MOUNT RIDLEY MINES LIMITED
ASX:MRDMaterialsToday’s holders own 72.1% of what they think they own, once every option and right converts.
Share count grew 56% in 24 months; 5 cash raises in 24 months; options/rights overhang 39% of shares
MOUNT RIDLEY MINES LIMITED underwent a 1-for-10 share consolidation in December 2024. Between August 2025 and October 2026, its latest share-count filing, the ordinary share count grew 55.9% (adjusted for the consolidation) to 1.40B shares. In that period the company raised capital five times for total disclosed proceeds of A$4.7M, most recently a A$2.1M placement in September 2026. Options and rights could convert into 539M new shares, representing a 38.6% overhang; 34% of current shares are in the money, with the nearest expiry in September 2030. The company has more than 4 quarters of funding at the recent spend rate. One proposed securities issue is pending, expected in November 2026.
Quick answers · 5
Why was MRD in a trading halt?
Mount Ridley Mines requested a trading halt on 13 Oct 2026, giving the reason "Pending announcement regarding third-party Selectro testwork results". Trading was expected to resume 15 Oct 2026.
Is MRD raising capital?
Mount Ridley Mines has 1 proposed issue of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $2.1M on 4 Sept 2026.
How much placement capacity does MRD have left?
About 65% of the 15% placement capacity left, about 35% 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 MRD have?
In its quarterly cash report for the quarter ended 30 June 2026, Mount Ridley Mines reported $1.9M of cash and estimated 3.1 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do MRD's options expire?
Unexercised options and rights equal 38.6% of Mount Ridley Mines's shares on issue; the nearest expiry is Sept 2030.
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 | 2A · quoted issue | MRD : ORDINARY FULLY PAID | 1.40B | Appendix 2A |
| 2 Oct 2026 | 2A · quoted issue | MRD : ORDINARY FULLY PAID | 1.40B | Appendix 2A |
| 11 Sept 2026 | 2A · quoted issue | MRD : ORDINARY FULLY PAID | 1.39B | Appendix 2A |
| 11 Sept 2026 | 2A · quoted issue | MRD : ORDINARY FULLY PAID | 1.33B | Appendix 2A |
| 23 July 2026 | 3G · unquoted | ORDINARY FULLY PAID | 1.33B | 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 · 2 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 · Future drilling programs (planned)
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-triggered476.1M · 34.1% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered62.6M · 4.5% 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: 476.1M priced (of which 476.1M in the money), 62.6M 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 $0.045 today, 476.1M securities are in the money (34.1% 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.
- 62.6M (11.6% 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 |
|---|---|---|---|---|---|---|
| MRDAP | Options | Price-triggered | $0.010 | 9 Sept 2030 | 476.1M | Filing |
| MRDAC | Performance rights | Condition-triggered | — | — | 62.6M | 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 |
|---|---|---|---|---|---|---|---|
| 30 Mar 2026 | David Wall | Buy on-market | 6.0M | — | — | $177k | 3Y notice |
| 19 Dec 2025 | Pedro Kastellorizos | Buy incentive | 5.0M | — | — | — | 3Y notice |
| 19 Nov 2025 | Kieran Witt | Other entitlement/SPP | 20.0M | 10.0M | — | $40k | 3Y notice |
| 19 Nov 2025 | Pedro Kastellorizos | Other entitlement/SPP | 10.0M | 5.0M | 10.0M | $20k | 3Y notice |
| 19 Nov 2025 | Peter James Christie | Other entitlement/SPP | 10.0M | 5.0M | — | $20k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.