NORTH STAWELL MINERALS LTD
ASX:NSMMaterialsToday’s holders own 99.0% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 42% in 24 months; 4 cash raises in 24 months
NORTH STAWELL MINERALS LTD's ordinary share count grew 42.5% between October 2024 and September 2026, its latest share-count filing, to 389M shares. In the 24-month window, the company raised A$5.6M across 4 capital raises, the latest being a A$250K placement in September 2026. Options and rights could convert into 4M new shares, representing a 1.0% overhang; none are in the money, and the nearest expiry is November 2026. The company has under 2 quarters of funding at the recent spend rate. No proposed securities issues are pending.
Quick answers · 5
When did NSM last raise capital?
The last capital raise in North Stawell Minerals's filings is Placement of $250k announced 28 Sept 2026, one of 4 cash raises in 24 months.
How much placement capacity does NSM have left?
About 72% of the 15% placement capacity left, about 28% 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 NSM have?
In its quarterly cash report for the quarter ended 30 June 2026, North Stawell Minerals reported $702k of cash and estimated 1.3 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do NSM's options expire?
Unexercised options and rights equal 1% of North Stawell Minerals's shares on issue; the nearest expiry is Nov 2026.
How much has NSM's share count grown?
North Stawell Minerals has 388.6M shares on issue as at 28 Oct 2026, up 42.5% 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 |
|---|---|---|---|---|
| 30 Sept 2026 | 2A · quoted issue | NSM : ORDINARY FULLY PAID | 388.6M | Appendix 2A |
| 4 June 2026 | 2A · quoted issue | NSM : ORDINARY FULLY PAID | 373.9M | Appendix 2A |
| 30 Jan 2026 | 2A · quoted issue | NSM : ORDINARY FULLY PAID | 373.6M | Appendix 2A |
| 8 Jan 2026 | 2A · quoted issue | NSM : ORDINARY FULLY PAID | 373.3M | Appendix 2A |
| 1 Dec 2025 | 2A · quoted issue | NSM : ORDINARY FULLY PAID | 372.1M | Appendix 2A |
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
4 cash raises in the last 24 months · 2 in the last 12 months
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-triggered833k · 0.2% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered3.0M · 0.8% 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: 0 priced, 833k at a stated nil price, 3.0M 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.
No option supply on record carries an exercise price to pay, so no share price switches any of it on. 833k of it states a NIL exercise price — nothing is paid to convert that, so it converts at any price. The other 3.0M converts on something else — a hurdle that may never be met, or terms the filing does not price.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| NSMAH | Options | Price-triggered | Nil | 30 Nov 2026 | 833k | Filing |
| NSMAF | Performance rights | Condition-triggered | — | — | 3.0M | 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 |
|---|---|---|---|---|---|---|---|
| 1 Aug 2025 | Jeremy Kitson Ellis | Buy | 160k | — | — | — | 3Y notice |
| 7 Apr 2025 | Campbell Peter Olsen | Other incentive | 1.0M | — | 4.0M | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.