Companies / PGD

PEREGRINE GOLD LTD

ASX:PGDMaterials
98.8M shares on issueASX (delayed) · snapshot 11 Sept 2026127.8M fully diluted+29.3% if every option and right converts$0.18price · delayed$17.8Mmarket cap · indicative

Today’s holders own 77.3% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 46% in 24 months; runway 2–4 quarters; 3 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway2.0 quarters of funding
Share-count growth (24m)45.6%
Raise cadence (24m)3 cash raises
Options & rights overhang29.3% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesnone

PEREGRINE GOLD LTD's ordinary share count grew 45.6% between March 2024 and December 2025, reaching 99M shares. The company completed three capital raises in the past 24 months, totalling A$6.4M, with the most recent being a A$3.0M placement in September 2025. There are 29M potential new shares from options, representing 29.3% of the current share count, with the nearest expiry in November 2026. As of June 2026, the company had A$1.4M in available cash, sufficient to cover 2.0 quarters of operations. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 7 Sept 2026
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29.3%
Options & rights overhang
—
In-the-money supply · most strikes not on record
0
Raises · last 12 months
2.0 qtrs
Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 98.8M per ASX (delayed) (snapshot 11 Sept 2026).
70M80M90M100MDec 24Oct 25Sept 26Cash raise · 1 Sept 2025Cash raise · 4 Apr 202598.8M

Cash runway

2.0 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about Dec 2026 at the reported spend rate.
$1.4M 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: $2.0M cash at quarter end (item 4.6), 2.8 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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11 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
7 Sept 20263G · unquotedPGD : ORDINARY FULLY PAID98.8MAppendix 3G
28 Aug 20263H · cancellationPGD : ORDINARY FULLY PAID98.8MAppendix 3H
6 Jan 20263H · cancellationPGD : ORDINARY FULLY PAID98.8MAppendix 3H
16 Dec 20252A · quoted issuePGD : ORDINARY FULLY PAID98.8MAppendix 2A
2 Dec 20253G · unquotedPGD : ORDINARY FULLY PAID98.5MAppendix 3G
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24 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 · 0 in the last 12 months

every 5.1 monthsaverage gap between raises
12.4 monthssince the most recent
28 Oct 2024 – 1 Sept 2025first to most recent in this window
$3.0M
Placement
1 Sept 2025
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3 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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7 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 98% of the 15% placement capacity left — about 2% 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

29.3%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
29.0M
Potential new shares
Nov 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered26.3M · 26.6% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 17.0M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered2.7M · 2.7% 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: 9.3M priced, 19.6M 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
14.5M29.0M$0.18 now0.25× today ($0.04) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.09) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.14) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.18) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.22) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.27) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.36) — 7.8M of the priced supply in the money, 7.9% of shares on issue3× today ($0.54) — 8.3M of the priced supply in the money, 8.4% of shares on issue5× today ($0.90) — 9.3M of the priced supply in the money, 9.4% of shares on issue10× today ($1.80) — 9.3M of the priced supply in the money, 9.4% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

An exercise price is on record for only 32.2% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.18 today. At double today’s price it is 7.8M (7.9% of shares).

  • 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.
  • 19.6M (67.8% 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
PGDAPOptionsPrice-triggered$0.4024 Nov 2026500kFiling
PGDAQOptionsPrice-triggered$0.6024 Nov 2026500kFiling
PGDAROptionsPrice-triggered$0.8024 Nov 2026500kFiling
—Performance rightsCondition-triggered—7 Oct 2027667kFiling Meeting
PGDOOptionsPrice-triggered—13 Dec 202717.0MFiling
PGDAVOptionsPrice-triggered$0.3311 Sept 20281.0MFiling
PGDAUOptionsPrice-triggered$0.3311 Sept 20286.8MFiling
PGDAWPerformance rightsCondition-triggered——2.0MFiling 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.

2 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.
  • PGDAGCondition-triggered1.0M securities → 028 Aug 2026 Appendix 2A
  • PGDAHCondition-triggered1.5M securities → 028 Aug 2026 Appendix 2A
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8 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
27 Aug 2026Anees SabetSell incentive—333k1.4M—3Y notice
27 Aug 2026George MerhiSell incentive——250k—3Y notice
31 Mar 2026Anees SabetSell—338k——3Y notice
31 Mar 2026George MerhiSell—608k250k—3Y notice
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11 notices 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

9 Sept 2026Heritage Survey Commences at Mallina Gold Project
7 Sept 2026Notification regarding unquoted securities - PGD
1 Sept 2026Allan Kneeshaw Appointed Technical Advisor Mallina
28 Aug 2026Change of Director's Interest Notice - A. Sabet
28 Aug 2026Change of Director's Interest Notice - G. Merhi
28 Aug 2026Notification of cessation of securities - PGD
26 Aug 2026$PVisible Gold in Bulk Sampling at Peninsula
7 Aug 2026Change of Director's Interest Notice - G. Merhi
7 Aug 2026Change of Director's Interest Notice - A. Sabet
3 Aug 2026$PAuriferous Paleo Gravels Extended at Newman Gold Project
29 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
23 July 2026Ethnographic Surveys Completed at Key Newman Prospects
15 July 2026Commencement of Exploration at Pilgangoora North & Rocklea
9 July 2026$PAuriferous Paleo Gravels Discovered at Newman Gold Project
8 July 2026$PTrading Halt
8 July 2026$PPause in Trading
18 May 2026Appointment of Company Secretary
30 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
11 Mar 2026Half Year Accounts
4 Mar 2026Expiry of Options

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