Companies / SER

STRATEGIC ENERGY RESOURCES LIMITED

ASX:SERMaterials
71.6M shares on issueASX (delayed) · snapshot 11 Sept 202682.7M fully diluted+15.6% if every option and right converts$0.20price · delayed$14.0Mmarket cap · indicative

Today’s holders own 86.5% of what they think they own, once every option and right converts.

Moderate
Dilution risk

Share count grew 114% in 24 months; 2 cash raises in 24 months; options/rights overhang 16% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway8.5 quarters of funding
Share-count growth (24m)113.9%
Raise cadence (24m)2 cash raises
Options & rights overhang15.6% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

STRATEGIC ENERGY RESOURCES LIMITED underwent an approximately 1-for-20 share consolidation in April 2026. Following this, its ordinary share count grew 113.9% between July 2024 and September 2026, to a stated latest count of 72M shares. The company raised capital twice in the past 24 months for total disclosed proceeds of A$3.7M, most recently a A$1.7M placement and Security Purchase Plan in June 2026. Options and rights on issue could convert into 11M new shares, equal to 15.6% of the current share count, with the nearest expiry in March 2027; none of these options are currently in the money. At the June 2026 quarter, the company reported A$3.4M in available cash, sufficient for 8.5 quarters of funding based on its recent spending rate. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 9 Sept 2026
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15.6%
Options & rights overhang
0.0%
In-the-money supply
1
Raises · last 12 months
8.5 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. Adjusted for the 1-for-20 consolidation (1 Apr 2026). Latest count 71.6M per ASX (delayed) (snapshot 11 Sept 2026).
60M65M70MApr 26June 26Sept 26Cash raise · 29 June 202671.6M

Cash runway

8.5 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Aug 2028 at the reported spend rate.
$3.4M 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), 4.7 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
1 Sept 20262A · quoted issueSER : ORDINARY FULLY PAID71.6MAppendix 2A
27 July 20262A · quoted issueSER : ORDINARY FULLY PAID70.7MAppendix 2A
16 July 20262A · quoted issueSER : ORDINARY FULLY PAID66.8MAppendix 2A
2 July 20262A · quoted issueSER : ORDINARY FULLY PAID66.2MAppendix 2A
18 Mar 20262A · quoted issueSER : ORDINARY FULLY PAID1.13BAppendix 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

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

every 11 monthsaverage gap between raises
2.5 monthssince the most recent
28 July 2025 – 29 June 2026first to most recent in this window
$1.7M
Placement and Security Purchase Plan (SPP)
29 June 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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1 dated event 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

15.6%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
11.2M
Potential new shares
Mar 2027
Nearest expiry
What a price move would switch on
5.6M11.2M$0.20 now0.25× today ($0.05) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.10) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.15) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.20) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.24) — 10.3M of the priced supply in the money, 14.3% of shares on issue1.5× today ($0.29) — 10.3M of the priced supply in the money, 14.3% of shares on issue2× today ($0.39) — 10.3M of the priced supply in the money, 14.3% of shares on issue3× today ($0.58) — 10.3M of the priced supply in the money, 14.3% of shares on issue5× today ($0.98) — 10.3M of the priced supply in the money, 14.3% of shares on issue10× today ($1.95) — 10.3M of the priced supply in the money, 14.3% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.20 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 10.3M (14.3% 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.
  • 930k (8.3% 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
SERAFOptionsPrice-triggered$0.2028 Mar 202710.3MFiling
SERAEOptionsPrice-triggered——930kFiling

“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.

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2 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
1 Sept 2026Daniel LoughnanBuy placement417k———3Y notice
1 Sept 2026Stuart RechnerBuy placement417k250k——3Y notice
12 Feb 2026Daniel LoughnanBuy on-market10.0M——$70k3Y notice
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17 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

8 Sept 2026Resource Rising Stars Presentation
3 Sept 2026Change of Director's Interest Notice x2
1 Sept 2026Section 708A Cleansing Statement
1 Sept 2026Application for quotation of securities - SER
26 Aug 2026$PDiamond Drilling Commences at Canobie Project QLD
24 Aug 2026Results of Extraordinary General Meeting
11 Aug 2026Change in substantial holding
27 July 2026Application for quotation of securities - SER
27 July 2026$PResults of Share Purchase Plan
26 July 2026$PJune 2026 Quarterly Activities & Cashflow Report
24 July 2026Notice of Extraordinary General Meeting/Proxy Form
16 July 2026Section 708A Cleansing Statement
16 July 2026Completion of Acquisition of Diamantina Copper-Gold Project
16 July 2026Application for quotation of securities - SER
6 July 2026Share Purchase Plan Offer Booklet
2 July 2026Section 708A Cleansing Statement
2 July 2026Application for quotation of securities - SER
2 July 2026Update - Proposed issue of securities - SER
2 July 2026Share Purchase Plan Underwriter Execution
1 July 2026$1M Exploration Budget Approved for Bulimba Gold Project

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