Companies / NFL

NORFOLK METALS LIMITED

ASX:NFLMaterials
100.8M shares on issueASX (delayed) · as of 28 July 2026$0.11price · delayed—market cap · indicative
F
Dilution grade

Runway under 2 quarters; share count grew 146% in 24 months; 5 cash raises in 24 months

Cash runway1.0 quarters of funding
Share-count growth (24m)146.4%
Raise cadence (24m)5 cash raises
Options & rights overhang19.5% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

NORFOLK METALS LIMITED's ordinary share count rose 146.4% between April 2024 and January 2026 to 101M shares. The company raised capital five times in that period for total disclosed proceeds of A$108.8M, most recently a A$100.0M public offer in June 2026. Options and rights on issue could convert into 20M new shares, equal to 19.5% of the current share count, with the nearest expiry in October 2026; none are in the money. At the March 2026 quarter NORFOLK METALS reported A$900K in cash, representing about 1.0 quarter 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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19.5%
Max option dilution
0.0%
ITM option dilution
3
Raises · last 12 months
1.0 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 100.8M per ASX (delayed) (28 July 2026).
53.5M70.9M88.2MDec 24Sept 25July 26Cash raise · 11 June 2026Cash raise · 14 Jan 2026Cash raise · 13 Jan 2026Cash raise · 23 July 2025Cash raise · 26 Mar 2025

Cash runway

1.0 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$900k available cash at quarter ended 31 Mar 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 31 Mar 2026.
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Issuance timeline

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

DateFormSecurityTotal on issue afterSource
19 June 20263H · cancellationNFL : ORDINARY FULLY PAID100.8MAppendix 3H
16 Jan 20262A · quoted issueNFL : ORDINARY FULLY PAID100.8MAppendix 2A
28 Dec 20252A · quoted issueNFL : ORDINARY FULLY PAID80.8MAppendix 2A
29 Sept 20253G · unquotedNFL : ORDINARY FULLY PAID65.1MAppendix 3G
29 Sept 20252A · quoted issueNFL : ORDINARY FULLY PAID80.0MAppendix 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

5 cash raises in the last 24 months · 3 in the last 12 months

$100.0M
Public Offer
11 June 2026 ACTIVE
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

19.5%
Total overhang · of current shares
0.0%
In the money · at current price
19.7M
Potential new shares
Oct 2026
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
29 June 2026Patrick HolywellSell200k——3Y notice
29 June 2026Ben PhillipsSell2.5M2.8M—3Y notice
29 June 2026Leonardo PilapilSell———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$PNorfolk Ciclon Copper Project - SPA Extension
3 July 2026Notice of General Meeting/Proxy Form
30 June 2026Change of Director's Interest Notice - L Pilapil
30 June 2026Change of Director's Interest Notice - P Holywell
30 June 2026Change of Director's Interest Notice - B Phillips
19 June 2026$PJORC 2012 MRE for Ciclon Copper Project Chile
19 June 2026Notification of cessation of securities - NFL
11 June 2026ASX Waiver Request Granted
11 June 2026$PTransformational acquisition of Ciclon Copper Project Chile
29 May 2026Expiry of Quoted Options
13 May 2026Final Director's Interest Notice
13 May 2026Director Resignation
30 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
11 Mar 2026Half Year Financial Report
10 Mar 2026$PSuspension from Quotation
8 Mar 2026$PTrading Halt
22 Feb 2026$PCarmen Copper Project Update
30 Jan 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
16 Jan 2026Cleansing Notice
16 Jan 2026Application for quotation of securities - NFL

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