NEX METALS EXPLORATION LIMITED

ASX:NMEMaterials

341.8M shares on issueASX (delayed) · snapshot 11 Sept 2026345.8M fully diluted+1.2% if every option and right converts$0.015price · delayed$5.1Mmarket cap · indicative

Today’s holders own 98.8% of what they think they own, once every option and right converts.

Low

Dilution risk

Runway under 2 quarters; 1 cash raise in 24 months

Absolute levels — not a ranking against other companies.

Cash runway1.2 quarters of funding

Share-count growth (24m)-6.0%

Raise cadence (24m)1 cash raise

Options & rights overhang1.2% of shares

In-the-money supply0.0% of shares

Pending proposed issuesnone

NEX METALS EXPLORATION LIMITED's ordinary share count declined 6.0% between May 2024 and June 2026, standing at 342M shares. The company raised capital once in the past 24 months, a A$200K placement in May 2025. Options on issue could convert into 4M new shares, representing 1.2% of the current share count, with the nearest expiry in September 2027; none are currently in the money. As of the June 2026 quarter, the company held A$252K in cash, providing cover for approximately 1.2 quarters. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026

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1.2%

Options & rights overhang

0.0%

In-the-money supply

Raises · last 12 months

1.2 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 341.8M per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

1.2 qtrs

Less than two quarters of funding at the recent spend rate — near-term funding pressure.

Funds operations to about Oct 2026 at the reported spend rate.

$249k 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: $418k cash at quarter end (item 4.6), 5.7 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)

Date	Form	Security	On issue, per this filing	Source
9 June 2026	3H · cancellation	NME : ORDINARY FULLY PAID	335.3M	Appendix 3H
9 June 2026	2A · quoted issue	NME : ORDINARY FULLY PAID	341.8M	Appendix 2A
14 Oct 2025	2A · quoted issue	NME : ORDINARY FULLY PAID	335.3M	Appendix 2A
14 Oct 2025	3G · unquoted	NME : ORDINARY FULLY PAID	335.3M	Appendix 3G
13 Oct 2025	2A · quoted issue	NME : ORDINARY FULLY PAID	335.3M	Appendix 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

1 cash raise in the last 24 months · 0 in the last 12 months

$200k

Placement

20 May 2025

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1 raise 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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1 dated event 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

1.2%

Options & rights overhang · of current shares

0.0%

In-the-money supply · at current price

4.0M

Potential new shares

Sept 2027

Nearest expiry

What a price move would switch on

At $0.015 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 4.0M (1.2% 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.

Code	Security	Type	Exercise price	Expiry	On issue	Source
NMEAC	Options	Price-triggered	$0.040	17 Sept 2027	4.0M	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.

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1 option line 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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