NORTHERN MINERALS LIMITED
ASX:NTUMaterialsToday’s holders own 99.1% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 36% in 24 months; 3 cash raises in 24 months
NORTHERN MINERALS LIMITED's ordinary share count grew 36.3% between October 2024 and November 2025, its latest share-count filing, to 9.55B shares. The company raised capital 3 times in the 24-month window for total proceeds of A$90.2M, most recently a A$60.5M placement in October 2025. Options and rights on issue could convert into 84M new shares, equal to 0.9% of the current share count, none of which are in the money; no filing on record states an expiry date for these securities. At the reported spend rate the reported cash would since have been used up, and no later cash report is on record, so no funding-runway figure applies. No proposed securities issues are currently pending.
Quick answers · 5
When did NTU last raise capital?
The last capital raise in Northern Minerals's filings is Placement of $60.5M announced 27 Oct 2025, one of 3 cash raises in 24 months.
How much placement capacity does NTU have left?
About 6% of the 15% placement capacity left, about 94% 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 NTU have?
In its quarterly cash report for the quarter ended 30 June 2026, Northern Minerals reported $7.8M of cash and estimated 0.9 quarters of funding available at its current rate of spending. That is the company's own estimate.
How many options and rights does NTU have outstanding?
Unexercised options and rights equal 0.9% of Northern Minerals's shares on issue.
How much has NTU's share count grown?
Northern Minerals has 9.55B shares on issue as at 28 Oct 2026, up 36.3% 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 |
|---|---|---|---|---|
| 8 Jan 2026 | 3H · cancellation | NTU : ORDINARY FULLY PAID | 9.54B | Appendix 3H |
| 4 Nov 2025 | 3H · cancellation | NTU : ORDINARY FULLY PAID | 9.54B | Appendix 3H |
| 3 Nov 2025 | 2A · quoted issue | NTU : ORDINARY FULLY PAID | 9.54B | Appendix 2A |
| 3 Nov 2025 | 3G · unquoted | ORDINARY FULLY PAID | 8.36B | Appendix 3G |
| 1 July 2025 | 3H · cancellation | NTU : ORDINARY FULLY PAID | 8.36B | Appendix 3H |
Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (9.54B) need not equal the current count above (9.55B).
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
3 cash raises in the last 24 months · 0 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
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 84.4M of it 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 |
|---|---|---|---|---|---|---|
| NTUAZ | Performance rights | Condition-triggered | — | — | 84.4M | 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 |
|---|---|---|---|---|---|---|---|
| 22 June 2025 | Adam Handley | Sell | — | 10.0M | — | — | 3Y notice |
| 22 June 2025 | Bin Cai | Sell incentive | 7.2M | — | 15.0M | — | 3Y notice |
| 22 June 2025 | Liangbing Yu | Sell | — | 10.0M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.