SUNSHINE METALS LIMITED
ASX:SHNMaterialsToday’s holders own 92.8% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 127% in 24 months; 3 cash raises in 24 months
Between May 2024 and August 2026, its latest share-count filing, SUNSHINE METALS LIMITED's ordinary share count rose 126.6% to 3.60B shares. The company completed 3 capital raises in the past 24 months for total disclosed proceeds of A$34.7M, most recently a Placement and Share Purchase Plan in April 2026 raising A$26.7M. Options and rights on issue could convert into 278M new shares, equal to 7.7% of the current share count, of which 6% are in the money at the current share price; the nearest expiry falls in November 2026. The company has under 2 quarters of funding at the recent spend rate. No proposed securities issues are pending.
Quick answers · 5
When did SHN last raise capital?
The last capital raise in Sunshine Metals's filings is Placement and Share Purchase Plan of $26.7M announced 30 Apr 2026, one of 3 cash raises in 24 months.
How much placement capacity does SHN have left?
None of the 15% placement capacity counted as used in the last 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does SHN have?
In its quarterly cash report for the quarter ended 30 June 2026, Sunshine Metals reported $20.6M of cash and estimated 11.0 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do SHN's options expire?
Unexercised options and rights equal 7.7% of Sunshine Metals's shares on issue; the nearest expiry is Nov 2026.
How much has SHN's share count grown?
Sunshine Metals has 3.60B shares on issue as at 28 Oct 2026, up 126.6% over 24 months according to its Appendix 2A filings.
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 | 3G · unquoted | SHN : ORDINARY FULLY PAID | 3.60B | Appendix 3G |
| 20 Aug 2026 | 2A · quoted issue | SHN : ORDINARY FULLY PAID | 3.60B | Appendix 2A |
| 30 July 2026 | 2A · quoted issue | SHN : ORDINARY FULLY PAID | 3.60B | Appendix 2A |
| 26 June 2026 | 2A · quoted issue | SHN : ORDINARY FULLY PAID | 3.60B | Appendix 2A |
| 26 June 2026 | 3G · unquoted | SHN : ORDINARY FULLY PAID | 3.52B | Appendix 3G |
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
3 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 · Airborne magnetic-radiometric survey extension (to start)
- November 2026 · Liontown Base Metal Mining Study (to start)
- November 2026 · Sybil magnetic survey extension (to start)
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 $0.025 today, 228.0M securities are in the money (6.3% of shares on issue). At double today’s price it is 263.0M (7.3% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| SHNAI | Options | Price-triggered | $0.021 | 27 Nov 2026 | 15.0M | Filing |
| SHNAK | Options | Price-triggered | $0.015 | 21 May 2027 | 94.6M | Filing |
| SHNAG | Options | Price-triggered | $0.022 | 30 June 2027 | 21.7M | Filing |
| SHNAH | Options | Price-triggered | $0.022 | 7 July 2027 | 20.0M | Filing |
| SHNAJ | Options | Price-triggered | $0.017 | 4 Dec 2027 | 9.5M | Filing |
| SHNAM | Options | Price-triggered | $0.018 | 13 June 2028 | 32.2M | Filing |
| SHNAO | Options | Price-triggered | $0.018 | 4 Nov 2028 | 35.0M | Filing |
| SHNAP | Options | Price-triggered | $0.041 | 26 June 2029 | 35.0M | Filing |
| — | Options | Price-triggered | $0.060 | 1 Oct 2029 | 14.5M | 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 |
|---|---|---|---|---|---|---|---|
| 26 June 2026 | Fred White | Buy placement | 3.7M | 9.5M | — | $100k | 3Y notice |
| 28 May 2026 | Alec Christopher Pismiris | Buy entitlement/SPP | 741k | — | — | $30k | 3Y notice |
| 28 May 2026 | Fred White | Buy entitlement/SPP | 1.1M | — | — | $30k | 3Y notice |
| 28 May 2026 | Joanne Bergamin | Buy entitlement/SPP | 1.1M | — | — | $30k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.