SENTINEL METALS LIMITED

ASX:SNMMaterials

139.2M shares on issueASX (delayed) · snapshot 11 Sept 2026184.6M fully diluted+32.6% if every option and right converts$0.58price · delayed$81.5Mmarket cap · indicative

Today’s holders own 75.4% of what they think they own, once every option and right converts.

Moderate

Dilution riskprovisional — limited history

Share count grew 25% in 24 months; options/rights overhang 33% of shares; runway 4–8 quarters

Absolute levels — not a ranking against other companies.

Cash runway7.3 quarters of funding

Share-count growth (24m)24.8%measured to the latest Appendix 2A, not to the share count above

Raise cadence (24m)2 cash raises

Options & rights overhang32.6% of shares

In-the-money supplyno data — no exercise price on record

Pending proposed issuesnone

SENTINEL METALS LIMITED had 139M shares on issue as of August 2026. The company has made two capital raises totalling A$25.0M in the past 24 months, with the most recent being a A$15.0M placement in July 2026. There are potential new shares of 45M from options on issue, representing 32.6% of the current share count, with no options in the money and the nearest expiry in August 2028. As of the June 2026 quarter, the company held A$16.8M in cash, sufficient for approximately 7.3 quarters. No proposed securities issues are currently pending. The provided share count movement does not state growth over the specified window.

AI-generated summary of this page's cited filings · updated 10 Sept 2026

Get told when this changes

Set up alerts

Daily email alerts cover risk-level moves, new raises, pending proposed issues and option expiries for the companies you follow.

32.6%

Options & rights overhang

—

In-the-money supply · no stated strikes

Raises · last 12 months

7.3 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 139.2M per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

7.3 qtrs

More than four quarters of funding at the recent spend rate.

Funds operations to about Apr 2028 at the reported spend rate.

$16.8M 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: $3.7M cash at quarter end (item 4.6), 2.0 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.

Free account

3 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.

Free account: 2 full company unlocks every month, no card.

Create free account See plans

Issuance timeline

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

Date	Form	Security	On issue, per this filing	Source
25 Aug 2026	2A · quoted issue	SNM : ORDINARY FULLY PAID	65.9M	Appendix 2A
25 Aug 2026	2A · quoted issue	SNM : ORDINARY FULLY PAID	57.9M	Appendix 2A
25 Aug 2026	2A · quoted issue	SNM : ORDINARY FULLY PAID	83.1M	Appendix 2A
24 Aug 2026	2A · quoted issue	SNM : ORDINARY FULLY PAID	57.3M	Appendix 2A
26 Jan 2026	3H · cancellation	SNM : ORDINARY FULLY PAID	54.4M	Appendix 3H

Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (65.9M) need not equal the current count above (139.2M).

Free account

5 filings on record — Full issuance history

Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).

Free account: 2 full company unlocks every month, no card.

Create free account See plans

Capital raises

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

every 8.1 monthsaverage gap between raises

2.4 monthssince the most recent

28 Oct 2025 – 1 July 2026first to most recent in this window

$15.0M

Placement

1 July 2026 COMPLETE

Free account

2 raises on record — Full raise history

Issue price, shares issued, brokers and stated purpose for every raise on record.

Free account: 2 full company unlocks every month, no card.

Create free account See plans

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.

Free account

1 dated event on record — Forward supply calendar

Option expiries and proposed issues on one forward timeline, with the securities each could add.

Free account: 2 full company unlocks every month, no card.

Create free account See plans

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 — this company listed less than 12 months ago, so its 15% capacity is measured from its listing date rather than from a year back.

Free account

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.

Free account: 2 full company unlocks every month, no card.

Create free account See plans

Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

32.6%

Options & rights overhang · of current shares

—

In-the-money supply · no stated strikes

45.4M

Potential new shares

Aug 2028

Nearest expiry

What this supply is, and what converts it

Price-triggered37.3M · 26.8% of shares
Options and warrants — they convert when the share price clears their exercise price.
No exercise price is on record for any of it, so none of it can be called in or out of the money.
Condition-triggered8.1M · 5.8% of shares
Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 0 priced, 45.4M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on

No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 45.4M of it converts on something else — a hurdle that may never be met, or terms the filing does not price.

Code	Security	Type	Exercise price	Expiry	On issue	Source
SNMAC	Options	Price-triggered	—	28 Aug 2028	37.3M	Filing
SNMAD	Performance rights	Condition-triggered	—	—	8.1M	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.

Free account

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.

Free account: 2 full company unlocks every month, no card.

Create free account See plans