Companies / ORD

ORDELL MINERALS LIMITED

ASX:ORDMaterials
75.6M shares on issueASX (delayed) · snapshot 11 Sept 202696.0M fully diluted+27.0% if every option and right converts$0.55price · delayed$41.6Mmarket cap · indicative

Today’s holders own 78.8% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 51% in 24 months; 3 cash raises in 24 months; runway 4–8 quarters

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway4.2 quarters of funding
Share-count growth (24m)50.7%
Raise cadence (24m)3 cash raises
Options & rights overhang27.0% of shares
In-the-money supply23.2% of shares
Pending proposed issuesnone

ORDELL MINERALS LIMITED's ordinary share count grew 110.4% between February 2025 and August 2026, to 76M shares. The company raised capital three times in the past 24 months for total disclosed proceeds of A$11.0M, most recently a A$7.0M placement in May 2026. Options and rights on issue could convert into 20M new shares, equal to 27.0% of the current share count, of which 23% are in the money at the current share price; the nearest expiry falls in November 2027. At the June 2026 quarter the company reported A$6.9M in available cash, about 4.2 quarters of funding at its recent spending rate. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 8 Sept 2026
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27.0%
Options & rights overhang
23.2%
In-the-money supply
1
Raises · last 12 months
4.2 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 75.6M per ASX (delayed) (snapshot 11 Sept 2026).
50M60M70MDec 24Oct 25Sept 26Cash raise · 12 May 2026Cash raise · 16 July 2025Cash raise · 14 July 202575.6M

Cash runway

4.2 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about July 2027 at the reported spend rate.
$6.9M 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: $8.2M cash at quarter end (item 4.6), 5.0 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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8 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)

DateFormSecurityOn issue, per this filingSource
5 Aug 20262A · quoted issueORD : ORDINARY FULLY PAID75.6MAppendix 2A
24 July 20262A · quoted issueORD : ORDINARY FULLY PAID75.6MAppendix 2A
7 July 20262A · quoted issueORD : ORDINARY FULLY PAID69.6MAppendix 2A
26 May 20262A · quoted issueORD : ORDINARY FULLY PAID69.5MAppendix 2A
24 May 20262A · quoted issueORD : ORDINARY FULLY PAID69.4MAppendix 2A
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20 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

3 cash raises in the last 24 months · 1 in the last 12 months

every 5 monthsaverage gap between raises
4 monthssince the most recent
14 July 2025 – 12 May 2026first to most recent in this window
$7.0M
Placement
12 May 2026 COMPLETE
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8 raises 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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6 dated events 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.

About 49% of the 15% placement capacity left — about 51% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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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

27.0%
Options & rights overhang · of current shares
23.2%
In-the-money supply · at current price
20.4M
Potential new shares
Nov 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered17.6M · 23.2% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered2.8M · 3.7% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 17.6M priced (of which 17.6M in the money), 2.8M 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.

What a price move would switch on
10.2M20.4M$0.55 now0.25× today ($0.14) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.28) — 9.0M of the priced supply in the money, 11.9% of shares on issue0.75× today ($0.41) — 17.6M of the priced supply in the money, 23.2% of shares on issue1× today ($0.55) — 17.6M of the priced supply in the money, 23.2% of shares on issue1.25× today ($0.69) — 17.6M of the priced supply in the money, 23.2% of shares on issue1.5× today ($0.83) — 17.6M of the priced supply in the money, 23.2% of shares on issue2× today ($1.10) — 17.6M of the priced supply in the money, 23.2% of shares on issue3× today ($1.65) — 17.6M of the priced supply in the money, 23.2% of shares on issue5× today ($2.75) — 17.6M of the priced supply in the money, 23.2% of shares on issue10× today ($5.50) — 17.6M of the priced supply in the money, 23.2% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.55 today, 17.6M securities are in the money (23.2% of shares on issue). No price up to ten times today’s switches on any more priced supply.

  • 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.
  • 2.8M (13.9% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
CodeSecurityTypeExercise priceExpiryOn issueSource
ORDAOOptionsPrice-triggered$0.2530 Nov 2027500kFiling
ORDAFOptionsPrice-triggered$0.2530 Nov 20276.5MFiling
ORDAGOptionsPrice-triggered$0.3530 Nov 20276.5MFiling
ORDAHOptionsPrice-triggered$0.2515 July 20282.0MFiling
ORDAJOptionsPrice-triggered$0.3515 July 20282.0MFiling
ORDANOptionsPrice-triggered$0.3517 July 202875kFiling
ORDALPerformance rightsCondition-triggered——2.8MFiling 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.

3 classes ceased in the last 12 months and are not counted above
The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.
  • ORDADPrice-triggered1.0M securities → 018 Mar 2026 Appendix 2A
  • ORDAEPrice-triggered1.0M securities → 018 Mar 2026 Appendix 2A
  • ORDAMPrice-triggered75k securities → 011 Feb 2026 Appendix 2A
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7 option lines 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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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
8 Dec 2025Michael FowlerOther incentive500k8.0M1.0M—3Y notice
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1 notice on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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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

7 Sept 2026Appendix 4G and Corporate Governance Statement
7 Sept 2026Annual Report to shareholders
24 Aug 2026Investor Presentation - RIU Resources Investor Roadshow
16 Aug 2026$PMajor Resource Drilling Program Underway at Barimaia
5 Aug 2026Application for quotation of securities - ORD
29 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
24 July 2026Application for quotation of securities - ORD
9 July 2026Release of Securities from Escrow
7 July 2026Application for quotation of securities - ORD
1 July 2026$PExtensive Gold Anomalism at Goodia and Fisher South Projects
26 May 2026Cleansing Notice Under Section 708A
26 May 2026Application for quotation of securities - ORD
25 May 2026Change in substantial holding from GMD
24 May 2026Change in substantial holding
24 May 2026Cleansing Notice Under Section 708A
24 May 2026Application for quotation of securities - ORD
19 May 2026Proposed issue of securities - ORD
19 May 2026$POrdell Expands Prospective Footprint at Barimaia
13 May 2026Proposed issue of securities - ORD
13 May 2026$POrdell Raises $7M With New Drilling Program Underway

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.