MINERAL RESOURCES LIMITED
ASX:MINMaterialsToday’s holders own 98.1% of what they think they own, once every option and right converts.
2 cash raises in 24 months; 0% of shares in the money
MINERAL RESOURCES LIMITED's ordinary share count grew 1.1% between July 2024 and September 2026, its latest share-count filing, to 199M shares. The company raised capital twice in that period for total disclosed proceeds of A$2.0B, most recently a A$1.3B Senior Unsecured Notes Offering in April 2026. Options and rights on issue could convert into 4M new shares, equal to 1.9% of the current share count, with none in the money at the current share price; the nearest expiry falls in June 2031. The latest cash report is a half-year/annual report rather than a quarterly report, so no funding-runway figure is disclosed on that basis. No proposed securities issues are currently pending.
Quick answers · 4
When did MIN last raise capital?
The last capital raise in Mineral Resources's filings is Senior Unsecured Notes Offering of $1.30B announced 21 Apr 2026, one of 2 cash raises in 24 months.
How much placement capacity does MIN have left?
None of the 15% placement capacity counted as used in the last 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.
When do MIN's options expire?
Unexercised options and rights equal 1.9% of Mineral Resources's shares on issue; the nearest expiry is June 2031.
How much has MIN's share count grown?
Mineral Resources has 198.6M shares on issue as at 28 Oct 2026, up 1.1% over 24 months according to its Appendix 2A filings.
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 |
|---|---|---|---|---|
| 23 Oct 2026 | 3G · unquoted | MIN : ORDINARY FULLY PAID | 198.6M | Appendix 3G |
| 19 Oct 2026 | 3H · cancellation | MIN : ORDINARY FULLY PAID | 198.6M | Appendix 3H |
| 14 Oct 2026 | 3G · unquoted | ORDINARY FULLY PAID | 198.6M | Appendix 3G |
| 14 Oct 2026 | 3G · unquoted | ORDINARY FULLY PAID | 198.6M | Appendix 3G |
| 14 Oct 2026 | 3H · cancellation | ORDINARY FULLY PAID | 198.6M | Appendix 3H |
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
2 cash raises in the last 24 months · 1 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-triggered780k · 0.4% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered3.1M · 1.6% 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: 780k priced (of which 780k in the money), 3.1M 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.
At $45.30 today, 780k securities are in the money (0.4% of shares on issue) — a floor, because an exercise price is on record for only 20.2% of this supply. 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.
- 3.1M (79.8% 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 |
|---|---|---|---|---|---|---|
| MINAA | Options | Price-triggered | $25.40 | 30 June 2031 | 780k | Filing |
| MINAB | Rights | Condition-triggered | — | — | 3.1M | Filing Meeting |
54k of the 3.1M granted 14 Oct 2026: conditions on continued service. Terms 2k of the 3.1M granted 8 Oct 2026: conditions on continued service. Terms | ||||||
“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 line under a class is a grant of rights into it, as read from the company’s own filings: its size, any share-price or market-cap hurdles, and the other kinds of condition it carries. A grant is often only part of the class, so its terms say nothing about the rest. Whether a hurdle has been met is not shown.
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 |
|---|---|---|---|---|---|---|---|
| 1 Oct 2026 | Colin Moorhead | Buy incentive | 587 | — | — | $31k | 3Y notice |
| 1 Oct 2026 | Colleen Hayward | Buy incentive | 527 | — | — | $28k | 3Y notice |
| 1 Oct 2026 | Lawrie Tremaine | Buy incentive | 618 | — | — | $32k | 3Y notice |
| 1 Oct 2026 | Malcolm Bundey | Buy incentive | 2k | 780k | — | $94k | 3Y notice |
| 1 Oct 2026 | Susan Ferrier | Buy incentive | 524 | — | — | $28k | 3Y notice |
| 1 Oct 2026 | Xi Xi | Buy incentive | 529 | — | — | $28k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.