Companies / SHN

SUNSHINE METALS LIMITED

ASX:SHNMaterials
3.60B shares on issueASX (delayed) · as of 28 July 2026$0.029price · delayed$107.9Mmarket cap · indicative
C
Dilution grade

Share count grew 126% in 24 months; 5 cash raises in 24 months; 9% of shares in the money

Cash runway22.5 quarters of funding
Share-count growth (24m)126.5%
Raise cadence (24m)5 cash raises
Options & rights overhang9.2% of shares
In-the-money supply9.2% of shares
Pending proposed issuesnone

SUNSHINE METALS LIMITED's ordinary share count rose 126.5% between May 2024 and June 2026 to 3.60B shares. The company raised capital five times in the 24-month window for total proceeds of A$66.4M, most recently a Placement and Share Purchase Plan that raised A$26.7M in April 2026. Options and rights on issue could convert into 332M new shares, equal to 9.2% of the current share count, with 9% of current shares in the money; the nearest expiry is November 2026. At the March 2026 quarter the company reported A$29.0M in cash, representing 22.5 quarters of cover. No proposed securities issues (Appendix 3B) are pending.

AI-generated summary of this page's cited filings · updated 28 July 2026
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9.2%
Max option dilution
9.2%
ITM option dilution
4
Raises · last 12 months
22.5 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. Latest count 3.60B per ASX (delayed) (28 July 2026).
2.01B2.59B3.17BDec 24Sept 25July 26Cash raise · 27 Apr 2026Cash raise · 27 Apr 2026Cash raise · 27 Aug 2025Cash raise · 27 Aug 2025Cash raise · 24 Mar 2025

Cash runway

22.5 qtrs
More than four quarters of funding at the recent spend rate.
$29.0M available cash at quarter ended 31 Mar 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds.
Paid plan
Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 31 Mar 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityTotal on issue afterSource
25 June 20262A · quoted issueSHN : ORDINARY FULLY PAID3.60BAppendix 2A
25 June 20263G · unquotedSHN : ORDINARY FULLY PAID3.52BAppendix 3G
9 June 20262A · quoted issueSHN : ORDINARY FULLY PAID3.52BAppendix 2A
27 May 20262A · quoted issueSHN: ORDINARY FULLY PAID3.51BAppendix 2A
7 May 20262A · quoted issueSHN : ORDINARY FULLY PAID3.23BAppendix 2A
Paid plan
Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

5 cash raises in the last 24 months · 4 in the last 12 months

$26.7M
Placement and Share Purchase Plan
27 Apr 2026 COMPLETE
Paid plan
Full raise history
Issue price, discount, brokers, purpose and tranche detail for every raise on record.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

9.2%
Total overhang · of current shares
9.2%
In the money · at current price
332.2M
Potential new shares
Nov 2026
Nearest expiry
Paid plan
Per-line options & expiry cliffs
Each option line — code, strike, expiry, quantity and ITM value — plus the expiry-cliff chart.
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Director dealings

DateDirectorTypeSharesOptionsValueSource
26 June 2026Fred WhiteBuy3.7M9.5M$100k3Y notice
28 May 2026Joanne BergaminBuy1.1M—$30k3Y notice
28 May 2026Fred WhiteBuy1.1M—$30k3Y notice
Paid plan
Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

Free account
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

22 July 2026Noosa Mining Investor Presentation
20 July 2026$PMagnetics Survey Defines High-Grade Gold Targets, Sybil
14 July 2026$PSignificant Upgrade to Liontown Resource
1 July 2026$PMt Moss Acquisition Completed & Production Pathway Advanced
26 June 2026Becoming a substantial holder
25 June 2026Notification regarding unquoted securities - SHN
25 June 2026Change of Director's Interest Notice
25 June 2026Cleansing Notice
25 June 2026Application for quotation of securities - SHN
22 June 2026Results of Meeting
15 June 2026$PSunshine commences Airborne Magnetics Survey at Sybil
9 June 2026Cleansing Notice
9 June 2026Application for quotation of securities - SHN
8 June 2026$PSunshine Divests Non-Core Hodgkinson Project
27 May 2026Change of Director's Interest Notice
27 May 2026Application for quotation of securities - SHN
27 May 2026$PShare Purchase Plan closes with overwhelming support
22 May 2026Notice of General Meeting/Proxy Form
22 May 2026General Meeting - Notice
15 May 2026Update on Sunshine Metals Share Purchase Plan

Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 July 2026.