Companies / RC1

REDCASTLE RESOURCES LIMITED

ASX:RC1Materials
134.8M shares on issueASX (delayed) · snapshot 11 Sept 2026194.1M fully diluted+43.9% if every option and right converts$0.086price · delayed$11.6Mmarket cap · indicative

Today’s holders own 69.5% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 305% in 24 months; 5 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.4 quarters of funding
Share-count growth (24m)304.9%
Raise cadence (24m)5 cash raises
Options & rights overhang43.9% of shares
In-the-money supply11.5% of shares
Pending proposed issuesnone

REDCASTLE RESOURCES LIMITED underwent an approximately 1-for-10 share consolidation in November 2025. Following this, its ordinary share count grew 304.9% between August 2024 and August 2026, with the latest share count reported as 135M. The company raised capital five times in the past 24 months for total disclosed proceeds of A$10.0M, most recently a A$2.0M placement in May 2026. Options and rights on issue could convert into 59M new shares, equal to 43.9% of the current share count, of which 12% are in the money at the current share price; the nearest expiry falls in February 2028. At the June 2026 quarter the company reported A$1.1M in available cash, about 1.4 quarters of funding at its recent spending rate. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 7 Sept 2026
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43.9%
Options & rights overhang
11.5%
In-the-money supply · most strikes not on record
3
Raises · last 12 months
1.4 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. Adjusted for the 1-for-10 consolidation (27 Nov 2025). Latest count 134.8M per ASX (delayed) (snapshot 11 Sept 2026).
75M100M125MDec 24Oct 25Sept 261-for-10 consolidationCash raise · 15 May 2026Cash raise · 21 Oct 2025Cash raise · 20 Oct 2025Cash raise · 20 Aug 2025134.8M

Cash runway

1.4 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
Funds operations to about Oct 2026 at the reported spend rate.
$1.1M 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: $1.8M cash at quarter end (item 4.6), 2.2 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
10 Aug 20262A · quoted issueRC1 : ORDINARY FULLY PAID134.8MAppendix 2A
10 Aug 20263G · unquotedRC1 : ORDINARY FULLY PAID134.5MAppendix 3G
15 June 20262A · quoted issueRC1 : ORDINARY FULLY PAID134.5MAppendix 2A
28 May 20262A · quoted issueRC1 : ORDINARY FULLY PAID134.0MAppendix 2A
9 Mar 20262A · quoted issueRC1 : ORDINARY FULLY PAID120.0MAppendix 2A
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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

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

every 5 monthsaverage gap between raises
3.9 monthssince the most recent
13 Sept 2024 – 15 May 2026first to most recent in this window
$2.0M
Placement
15 May 2026 COMPLETE
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7 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.

No estimate — a share consolidation inside the last 12 months puts the filings and the share count in different units.
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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

43.9%
Options & rights overhang · of current shares
11.5%
In-the-money supply · most strikes not on record
59.2M
Potential new shares
Feb 2028
Nearest expiry
What a price move would switch on
29.6M59.2M$0.086 now0.25× today ($0.021) — 15.5M of the priced supply in the money, 11.5% of shares on issue0.5× today ($0.043) — 15.5M of the priced supply in the money, 11.5% of shares on issue0.75× today ($0.065) — 15.5M of the priced supply in the money, 11.5% of shares on issue1× today ($0.086) — 15.5M of the priced supply in the money, 11.5% of shares on issue1.25× today ($0.107) — 24.0M of the priced supply in the money, 17.8% of shares on issue1.5× today ($0.129) — 24.0M of the priced supply in the money, 17.8% of shares on issue2× today ($0.172) — 24.0M of the priced supply in the money, 17.8% of shares on issue3× today ($0.258) — 24.5M of the priced supply in the money, 18.2% of shares on issue5× today ($0.430) — 25.0M of the priced supply in the money, 18.5% of shares on issue10× today ($0.860) — 25.0M of the priced supply in the money, 18.5% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.086 today, 15.5M securities are in the money (11.5% of shares on issue) — a floor, because an exercise price is on record for only 42.2% of this supply. No more priced supply until 1.25× today’s price, which takes it to 24.0M (17.8% 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.
  • 34.3M (57.8% 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
—OptionsPrice-triggered$0.00110 Feb 202811.0MFiling
—OptionsPrice-triggered$0.00110 Aug 20284.5MFiling
RC1OAOptionsPrice-triggered—7 Oct 202834.3MFiling
RC1AFOptionsPrice-triggered$0.1030 Oct 20284.1MFiling
RC1AIOptionsPrice-triggered$0.201 Dec 2028500kFiling
RC1AJOptionsPrice-triggered$0.301 Dec 2028500kFiling
RC1AHOptionsPrice-triggered$0.1030 Oct 20294.3MFiling

“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.
  • RC1AGPrice-triggered33.3M securities → 011 Jan 2026 Appendix 2A
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7 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
10 Aug 2026Ray ShawOther placement107k1.5M——3Y notice
10 Aug 2026Ronald MillerOther placement143k3.5M——3Y notice
10 Aug 2026Xusheng Ke (Sean)Other placement71k3.5M——3Y notice
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16 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

6 Sept 2026$PAdditional High-Grade Gold Assays at Queen Alexandra
3 Sept 2026M39/1171 Granted - Supports Queen Alexandra Pit Expansion
30 Aug 2026Company Update
24 Aug 2026Company Update
11 Aug 2026Native Title Agreement Signed Advancing Queen Alexandra
10 Aug 2026Change of Director's Interest Notice x 3
10 Aug 2026Notification regarding unquoted securities - RC1
10 Aug 2026Cleansing Statement
10 Aug 2026Application for quotation of securities - RC1
6 Aug 2026Results of Meeting
29 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
28 July 2026Company Update
15 July 2026Chairman's Letter - RC1 from Explorer to Active Miner
12 July 2026$PQA Grade Control Delivers Shallow High-Grade Gold
5 July 2026Mining Operations Advancing at RR and QA Gold Deposits
3 July 2026General Meeting - Notice and Proxy Form
3 July 2026Notice of General Meeting/Proxy Form
15 June 2026Completion of Strategic Kilkenny Belt Acquisition
15 June 2026Cleansing Statement
15 June 2026Application for quotation of securities - RC1

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