STRATEGIC ENERGY RESOURCES LIMITED
ASX:SERMaterialsToday’s holders own 87.0% of what they think they own, once every option and right converts.
Share count grew 113% in 24 months; runway 2–4 quarters; 2 cash raises in 24 months
STRATEGIC ENERGY RESOURCES LIMITED's ordinary share count increased 113.3% between October 2024 and September 2026, its latest share-count filing, to 72M shares. This figure is adjusted for an approximately 1-for-20 share consolidation that took effect in April 2026. The company raised capital twice in the past 24 months for total disclosed proceeds of A$3.7M, most recently a Placement and Security Purchase Plan (SPP) in June 2026 raising A$1.7M. Options and rights could convert into 11M new shares, representing a 15.0% overhang; none are currently in the money, and the nearest expiry is March 2027. The company has 2 to 4 quarters of funding at the recent spend rate. Two proposed securities issues are pending, with a proposed date of November 2026.
Quick answers · 3
Is SER raising capital?
Strategic Energy Resources has 2 proposed issues of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement and Security Purchase Plan (SPP) of $1.7M on 29 June 2026.
How much cash does SER have?
In its quarterly cash report for the quarter ended 30 Sept 2026, Strategic Energy Resources reported $2.5M of cash and estimated 5.8 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do SER's options expire?
Unexercised options and rights equal 15% of Strategic Energy Resources's shares on issue; the nearest expiry is Mar 2027.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 1 Oct 2026 | 3H · cancellation | SER : ORDINARY FULLY PAID | 71.6M | Appendix 3H |
| 1 Sept 2026 | 2A · quoted issue | SER : ORDINARY FULLY PAID | 71.6M | Appendix 2A |
| 28 July 2026 | 2A · quoted issue | SER : ORDINARY FULLY PAID | 70.7M | Appendix 2A |
| 16 July 2026 | 2A · quoted issue | SER : ORDINARY FULLY PAID | 66.8M | Appendix 2A |
| 3 July 2026 | 2A · quoted issue | SER : ORDINARY FULLY PAID | 66.2M | Appendix 2A |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
2 cash raises in the last 24 months · 1 in the last 12 months
Results due
What the company's own reports say is coming, and when. A month is one the report names; “by end of year” is a deadline such as “Q4”. See every explorer on the results calendar.
- November 2026 · Canobie assay results availability (results due)
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.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
At $0.19 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.
- 450k (4.2% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| SERAF | Options | Price-triggered | $0.20 | 28 Mar 2027 | 10.3M | Filing |
| SERAE | Options | Price-triggered, no exercise price stated | — | — | 450k | Filing |
“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. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 1 Sept 2026 | Daniel Loughnan | Buy placement | 417k | — | — | — | 3Y notice |
| 1 Sept 2026 | Stuart Rechner | Buy placement | 417k | 250k | — | — | 3Y notice |
| 12 Feb 2026 | Daniel Loughnan | Buy on-market | 10.0M | — | — | $70k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.