MEDALLION METALS LIMITED.
ASX:MM8MaterialsToday’s holders own 96.6% of what they think they own, once every option and right converts.
Share count grew 128% in 24 months; 5 cash raises in 24 months; 1% of shares in the money
MEDALLION METALS LIMITED's ordinary share count rose 127.5% between October 2024 and August 2026, its latest share-count filing, to 928M shares. The company raised capital five times in the past 24 months for total disclosed proceeds of A$214.0M, most recently a A$60.0M placement in August 2026. Options and rights on issue could convert into 32M new shares, equal to 3.5% of the current share count, of which 1% are in the money at the current share price; the nearest expiry falls in September 2027. As of its June 2026 quarter, the company reported more than 4 quarters of funding at the recent spend rate. No proposed securities issues are currently pending.
Quick answers · 4
When did MM8 last raise capital?
The last capital raise in Medallion Metals's filings is Placement of $60.0M announced 20 Aug 2026, one of 5 cash raises in 24 months.
How much cash does MM8 have?
In its quarterly cash report for the quarter ended 30 June 2026, Medallion Metals reported $54.0M of cash and estimated 6.4 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do MM8's options expire?
Unexercised options and rights equal 3.5% of Medallion Metals's shares on issue; the nearest expiry is Sept 2027.
How much has MM8's share count grown?
Medallion Metals has 928.3M shares on issue as at 28 Oct 2026, up 127.5% 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 |
|---|---|---|---|---|
| 27 Aug 2026 | 2A · quoted issue | MM8 : ORDINARY FULLY PAID | 928.3M | Appendix 2A |
| 5 Aug 2026 | 2A · quoted issue | MM8 : ORDINARY FULLY PAID | 803.3M | Appendix 2A |
| 15 July 2026 | 3H · cancellation | MM8 : ORDINARY FULLY PAID | 797.1M | Appendix 3H |
| 15 July 2026 | 2A · quoted issue | MM8 : ORDINARY FULLY PAID | 799.8M | Appendix 2A |
| 26 June 2026 | 3G · unquoted | MM8 : ORDINARY FULLY PAID | 797.1M | Appendix 3G |
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
5 cash raises in the last 24 months · 3 in the last 12 months
Results due
What the company's own reports say is coming, and when. A month is one the report names; “by end of year” is a deadline such as “Q4”. See every explorer on the results calendar.
- by end 2026 · Diamond drilling completion (to complete)
- by end 2026 · Mineral Resource Estimate release (to complete)
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
At $0.40 today, 9.5M securities are in the money (1.0% 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.
- 22.7M (70.5% of the supply above) states a nil exercise price — nothing is paid to convert it, so no share price switches it on or off. It is the flat band, and it is not part of the in-the-money figure.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| MM8AO | Options | Price-triggered | $0.075 | 30 Sept 2027 | 4.0M | Filing |
| MM8AL | Options | Price-triggered | Nil | 26 Nov 2027 | 846k | Filing |
| MM8AK | Options | Price-triggered | Nil | 26 Nov 2027 | 2.6M | Filing |
| MM8AP | Options | Price-triggered | $0.15 | 7 Feb 2028 | 5.5M | Filing |
| MM8AQ | Options | Price-triggered | Nil | 30 Apr 2028 | 4.0M | Filing |
| MM8AR | Options | Price-triggered | Nil | 16 July 2028 | 6.3M | Filing |
| MM8AS | Options | Price-triggered | Nil | 26 June 2029 | 8.9M | Filing |
“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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 25 Mar 2026 | David Kelly | Other | 300k | 300k | — | — | 3Y notice |
| 23 Jan 2026 | David Kelly | Buy entitlement/SPP | 24k | — | — | $8k | 3Y notice |
| 23 Jan 2026 | John Fitzgerald | Buy entitlement/SPP | 24k | — | — | $8k | 3Y notice |
| 23 Jan 2026 | Paul Bennett | Buy entitlement/SPP | 24k | — | — | $8k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.