SENTINEL METALS LIMITED
ASX:SNMMaterialsToday’s holders own 75.4% of what they think they own, once every option and right converts.
Share count grew 25% in 24 months; options/rights overhang 33% of shares; runway 4–8 quarters
Sentinel Metals Limited's share count stood at 139M shares as at August 2026, its latest market reading; share-count growth over the period is not stated because the filed Appendix 2A series ends earlier. The company raised capital twice in the past 24 months, totalling A$25.0M, most recently a A$15.0M placement in July 2026. Options and rights on issue could convert into 45M new shares, equal to 32.6% of the current share count, none of which are in the money; the nearest expiry is August 2028. The company holds more than 4 quarters of funding at the recent spend rate. No proposed securities issues are currently pending.
Quick answers · 3
When did SNM last raise capital?
The last capital raise in Sentinel Metals's filings is Placement of $15.0M announced 6 July 2026, one of 2 cash raises in 24 months.
How much cash does SNM have?
In its quarterly cash report for the quarter ended 30 June 2026, Sentinel Metals reported $3.7M of cash and estimated 2.0 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do SNM's options expire?
Unexercised options and rights equal 32.6% of Sentinel Metals's shares on issue; the nearest expiry is Aug 2028.
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 |
|---|---|---|---|---|
| 26 Aug 2026 | 2A · quoted issue | SNM : ORDINARY FULLY PAID | 65.9M | Appendix 2A |
| 26 Aug 2026 | 2A · quoted issue | SNM : ORDINARY FULLY PAID | 57.9M | Appendix 2A |
| 26 Aug 2026 | 2A · quoted issue | SNM : ORDINARY FULLY PAID | 83.1M | Appendix 2A |
| 25 Aug 2026 | 2A · quoted issue | SNM : ORDINARY FULLY PAID | 57.3M | Appendix 2A |
| 27 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).
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 · 2 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 · Updated Columbia Mineral Resource Estimate (to complete)
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
- Price-triggered37.3M · 26.8% of sharesOptions 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 sharesPerformance 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.
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, no exercise price stated | — | 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. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 26 Aug 2026 | Mark Williams | Other placement | 172k | — | — | $100k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.