Companies / RCR

RINCON RESOURCES LIMITED

ASX:RCRMaterials
522.2M shares on issueASX (delayed) · snapshot 11 Sept 2026810.6M fully diluted+55.2% if every option and right converts$0.015price · delayed$7.8Mmarket cap · indicative

Today’s holders own 64.4% of what they think they own, once every option and right converts.

Moderate
Dilution risk

Share count grew 78% in 24 months; options/rights overhang 55% of shares; runway 4–8 quarters

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway5.4 quarters of funding
Share-count growth (24m)78.5%
Raise cadence (24m)2 cash raises
Options & rights overhang55.2% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

RINCON RESOURCES LIMITED's ordinary share count grew 78.5% between August 2024 and May 2026, reaching 522M shares. The company raised capital twice in the past 24 months, with disclosed proceeds totalling A$3.1M, most recently through a placement in February 2026 that raised A$3.1M. Options and rights on issue could convert into 288M new shares, representing 55.2% of the current share count, with no options currently in the money; the nearest expiry is in February 2027. As of the June 2026 quarter, the company reported A$2.9M in available cash, sufficient for 5.4 quarters at its recent spending rate. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 8 Sept 2026
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55.2%
Options & rights overhang
0.0%
In-the-money supply
1
Raises · last 12 months
5.4 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 522.2M per ASX (delayed) (snapshot 11 Sept 2026).
300M400M500MDec 24Oct 25Sept 26Cash raise · 25 Feb 2026Cash raise · 17 July 2025522.2M

Cash runway

5.4 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Oct 2027 at the reported spend rate.
$2.9M 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: $3.3M cash at quarter end (item 4.6), 6.2 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
18 Aug 20263H · cancellationRCR : ORDINARY FULLY PAID522.2MAppendix 3H
12 May 20262A · quoted issueRCR : ORDINARY FULLY PAID522.2MAppendix 2A
12 May 20263G · unquotedRCR : ORDINARY FULLY PAID390.6MAppendix 3G
12 May 20263G · unquotedRCR : ORDINARY FULLY PAID390.6MAppendix 3G
16 Mar 20263H · cancellationRCR : ORDINARY FULLY PAID390.6MAppendix 3H
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23 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 7.3 monthsaverage gap between raises
6.5 monthssince the most recent
17 July 2025 – 25 Feb 2026first to most recent in this window
$3.1M
Placement
25 Feb 2026
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2 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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6 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.

Under 1% of the 15% placement capacity left — about 99% 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

55.2%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
288.4M
Potential new shares
Feb 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered233.3M · 44.7% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered55.1M · 10.6% 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: 233.3M priced, 55.1M 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
144.2M288.4M$0.015 now0.25× today ($0.004) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.007) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.011) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.015) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.019) — 100.0M of the priced supply in the money, 19.1% of shares on issue1.5× today ($0.022) — 100.0M of the priced supply in the money, 19.1% of shares on issue2× today ($0.030) — 100.0M of the priced supply in the money, 19.1% of shares on issue3× today ($0.045) — 197.5M of the priced supply in the money, 37.8% of shares on issue5× today ($0.075) — 202.8M of the priced supply in the money, 38.8% of shares on issue10× today ($0.150) — 213.3M of the priced supply in the money, 40.8% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.015 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 100.0M (19.1% 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.
  • 55.1M (19.1% 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.
  • 20.0M 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
RCRAAEOptionsPrice-triggered$0.03014 Feb 202797.5MFiling
RCRAADOptionsPrice-triggered$0.1513 Aug 202720.0MFiling
RCRAYOptionsPrice-triggered$0.0501 Dec 20275.3MFiling
RCRAZOptionsPrice-triggered$0.0751 Dec 20275.3MFiling
RCRAAAOptionsPrice-triggered$0.101 Dec 20275.3MFiling
RCRANOptionsPrice-triggered$0.01512 May 2029100.0MFiling
RCRAJPerformance rightsCondition-triggered——55.1MFiling 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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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
12 May 2026Mr Michael GriffithsOther placement600k30.0M8.0M$105k3Y notice
11 May 2026Mr Blair SergeantOther placement2.7M10.0M8.0M$40k3Y notice
11 May 2026Mr David LenigasOther placement7.0M10.0M8.0M$105k3Y notice
11 May 2026Mr Don StrangOther placement2.0M10.0M8.0M$30k3Y 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

23 Aug 2026$PDrilling Underway at the Telfer South Project
18 Aug 2026Notification of cessation of securities - RCR
30 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
30 June 2026$PWest Arunta Joint Venture
21 June 2026Drill Rig Secured for Telfer South Project
14 May 2026Change of Director's Interest Notice x4
12 May 2026Cleansing Statement
12 May 2026Notification regarding unquoted securities - RCR
12 May 2026Notification regarding unquoted securities - RCR
12 May 2026Application for quotation of securities - RCR
10 May 2026$PMajor Geophysical Target Identified Under Hasties Au-Cu Zone
1 May 2026Results of Meeting
29 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
13 Apr 2026$PTwo Additional Gold Copper Targets on Telfer South Project
1 Apr 2026Letter to Shareholders regarding General Meeting
1 Apr 2026Notice of General Meeting/Proxy Form
16 Mar 2026Notification of cessation of securities - RCR
12 Mar 2026Half Year Accounts
9 Mar 2026Cleansing Statement
9 Mar 2026Application for quotation of securities - RCR

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