Companies / PNT

PANTHER METALS LTD

ASX:PNTMaterials
408.4M shares on issueASX (delayed) · snapshot 11 Sept 2026529.2M fully diluted+29.6% if every option and right converts$0.005price · delayed$2.0Mmarket cap · indicative

Today’s holders own 77.2% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 368% in 24 months; runway 2–4 quarters; 2 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway2.7 quarters of funding
Share-count growth (24m)368.5%
Raise cadence (24m)2 cash raises
Options & rights overhang29.6% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

PANTHER METALS LTD's ordinary share count increased 368.5% between January 2024 and December 2025, reaching 408M shares. In the past 24 months, the company completed two capital raises totalling A$1.5M, with the most recent being a Non-Renounceable Rights Issue in October 2025 which raised A$817K. Options and rights on issue represent potential new shares of 121M, which is 29.6% of the current share count, and the nearest expiry date is May 2027. As of the June 2026 quarter, the company reported A$535K in available cash, sufficient for approximately 2.7 quarters. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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29.6%
Options & rights overhang
0.0%
In-the-money supply
1
Raises · last 12 months
2.7 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 408.4M per ASX (delayed) (snapshot 11 Sept 2026).
250M300M350M400MDec 24Oct 25Sept 26Cash raise · 31 Oct 2025Cash raise · 27 Feb 2025408.4M

Cash runway

2.7 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about Feb 2027 at the reported spend rate.
$533k 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: $698k cash at quarter end (item 4.6), 3.5 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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10 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
23 Dec 20252A · quoted issuePNT : ORDINARY FULLY PAID408.4MAppendix 2A
4 Dec 20253H · cancellationPNT : ORDINARY FULLY PAID306.3MAppendix 3H
4 Dec 20252A · quoted issuePNT : ORDINARY FULLY PAID369.0MAppendix 2A
20 Oct 20252A · quoted issuePNT : ORDINARY FULLY PAID306.3MAppendix 2A
8 May 20253G · unquotedPNT : ORDINARY FULLY PAID300.9MAppendix 3G
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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

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

every 8.1 monthsaverage gap between raises
10.4 monthssince the most recent
27 Feb 2025 – 31 Oct 2025first to most recent in this window
$817k
Non-Renounceable Rights Issue
31 Oct 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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2 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.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).
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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

29.6%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
120.8M
Potential new shares
May 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered110.1M · 27.0% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered10.8M · 2.6% 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: 110.1M priced, 10.8M 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
60.4M120.8M$0.005 now0.25× today ($0.001) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.004) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.007) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.010) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.015) — 0 of the priced supply in the money, 0.0% of shares on issue5× today ($0.025) — 0 of the priced supply in the money, 0.0% of shares on issue10× today ($0.050) — 110.1M of the priced supply in the money, 27.0% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.005 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 10× today’s price, which takes it to 110.1M (27.0% 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.
  • 10.8M (8.9% 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
PNTAHOptionsPrice-triggered$0.02510 May 202730.4MFiling
PNTAGOptionsPrice-triggered$0.03024 Sept 202779.7MFiling
PNTAFPerformance rightsCondition-triggered——10.8MFiling 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.

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3 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 Apr 2026Daniel TuffinSell—7184.3M—3Y notice
28 Apr 2026Ranko MaticSell—2.5M3.2M—3Y notice
20 Apr 2026Daniel TuffinBuy on-market625k——$6k3Y notice
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14 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

11 Sept 2026Half Year Accounts
6 Aug 2026Panther Metals Sharpens WA Focus with Strategic Lease Sale
5 Aug 2026$PMultiple Nickel-Copper Targets Defined at Red Flag
28 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
7 May 2026Results of Meeting
30 Apr 2026Update to Quarterly Reports
30 Apr 2026Change of Director's Interest Notice
29 Apr 2026Change of Director's Interest Notice
29 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
23 Apr 2026Change of Director's Interest Notice
1 Apr 2026Letter to Shareholders - Annual General Meeting
1 Apr 2026Notice of Annual General Meeting/Proxy Form
27 Mar 2026Date of Annual General Meeting
26 Mar 2026Appendix 4G & Annual Corporate Governance Statement
26 Mar 2026Annual Report to shareholders
30 Jan 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
31 Dec 2025Ceasing to be a substantial holder
30 Dec 2025Change in substantial holding
23 Dec 2025$PMarket Update
23 Dec 2025Application for quotation of securities - PNT

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