Companies / RMX

RED MOUNTAIN MINING LIMITED

ASX:RMXMaterials
1.11B shares on issueASX (delayed) · snapshot 11 Sept 20261.78B fully diluted+60.9% if every option and right converts$0.011price · delayed$12.2Mmarket cap · indicative

Today’s holders own 62.2% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 186% in 24 months; 7 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.0 quarters of funding
Share-count growth (24m)186.4%
Raise cadence (24m)7 cash raises
Options & rights overhang60.9% of shares
In-the-money supply10.5% of shares
Pending proposed issuesnone

RED MOUNTAIN MINING LIMITED reported a share consolidation and a 186.4% increase in its ordinary share count between August 2024 and August 2026, with the latest share count standing at 1.11B shares. Over the past 24 months, the company conducted seven capital raises totalling A$6.5M, with the most recent being a A$1.6M placement in April 2026. Options and rights outstanding represent potential new shares equivalent to 60.9% of the current share count, with 10% in the money, and the nearest expiry date is September 2026. As of the June 2026 quarter, the company had A$1.1M in available cash, sufficient for approximately 1.0 quarter of operations. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 9 Sept 2026
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60.9%
Options & rights overhang
10.5%
In-the-money supply · most strikes not on record
3
Raises · last 12 months
1.0 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 1.11B per ASX (delayed) (snapshot 11 Sept 2026).
0.50B0.75B1.00BDec 24Oct 25Sept 26Cash raise · 27 Apr 2026Cash raise · 1 Dec 2025Cash raise · 22 Sept 2025Cash raise · 14 Aug 2025Cash raise · 27 June 2025Cash raise · 29 Apr 20251.11B

Cash runway

1.0 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about Sept 2026 — that date has passed, and no later report is on record.
$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: $2.0M cash at quarter end (item 4.6), 1.9 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
28 Aug 20262A · quoted issueRMX : ORDINARY FULLY PAID1.11BAppendix 2A
28 Aug 20263G · unquotedRMX : ORDINARY FULLY PAID1.04BAppendix 3G
12 May 20262A · quoted issueRMX : ORDINARY FULLY PAID1.04BAppendix 2A
13 Feb 20262A · quoted issueRMX : ORDINARY FULLY PAID949.9MAppendix 2A
13 Feb 20263G · unquotedRMX : ORDINARY FULLY PAID941.1MAppendix 3G
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40 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

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

every 3 monthsaverage gap between raises
4.5 monthssince the most recent
30 Oct 2024 – 27 Apr 2026first to most recent in this window
$1.6M
Placement
27 Apr 2026 COMPLETE
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13 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.

No estimate — the filings already exceed 15% of the share count we can measure, which means securities were added to the base during the year that we cannot see. The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure.
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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

60.9%
Options & rights overhang · of current shares
10.5%
In-the-money supply · most strikes not on record
675.5M
Potential new shares
Sept 2026
Nearest expiry
What a price move would switch on
337.7M675.5M$0.011 now0.25× today ($0.003) — 116.0M of the priced supply in the money, 10.5% of shares on issue0.5× today ($0.005) — 116.0M of the priced supply in the money, 10.5% of shares on issue0.75× today ($0.008) — 116.0M of the priced supply in the money, 10.5% of shares on issue1× today ($0.011) — 116.0M of the priced supply in the money, 10.5% of shares on issue1.25× today ($0.014) — 116.0M of the priced supply in the money, 10.5% of shares on issue1.5× today ($0.017) — 116.0M of the priced supply in the money, 10.5% of shares on issue2× today ($0.022) — 116.0M of the priced supply in the money, 10.5% of shares on issue3× today ($0.033) — 116.0M of the priced supply in the money, 10.5% of shares on issue5× today ($0.055) — 299.6M of the priced supply in the money, 27.0% of shares on issue10× today ($0.110) — 299.6M 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 $0.011 today, 116.0M securities are in the money (10.5% of shares on issue) — a floor, because an exercise price is on record for only 44.4% of this supply. No more priced supply until 5× today’s price, which takes it to 299.6M (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.
  • 375.9M (55.6% 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
RMXOKOptionsPrice-triggered—14 Sept 202624.9MFiling
RMXOOptionsPrice-triggered—10 May 2027351.0MFiling
RMXAMOptionsPrice-triggered$0.0003 Feb 202838.7MFiling
RMXALOptionsPrice-triggered$0.05031 Dec 2028183.6MFiling
RMXANOptionsPrice-triggered$0.0003 Feb 202938.7MFiling
RMXAOOptionsPrice-triggered$0.0003 Feb 203038.7MFiling

“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.

2 classes ceased in the last 12 months and are 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.
  • RMXAKPrice-triggered5.5M securities → 031 Oct 2025 Appendix 2A
  • RMXAHConverts on terms74k securities → 012 Sept 2025 Appendix 2A
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6 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 2026Lincoln LiuOther incentive41.4M4.2M50.0M—3Y notice
28 Aug 2026Mauro PicciniOther incentive—1.5M6.0M—3Y notice
3 Feb 2026Lincoln LiuOther incentive—50.0M——3Y notice
3 Feb 2026Mauro PicciniOther incentive—6.0M——3Y notice
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12 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 2026Unmarketable Parcel Sale Facility
30 Aug 2026$PDRILLING UNDERWAY AT ARMIDALE ANTIMONY-GOLD PROJECT
28 Aug 2026Change of Director's Interest Notice (x2)
28 Aug 2026Cleansing Notice
28 Aug 2026Notification regarding unquoted securities - RMX
28 Aug 2026Application for quotation of securities - RMX
26 Aug 2026RMXOK Expiry Notice
17 Aug 2026Results of Meeting
31 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
28 July 2026$PSYSTEMATIC EXPLORATION UNDERWAY AT PIONEER TUNGSTEN PROJECT
24 July 2026RMXOK Expiry Notice
15 July 2026Notice of General Meeting/Proxy Form
8 July 2026$PARMIDALE ANTIMONY TARGET EXPANDED AHEAD OF JULY DRILLING
30 June 2026$PSTRONG TUNGSTEN GRADES AT PIONEER TUNGSTEN PROJECT MONTANA
8 June 2026$PPOSITIVE MAGNETIC STUDY RESULTS AT PIONEER TUNGSTEN PROJECT
29 May 2026Retraction and Clarification to ASX Announcement
27 May 2026$PRED MOUNTAIN SECURES 100% OWNERSHIP OF PIONEER TUNGSTEN
24 May 2026$PEXCEPTIONAL HIGH-GRADE ANTIMONY CONCENTRATE FROM MET-WORK
17 May 2026$PDRILLING APPROVAL RECEIVED & IP SURVEY COMPLETED AT ARMIDALE
12 May 2026Cleansing Notice

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