Companies / NC1

NICO RESOURCES LIMITED

ASX:NC1Materials
136.8M shares on issueASX (delayed) · snapshot 11 Sept 2026140.8M fully diluted+2.9% if every option and right converts$0.12price · delayed$16.4Mmarket cap · indicative

Today’s holders own 97.2% of what they think they own, once every option and right converts.

Low
Dilution risk

Share count grew 25% in 24 months; runway 4–8 quarters; 2 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway7.8 quarters of funding
Share-count growth (24m)25.0%
Raise cadence (24m)2 cash raises
Options & rights overhang2.9% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

NICO RESOURCES LIMITED's ordinary share count grew 25.0% between April 2024 and January 2026, reaching 137M shares. The company undertook two capital raises totalling A$4.8M in the past 24 months, with the most recent being a A$3.7M placement in January 2026. Options and rights on issue represent a potential 4M new shares, or 2.9% of the current share count, with the nearest expiry in June 2028. At the June 2026 quarter, the company reported A$4.4M in available cash, covering approximately 7.9 quarters of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 9 Sept 2026
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2.9%
Options & rights overhang
0.0%
In-the-money supply
1
Raises · last 12 months
7.8 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 136.8M per ASX (delayed) (snapshot 11 Sept 2026).
110M120M130MDec 24Oct 25Sept 26Cash raise · 15 Jan 2026Cash raise · 29 May 2025136.8M

Cash runway

7.8 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about May 2028 at the reported spend rate.
$4.4M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $4.9M cash at quarter end (item 4.6), 8.7 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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11 quarters on record — 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)

DateFormSecurityOn issue, per this filingSource
27 Jan 20262A · quoted issueNC1 : ORDINARY FULLY PAID136.8MAppendix 2A
2 Dec 20252A · quoted issueNC1 : ORDINARY FULLY PAID124.4MAppendix 2A
2 Dec 20253G · unquotedNC1 : ORDINARY FULLY PAID123.5MAppendix 3G
13 June 20253G · unquotedNC1 : ORDINARY FULLY PAID123.5MAppendix 3G
9 June 20252A · quoted issueNC1 : ORDINARY FULLY PAID123.5MAppendix 2A
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11 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

2 cash raises in the last 24 months · 1 in the last 12 months

every 7.6 monthsaverage gap between raises
7.9 monthssince the most recent
29 May 2025 – 15 Jan 2026first to most recent in this window
$3.7M
Placement
15 Jan 2026
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3 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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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.

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2 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

2.9%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
4.0M
Potential new shares
June 2028
Nearest expiry
What a price move would switch on
2.0M4.0M$0.12 now0.25× today ($0.03) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.06) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.09) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.12) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.15) — 1.0M of the priced supply in the money, 0.7% of shares on issue1.5× today ($0.18) — 4.0M of the priced supply in the money, 2.9% of shares on issue2× today ($0.24) — 4.0M of the priced supply in the money, 2.9% of shares on issue3× today ($0.36) — 4.0M of the priced supply in the money, 2.9% of shares on issue5× today ($0.60) — 4.0M of the priced supply in the money, 2.9% of shares on issue10× today ($1.20) — 4.0M of the priced supply in the money, 2.9% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.12 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 1.0M (0.7% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
NC1AHOptionsPrice-triggered$0.1212 June 20281.0MFiling
NC1AIOptionsPrice-triggered$0.1726 Nov 20283.0MFiling

“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.

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2 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
5 June 2026Rod CorpsSell off-market————3Y notice
4 May 2026Rod CorpsBuy on-market280k——$65k3Y notice
8 Apr 2026Rod CorpsBuy on-market150k——$27k3Y notice
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24 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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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

30 Aug 2026Nico Commences Infill Drilling at Wingellina Project
22 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
11 June 2026Change of Director's Interest Notice
11 May 2026Change of Director's Interest Notice
3 May 2026MOU for integrated battery materials refining platform
28 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
13 Apr 2026Change of Director's Interest Notice
7 Apr 2026Options Expired
27 Mar 2026Change of Director's Interest Notice
19 Mar 2026Change of Director's Interest Notice
12 Mar 2026Half Yearly Report and Accounts
24 Feb 2026Change of Director's Interest Notice
30 Jan 2026Becoming a substantial holder
28 Jan 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
28 Jan 2026Change in substantial holding
28 Jan 2026Change in substantial holding from MLX
27 Jan 2026Notice Under Section 708A
27 Jan 2026Application for quotation of securities - NC1
26 Jan 2026Investor Presentation
19 Jan 2026Proposed issue of securities - NC1

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.