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 40% in 24 months; 3 cash raises in 24 months
NORTHERN MINERALS LIMITED's ordinary share count grew 40.4% between September 2024 and November 2025, reaching 9.55B shares. The company raised capital three times in the past 24 months, for a total of A$90.2M, with the most recent capital raise being a A$60.5M placement in October 2025. Options on issue could convert into 84M new shares, representing 0.9% of the current share count. No expiry date is on record for these securities. As of the June 2026 quarter, the company reported A$444K in available cash, representing 0.0 quarters of funding at its recent spending rate. There are no pending proposed securities issues.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2A 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).
Capital raises
3 cash raises in the last 24 months · 1 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 allows 15% of ordinary securities in any 12 months, and every Appendix 3B 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.
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.
- NTUABConverts on terms1 securities → 04 Nov 2025 Appendix 2A
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 12 Sept 2026.