Companies / MM1

MIDAS MINERALS LTD

ASX:MM1Materials
245.3M shares on issueASX (delayed) · as of 28 July 2026$0.80price · delayed$181.5Mmarket cap · indicative
C
Dilution grade

Share count grew 138% in 24 months; 6 cash raises in 24 months; 1% of shares in the money

Cash runway8.5 quarters of funding
Share-count growth (24m)138.1%
Raise cadence (24m)6 cash raises
Options & rights overhang4.2% of shares
In-the-money supply1.2% of shares
Pending proposed issuesnone

MIDAS MINERALS LTD's ordinary share count grew 138.1% between May 2024 and July 2026, to 245M shares. The company completed six capital raises in that period for total disclosed proceeds of A$87.1M, most recently a A$28.0M placement in April 2026. Options and rights on issue could convert into 10M new shares, equal to 4.2% of the current share count, of which 1% are in the money at the current share price; the nearest expiry is July 2028. At the June 2026 quarter the company reported A$29.6M in available cash, equal to 8.5 quarters of cover. 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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4.2%
Max option dilution
1.2%
ITM option dilution
4
Raises · last 12 months
8.5 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 245.3M per ASX (delayed) (28 July 2026).
147.9M183.7M219.4MDec 24Sept 25July 26Cash raise · 13 Apr 2026Cash raise · 13 Apr 2026Cash raise · 15 Sept 2025Cash raise · 15 Sept 2025Cash raise · 15 May 2025

Cash runway

8.5 qtrs
More than four quarters of funding at the recent spend rate.
$29.6M available cash at quarter ended 30 June 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 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityTotal on issue afterSource
10 July 20262A · quoted issueMM1 : ORDINARY FULLY PAID245.3MAppendix 2A
21 Apr 20262A · quoted issueMM1 : ORDINARY FULLY PAID204.0MAppendix 2A
21 Apr 20262A · quoted issueMM1 : ORDINARY FULLY PAID240.9MAppendix 2A
13 Jan 20263G · unquotedORDINARY FULLY PAID203.5MAppendix 3G
13 Jan 20262A · quoted issueMM1 : ORDINARY FULLY PAID203.5MAppendix 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 · 4 in the last 12 months

$28.0M
Placement
13 Apr 2026 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

4.2%
Total overhang · of current shares
1.2%
In the money · at current price
10.3M
Potential new shares
July 2028
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
10 July 2026Sara KellyOther1.0M——3Y notice
10 July 2026Michael Hood WilsonOther1.1M——3Y notice
10 July 2026Mark CalderwoodOther1.0M——3Y 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

27 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
10 July 2026Change of Director's Interest Notice
10 July 2026Application for quotation of securities - MM1
7 July 2026$PDrilling defines high grade zone at T-13 West, Otavi Project
5 July 2026$PHigh-Grade Copper-Silver Extension Confirmed at Spaatzu
28 June 2026$PFirst drilling at Deblin intersects visual Cu mineralisation
14 June 2026$PHigh-Grade Copper and Silver Intercepts Continue at T-13
27 May 2026Results of Annual General Meeting
24 May 2026Sale of Newington Project, Western Australia
20 May 2026$PFurther Exceptional Copper and Silver Intercepts, Otavi
19 May 2026Canaccord Global Metals and Mining Conference Presentation
12 May 2026Ceasing to be a substantial holder
3 May 2026$PExceptional Copper and Silver Intercepts at T-13, Otavi
28 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
27 Apr 2026Change in substantial holding
24 Apr 2026Notice of Annual General Meeting/Proxy Form/Notice of Access
23 Apr 2026Becoming a substantial holder
21 Apr 2026Issue of Shares and Cleansing Notice
21 Apr 2026Application for quotation of securities - MM1
21 Apr 2026Application for quotation of securities - MM1

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