold Corporation's shares on issue; the nearest expiry is Nov 2026.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 22 Sept 2026 | 2A · quoted issue | MHC : ORDINARY FULLY PAID | 865.7M | Appendix 2A |
| 22 Sept 2026 | 2A · quoted issue | MHC : ORDINARY FULLY PAID | 800.2M | Appendix 2A |
| 28 Aug 2026 | 2A · quoted issue | MHC : ORDINARY FULLY PAID | 693.0M | Appendix 2A |
| 28 Aug 2026 | 2A · quoted issue | MHC : ORDINARY FULLY PAID | 746.5M | Appendix 2A |
| 28 Aug 2026 | 3G · unquoted | MHC : ORDINARY FULLY PAID | 690.5M | 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 (865.7M) need not equal the current count above (917.0M).
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
3 cash raises in the last 24 months · 2 in the last 12 months
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.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
- Price-triggered52.1M · 5.7% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered128.0M · 14.0% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 52.1M priced, 128.0M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.
Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.
An exercise price is on record for only 28.9% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.016 today. No more priced supply until 3× today’s price, which takes it to 28.5M (3.1% 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.
- 128.0M (71.1% 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.
- 875k more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| MHCAD | Options | Price-triggered | $0.30 | 28 Nov 2026 | 875k | Filing |
| MHCAR | Options | Price-triggered | $0.040 | 27 Nov 2027 | 20.0M | Filing |
| MHCAG | Options | Price-triggered | $0.040 | 29 May 2028 | 2.5M | Filing |
| MHCAI | Options | Price-triggered | $0.040 | 22 July 2028 | 500k | Filing |
| MHCAJ | Options | Price-triggered | $0.060 | 22 July 2028 | 500k | Filing |
| MHCAF | Options | Price-triggered | $0.040 | 24 July 2028 | 2.0M | Filing |
| MHCAK | Options | Price-triggered | $0.040 | 28 Aug 2028 | 3.5M | Filing |
| MHCAL | Options | Price-triggered | $0.060 | 28 Aug 2028 | 3.5M | Filing |
| MHCAH | Options | Price-triggered | $0.048 | 15 July 2029 | 18.8M | Filing |
| MHCAE | Performance rights | Condition-triggered | — | — | 128.0M | Filing Meeting |
“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. For what expires soon across other listed companies, see the options expiry calendar.
A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 28 Aug 2026 | Gavin Rezos | Buy incentive | 26.2M | — | — | — | 3Y notice |
| 22 July 2026 | Danielle Kelly | Other placement | 825k | — | — | $20k | 3Y notice |
| 22 July 2026 | Gavin Rezos | Other placement | 25.0M | — | — | $600k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.