Companies / SMX

STRATA MINERALS LIMITED.

ASX:SMXMaterials
400.0M shares on issueASX (delayed) · snapshot 11 Sept 2026444.5M fully diluted+11.1% if every option and right converts$0.019price · delayed$7.6Mmarket cap · indicative

Today’s holders own 90.0% of what they think they own, once every option and right converts.

High
Dilution risk

Runway under 2 quarters; share count grew 110% in 24 months; 6 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.2 quarters of funding
Share-count growth (24m)109.6%
Raise cadence (24m)6 cash raises
Options & rights overhang11.1% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

STRATA MINERALS LIMITED. ordinary shares grew 109.6% between September 2024 and May 2026, reaching 400M shares. The company raised capital six times in the past 24 months for a total disclosed proceeds of A$5.8M, most recently a A$1.0M placement in May 2026. Options on issue could convert into 44M new shares, representing 11.1% of the current share count, with no options currently in the money; the nearest expiry date is September 2027. As of the June 2026 quarter, the company held A$1.0M in cash, providing approximately 1.2 quarters of funding cover. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 9 Sept 2026
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11.1%
Options & rights overhang
0.0%
In-the-money supply
4
Raises · last 12 months
1.2 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 400.0M per ASX (delayed) (snapshot 11 Sept 2026).
200M300M400MDec 24Oct 25Sept 26Cash raise · 27 May 2026Cash raise · 21 Apr 2026Cash raise · 9 Dec 2025Cash raise · 17 Sept 2025Cash raise · 9 Apr 2025Cash raise · 6 Feb 2025400.0M

Cash runway

1.2 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
Funds operations to about Oct 2026 at the reported spend rate.
$1.0M 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: $1.7M 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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8 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
4 May 20262A · quoted issueSMX : ORDINARY FULLY PAID400.0MAppendix 2A
29 Apr 20263H · cancellationSMX : ORDINARY FULLY PAID321.2MAppendix 3H
9 Apr 20262A · quoted issueSMX : ORDINARY FULLY PAID321.2MAppendix 2A
26 Feb 20262A · quoted issueSMX : ORDINARY FULLY PAID320.0MAppendix 2A
26 Feb 20263G · unquotedSMX : ORDINARY FULLY PAID313.0MAppendix 3G
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21 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

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

every 3.1 monthsaverage gap between raises
3.5 monthssince the most recent
6 Feb 2025 – 27 May 2026first to most recent in this window
$1.0M
Placement
27 May 2026 ACTIVE
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8 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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9 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.
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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

11.1%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
44.5M
Potential new shares
Sept 2027
Nearest expiry
What a price move would switch on
22.3M44.5M$0.019 now0.25× today ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.009) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.014) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.019) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.024) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.028) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.038) — 22.5M of the priced supply in the money, 5.6% of shares on issue3× today ($0.057) — 37.3M of the priced supply in the money, 9.3% of shares on issue5× today ($0.095) — 44.5M of the priced supply in the money, 11.1% of shares on issue10× today ($0.190) — 44.5M of the priced supply in the money, 11.1% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.019 today, 0 securities are in the money (0.0% of shares on issue). At double today’s price it is 22.5M (5.6% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
SMXAVOptionsPrice-triggered$0.03016 Sept 202710.0MFiling
SMXABJOptionsPrice-triggered$0.0402 Dec 20274.8MFiling
SMXABKOptionsPrice-triggered$0.0602 Dec 20274.8MFiling
SMXABLOptionsPrice-triggered$0.0459 Apr 20287.5MFiling
SMXABMOptionsPrice-triggered$0.0305 Nov 20282.0MFiling
SMXABNOptionsPrice-triggered$0.03026 Feb 20298.0MFiling
SMXASOptionsPrice-triggered$0.03028 May 20292.5MFiling
SMXATOptionsPrice-triggered$0.04028 May 20292.5MFiling
SMXAUOptionsPrice-triggered$0.06028 May 20292.5MFiling

“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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9 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
13 July 2026Peter WoodsBuy on-market170k——$3k3Y notice
6 July 2026Peter WoodsBuy on-market855k——$14k3Y notice
29 June 2026Peter WoodsBuy on-market1.2M——$19k3Y notice
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22 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

21 Aug 2026Release of Securities from Voluntary Escrow
4 Aug 2026$PPre-Development Activities Advance at Zelica Gold Project
30 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
21 July 2026$PStrata Expands District-Scale Zelica Gold Project
21 July 2026Change in substantial holding
16 July 2026Change of Director's Interest Notice
13 July 2026Change of Director's Interest Notice
6 July 2026Change of Director's Interest Notice
3 July 2026Results of Meeting
29 June 2026Change of Director's Interest Notice
22 June 2026Change of Director's Interest Notice
17 June 2026Change of Director's Interest Notice
10 June 2026Addendum to Notice of Meeting
8 June 2026$PHigh-Grade Rock Chips Validate Extensive Gold System
2 June 2026$PHigh-Grade Gold System Confirmed at Zelica
2 June 2026Notice of General Meeting/Proxy Form
31 May 2026Proposed issue of securities - SMX
31 May 2026$PBML Ventures - Mining Services Agreement Executed
27 May 2026$PTrading Halt
19 May 2026$PHigh-Grade Gold From Phase 2 Drilling

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