Companies / PV1

PROVARIS ENERGY LTD

ASX:PV1Energy
1.17B shares on issueASX (delayed) · snapshot 11 Sept 20261.34B fully diluted+14.7% if every option and right converts$0.006price · delayed$7.6Mmarket cap · indicative

Today’s holders own 87.2% of what they think they own, once every option and right converts.

High
Dilution risk

Runway under 2 quarters; share count grew 86% in 24 months; 8 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway0.6 quarters of funding
Share-count growth (24m)85.6%
Raise cadence (24m)8 cash raises
Options & rights overhang14.7% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

PROVARIS ENERGY LTD's ordinary share count grew 85.6% between September 2024 and September 2026, reaching 1.17B shares. In the past 24 months, the company undertook eight capital raises totalling A$6.6M, with the most recent being a A$1.0M placement in June 2026. There are potential new shares of 172M from options and rights on issue, representing 14.7% of current shares, with the nearest expiry in February 2027. As of the June 2026 quarter, the company had A$456K in available cash, covering approximately 0.6 quarters of its operating expenses. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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14.7%
Options & rights overhang
0.0%
In-the-money supply
3
Raises · last 12 months
0.6 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 1.17B per ASX (delayed) (snapshot 11 Sept 2026).
0.8B1.0B1.2BDec 24Oct 25Sept 26Cash raise · 17 June 2026Cash raise · 2 Mar 2026Cash raise · 15 Dec 2025Cash raise · 22 Aug 2025Cash raise · 4 July 2025Cash raise · 17 Apr 2025Cash raise · 14 Apr 20251.17B

Cash runway

0.6 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about Aug 2026 — that date has passed, and no later report is on record.
$448k 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: $1.1M cash at quarter end (item 4.6), 1.4 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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15 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 · unquotedORDINARY FULLY PAID1.17BAppendix 3G
7 Sept 20262A · quoted issuePV1 : ORDINARY FULLY PAID1.17BAppendix 2A
4 Sept 20263G · unquotedPV1 : ORDINARY FULLY PAID1.17BAppendix 3G
12 July 20263H · cancellationPV1 : ORDINARY FULLY PAID1.17BAppendix 3H
26 June 20262A · quoted issuePV1 : ORDINARY FULLY PAID1.17BAppendix 2A
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48 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

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

every 2.8 monthsaverage gap between raises
2.9 monthssince the most recent
1 Nov 2024 – 17 June 2026first to most recent in this window
$1.0M
Placement
17 June 2026 COMPLETE
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9 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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3 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 24% of the 15% placement capacity left — about 76% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. 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

14.7%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
172.3M
Potential new shares
Feb 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered146.3M · 12.5% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered26.0M · 2.2% 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: 146.3M priced, 26.0M 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
86.1M172.3M$0.006 now0.25× today ($0.002) — 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 ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.006) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.008) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.010) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.013) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($0.019) — 51.0M of the priced supply in the money, 4.4% of shares on issue5× today ($0.033) — 142.3M of the priced supply in the money, 12.1% of shares on issue10× today ($0.065) — 142.3M of the priced supply in the money, 12.1% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.006 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 51.0M (4.4% 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.
  • 26.0M (15.1% 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.
  • 4.0M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
PV1APOptionsPrice-triggered$0.03020 Feb 202791.3MFiling
PV1AEOptionsPrice-triggered$0.0668 May 20274.0MFiling
PV1AGOptionsPrice-triggered$0.0134 Sept 202951.0MFiling
PV1AFPerformance rightsCondition-triggered——26.0MFiling

“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.

1 class ceased in the last 12 months and is 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.
  • PV1ADConverts on terms40 securities → 013 May 2026 Appendix 2A
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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
7 Sept 2026Martin CarolanOther placement3.9M1.3M6.0M—3Y notice
20 Mar 2026Andrew PickeringBuy placement1.2M615k3.0M—3Y notice
20 Mar 2026David PalmerBuy placement1.2M615k3.0M—3Y notice
20 Mar 2026Gregory MartinOther placement2.1M1.0M3.0M—3Y notice
20 Mar 2026Martin CarolanOther placement5.1M2.5M3.0M—3Y notice
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24 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

7 Sept 2026Appendix 3Y - Director's Interest
7 Sept 2026Application for quotation of securities - PV1
7 Sept 2026Notification regarding unquoted securities - PV1
4 Sept 2026Notification regarding unquoted securities - PV1
3 Sept 2026Shareholders' General Meeting Results
31 Aug 2026$PCollaboration with Himile for H2 Tank Manufacturing
28 Aug 2026$PAppendix 4E & 2026 Annual Report
3 Aug 2026General Meeting of Shareholders
31 July 2026$PQuarterly Activities/Appendix 4C Cash Flow Report
12 July 2026Notification of cessation of securities - PV1
26 June 2026Cleansing Notice
26 June 2026Application for quotation of securities - PV1
24 June 2026$PFEED Milestone for LCO2 Tank and DNV Approval Process
21 June 2026Proposed issue of securities - PV1
21 June 2026$PCapital Raising Completed to Support 2026 Program
17 June 2026$PTrading Halt
12 June 2026Shareholders' General Meeting Results
26 May 2026Investor Presentation
24 May 2026$PCO2 Milestone with Yinson Expands Commercialisation
18 May 2026$PK LINE Co-operation on Norway H2 Supply Chain

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