Companies / PKO

PEAKO LIMITED

ASX:PKOMaterials
2.78B shares on issueASX (delayed) · snapshot 11 Sept 20263.57B fully diluted+28.2% if every option and right converts$0.010price · delayed$27.8Mmarket cap · indicative

Today’s holders own 78.0% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 217% in 24 months; runway 2–4 quarters; options/rights overhang 28% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway3.2 quarters of funding
Share-count growth (24m)216.7%
Raise cadence (24m)1 cash raise
Options & rights overhang28.2% of shares
In-the-money supply18.3% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

PEAKO LIMITED's ordinary share count grew 216.7% between August 2024 and September 2026, reaching 2.78B shares. The company conducted one capital raise in the past 24 months, a A$5.2M placement in June 2026. As of September 2026, there is potential for 785M new shares from options and rights, representing 28.2% of the current share count, with 18% of these options in the money and the nearest expiry in November 2026. Cash on hand at June 2026 was A$1.2M, sufficient for approximately 3.2 quarters of operations. Two proposed securities issues (Appendix 3B) are pending, with the nearest expected in November 2026.

AI-generated summary of this page's cited filings · updated 8 Sept 2026
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28.2%
Options & rights overhang
18.3%
In-the-money supply
1
Raises · last 12 months
3.2 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 2.78B per ASX (delayed) (snapshot 11 Sept 2026).
1.0B1.5B2.0B2.5BDec 24Oct 25Sept 26Cash raise · 4 June 20262.78B

Cash runway

3.2 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about Apr 2027 at the reported spend rate.
$1.2M 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: $1.6M cash at quarter end (item 4.6), 3.2 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
8 Sept 20262A · quoted issuePKO : ORDINARY FULLY PAID2.78BAppendix 2A
30 Aug 20262A · quoted issuePKO : ORDINARY FULLY PAID2.78BAppendix 2A
30 Aug 20263G · unquotedPKO : ORDINARY FULLY PAID1.71BAppendix 3G
30 Aug 20263G · unquotedPKO : ORDINARY FULLY PAID1.71BAppendix 3G
19 June 20262A · quoted issuePKO : ORDINARY FULLY PAID1.71BAppendix 2A
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19 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

1 cash raise in the last 24 months · 1 in the last 12 months

$5.2M
Placement
4 June 2026 ACTIVE
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5 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.

479.5M of option supply could convert within 12 months — 17.2% of shares on issue
479.5M in the money, expiring in the window
2 proposed issues (Appendix 3B) also pending — not counted above; the securities each would add are in the calendar below.
Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.
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5 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 2% of the 15% placement capacity left — about 98% 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

2 proposed issues pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.
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2 pending issues on record — Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

28.2%
Options & rights overhang · of current shares
18.3%
In-the-money supply · at current price
784.8M
Potential new shares
Nov 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered565.8M · 20.3% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered219.0M · 7.9% 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: 565.8M priced (of which 509.5M in the money), 219.0M 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
392.4M784.8M$0.010 now0.25× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.007) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.010) — 509.5M of the priced supply in the money, 18.3% of shares on issue1.25× today ($0.013) — 509.5M of the priced supply in the money, 18.3% of shares on issue1.5× today ($0.015) — 509.5M of the priced supply in the money, 18.3% of shares on issue2× today ($0.020) — 509.5M of the priced supply in the money, 18.3% of shares on issue3× today ($0.030) — 565.8M of the priced supply in the money, 20.3% of shares on issue5× today ($0.050) — 565.8M of the priced supply in the money, 20.3% of shares on issue10× today ($0.100) — 565.8M of the priced supply in the money, 20.3% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.010 today, 509.5M securities are in the money (18.3% of shares on issue). No more priced supply until 3× today’s price, which takes it to 565.8M (20.3% 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.
  • 219.0M (27.9% 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
PKOAABOptionsPrice-triggered$0.02030 Nov 202656.4MFiling
PKOAACOptionsPrice-triggered$0.00728 Feb 2027479.5MFiling
PKOACOptionsPrice-triggered$0.00928 Aug 202930.0MFiling
PKOAAPerformance rightsCondition-triggered——219.0MFiling 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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4 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
28 Aug 2026Dr Louis BucciOther placement6.3M10.0M—$25k3Y notice
28 Aug 2026Dr Paul Anthony KittoOther incentive—10.0M——3Y notice
28 Aug 2026Gernot AblOther placement37.5M16.7M80.0M$150k3Y notice
28 Aug 2026Raewyn Louise ClarkOther incentive—10.0M——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

10 Sept 2026Initial Director's Interest Notice
10 Sept 2026Final Director's Interest Notice
8 Sept 2026Section 708A Cleansing Notice
8 Sept 2026Application for quotation of securities - PKO
6 Sept 2026Proposed issue of securities - PKO
6 Sept 2026Global Mining Leader Stephen McIntosh Joins Peako Board
4 Sept 2026Final Director's Interest Notice
4 Sept 2026Change of Director's Interest Notice X4
4 Sept 2026Resignation of Non-Executive Director
1 Sept 2026Change in substantial holding
30 Aug 2026Notification regarding unquoted securities - PKO
30 Aug 2026Section 708A Cleansing Notice
30 Aug 2026Notification regarding unquoted securities - PKO
30 Aug 2026Application for quotation of securities - PKO
23 Aug 2026$PResponse to Price Query
23 Aug 2026$PMagnetic Surveys Commence Ahead of Maiden KSA Drilling
17 Aug 2026Results of Meeting
5 Aug 2026$PExtensive gold systems discovered - KSA project rock samples
30 July 2026$PPKO Quarterly Activities/Appendix 5B Cash Flow Report
15 July 20262026 EGM - Letter to Shareholders & Proxy Form

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