Companies / OCN

OCEANA METALS LIMITED

ASX:OCNMaterials
235.4M shares on issueASX (delayed) · as of 28 July 2026$0.34price · delayed$94.2Mmarket cap · indicative
D
Dilution grade

Share count grew 185% in 24 months; 3 cash raises in 24 months; options/rights overhang 32% of shares

Cash runway46.0 quarters of funding
Share-count growth (24m)185.3%
Raise cadence (24m)3 cash raises
Options & rights overhang31.6% of shares
In-the-money supply9.8% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

OCEANA METALS LIMITED listed in July 2022, so its disclosure history is longer than recent listings. Its ordinary share count grew 185.3% between July 2024 and July 2026, to 235M shares. The company raised capital three times in that 24-month window for total disclosed proceeds of A$20.7M, most recently via a Non pro rata offer of securities under a disclosure document / PDS in July 2026. Options and rights on issue could convert into 74M new shares, equal to 31.6% of the current share count, of which 10% are in the money; the nearest expiry is December 2026. At the March 2026 quarter the company reported A$21.2M in cash, representing 46.0 quarters 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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31.6%
Max option dilution
9.8%
ITM option dilution
2
Raises · last 12 months
46.0 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 235.4M per ASX (delayed) (28 July 2026).
114.6M158.9M203.3MDec 24Sept 25July 26Cash raise · 16 July 2026Cash raise · 28 Apr 2026Cash raise · 16 May 2025

Cash runway

46.0 qtrs
More than four quarters of funding at the recent spend rate.
$21.2M 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
16 July 20262A · quoted issueOCN : ORDINARY FULLY PAID235.4MAppendix 2A
16 July 20262A · quoted issueOCN : ORDINARY FULLY PAID198.3MAppendix 2A
15 July 20263G · unquotedOCN : ORDINARY FULLY PAID198.3MAppendix 3G
15 July 20263G · unquotedOCN : ORDINARY FULLY PAID198.3MAppendix 3G
26 June 20263H · cancellationOCN : ORDINARY FULLY PAID198.3MAppendix 3H
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

3 cash raises in the last 24 months · 2 in the last 12 months

—
Non pro rata offer of securities under a disclosure document / PDS
16 July 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

31.6%
Total overhang · of current shares
9.8%
In the money · at current price
74.5M
Potential new shares
Dec 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
17 July 2026Michael Hood WilsonOther417k—$150k3Y notice
17 July 2026Russell CurtinOther208k—$75k3Y notice
17 July 2026Hamish HallidayOther208k—$75k3Y 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

16 July 2026Change of Director's Interest Notice x 3
16 July 2026Application for quotation of securities - OCN
16 July 2026Application for quotation of securities - OCN
16 July 2026Cleansing Prospectus
16 July 2026Proposed issue of securities - OCN
15 July 2026Notification regarding unquoted securities - OCN
15 July 2026Notification regarding unquoted securities - OCN
14 July 2026Oceana Metals Corporate Presentation
14 July 2026Results of Meeting
8 July 2026$PHigh-Grade REE Intercepts Confirm Top-Tier Potential
26 June 2026Notification of cessation of securities - OCN
12 June 2026Notice of General Meeting/Proxy Form/Notice of Access
10 June 2026Application for quotation of securities - OCN
20 May 2026Application for quotation of securities - OCN
20 May 2026Update - Notification regarding unquoted securities - OCN
13 May 2026$PPreparations underway for initial 20,000m drilling program
10 May 2026Application for quotation of securities - OCN
5 May 2026Change in substantial holding
5 May 2026Change in substantial holding
4 May 2026Application for quotation of securities - OCN

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