Companies / PGM

PLATINA RESOURCES LIMITED

ASX:PGMMaterials
690.6M shares on issueASX (delayed) · snapshot 11 Sept 2026735.2M fully diluted+6.5% if every option and right converts$0.025price · delayed$17.3Mmarket cap · indicative

Today’s holders own 93.9% of what they think they own, once every option and right converts.

Low
Dilution risk

Runway 4–8 quarters; share count grew 7% in 24 months; options/rights overhang 6% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway6.8 quarters of funding
Share-count growth (24m)7.1%
Raise cadence (24m)0 cash raises
Options & rights overhang6.5% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

PLATINA RESOURCES LIMITED's ordinary share count grew 7.1% between September 2025 and June 2026, to 691M shares. The company has not raised capital in the past 24 months, and no proposed securities issues are pending. Options and rights on issue could convert into 45M new shares, representing 6.5% of the current share count, with the nearest expiry in November 2026; none of these are currently in the money. At the June 2026 quarter, the company reported A$7.7M in available cash, providing approximately 6.8 quarters of funding.

AI-generated summary of this page's cited filings · updated 10 Sept 2026
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6.5%
Options & rights overhang
0.0%
In-the-money supply
0
Raises · last 12 months
6.8 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 690.6M per ASX (delayed) (snapshot 11 Sept 2026).
625M650M675MDec 24Oct 25Sept 26690.6M

Cash runway

6.8 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Feb 2028 at the reported spend rate.
$7.7M 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: $8.6M cash at quarter end (item 4.6), 7.6 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
21 July 20263G · unquotedPGM : ORDINARY FULLY PAID690.6MAppendix 3G
25 June 20262A · quoted issuePGM : ORDINARY FULLY PAID690.6MAppendix 2A
17 June 20262A · quoted issuePGM : ORDINARY FULLY PAID649.9MAppendix 2A
9 June 20263G · unquotedPGM : ORDINARY FULLY PAID644.9MAppendix 3G
5 Dec 20253G · unquotedPGM : ORDINARY FULLY PAID644.9MAppendix 3G
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12 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

No equity raises in the last 24 months.
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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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9 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 74% of the 15% placement capacity left — about 26% 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

6.5%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
44.6M
Potential new shares
Nov 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered32.5M · 4.7% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered12.1M · 1.8% 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: 32.5M priced, 12.1M 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
22.3M44.6M$0.025 now0.25× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.013) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.019) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.025) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.031) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.038) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.050) — 2.5M of the priced supply in the money, 0.4% of shares on issue3× today ($0.075) — 26.0M of the priced supply in the money, 3.8% of shares on issue5× today ($0.125) — 32.5M of the priced supply in the money, 4.7% of shares on issue10× today ($0.250) — 32.5M of the priced supply in the money, 4.7% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.025 today, 0 securities are in the money (0.0% of shares on issue). At double today’s price it is 2.5M (0.4% 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.
  • 12.1M (27.1% 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
PGMAEOptionsPrice-triggered$0.04027 Nov 20262.0MFiling
PGMAFOptionsPrice-triggered$0.06027 Nov 20262.0MFiling
PGMAGOptionsPrice-triggered$0.08027 Nov 20262.0MFiling
PGMAHOptionsPrice-triggered$0.05030 Nov 202817.0MFiling
PGMATOptionsPrice-triggered$0.07030 Nov 20284.0MFiling
PGMAUOptionsPrice-triggered$0.09030 Nov 20284.0MFiling
PGMAVOptionsPrice-triggered$0.04027 Apr 2029500kFiling
PGMAWOptionsPrice-triggered$0.06027 Apr 2029500kFiling
PGMAXOptionsPrice-triggered$0.08027 Apr 2029500kFiling
PGMAPPerformance sharesCondition-triggered——100kFiling Meeting
—Performance rightsCondition-triggered——12.0MFiling 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.

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11 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
30 Nov 2025Brian MollerOther—3.5M——3Y notice
30 Nov 2025Chris HartleyOther—3.0M——3Y notice
30 Nov 2025Corey NolanOther400k4.0M——3Y notice
30 Nov 2025John AndersonOther104k3.0M——3Y notice
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4 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

31 Aug 2026$PSunrise Bore Gold Project Broad mineralised system Amended
30 Aug 2026$PSunrise Bore Gold Project Broad mineralised system confirmed
30 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
21 July 2026Notification regarding unquoted securities - PGM
21 July 2026Initial Director's Interest Notice - Paul Polito
29 June 2026Becoming a substantial holder
29 June 2026Cleansing Notice under Section 708A(5)(e)
28 June 2026$PMt McKenna Gold Project - New Gold Zones Discovered
25 June 2026Application for quotation of securities - PGM
25 June 2026$PCompletion of Sunrise Bore Acquisition and Drilling to Begin
18 June 2026Cleansing Notice under Section 708A(5)(e)
17 June 2026Application for quotation of securities - PGM
17 June 2026$PCompletion of Mt Morgans South Project Acquisition
17 June 2026Sunrise Bore Purchase Update
9 June 2026Notification regarding unquoted securities - PGM
28 May 2026Final Director's Interest Notice
26 May 2026$PAppointment of Paul Polito as Managing Director
24 May 2026$PBrimstone Gold Project - Farm-in and JV with NE Minerals
27 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
29 Mar 2026$PPhase 3 aircore drilling begins at Mt McKenna Gold Project

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