SUREFIRE RESOURCES NL
ASX:SRNMaterialsToday’s holders own 60.1% of what they think they own, once every option and right converts.
Share count grew 185% in 24 months; runway 2–4 quarters; 4 cash raises in 24 months
SUREFIRE RESOURCES NL's ordinary share count grew 184.7% between March 2024 and October 2026, its latest share-count filing, after adjusting for a share consolidation of approximately 1-for-25 in May 2026, resulting in an adjusted latest count of 226M shares. It raised capital four times in the past 24 months for total proceeds of A$9.0M, the most recent being a Placement and Non-Renounceable Entitlement Offer in October 2026 raising A$2.7M. Options and rights could add 150M new shares (66.3% overhang), none in-the-money, with nearest expiry November 2026. Cash is estimated to provide 2 to 4 quarters of funding at the recent spend rate. Four proposed securities issues are pending, the nearest with an expected issue date in November 2026.
Quick answers · 4
Why was SRN in a trading halt?
Surefire Resources requested a trading halt on 1 Oct 2026, giving the reason "Pending release of announcement regarding an equity placement and a rights issue". Trading was expected to resume 5 Oct 2026.
Is SRN raising capital?
Surefire Resources has 4 proposed issues of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement and Non-Renounceable Entitlement Offer of $2.7M on 5 Oct 2026.
How much cash does SRN have?
In its quarterly cash report for the quarter ended 30 June 2026, Surefire Resources reported $696k of cash and estimated 2.2 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do SRN's options expire?
Unexercised options and rights equal 66.3% of Surefire Resources's shares on issue; the nearest expiry is Nov 2026.
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 |
|---|---|---|---|---|
| 19 Oct 2026 | 2A · quoted issue | SRN : ORDINARY FULLY PAID | 226.2M | Appendix 2A |
| 7 Oct 2026 | 2A · quoted issue | SRN : ORDINARY FULLY PAID | 181.2M | Appendix 2A |
| 7 Oct 2026 | 3H · cancellation | ORDINARY FULLY PAID | 181.2M | Appendix 3H |
| 28 May 2026 | 2A · quoted issue | SRN : ORDINARY FULLY PAID | 181.2M | Appendix 2A |
| 26 May 2026 | 2A · quoted issue | SRN : ORDINARY FULLY PAID | 168.0M | Appendix 2A |
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
Retail offer
An offer existing holders can take part in — the one structural advantage retail has in a raise. Dated recently and not yet recorded as complete.
Closing dates are not in the filings this site holds. Check the company's own announcement below before acting on this.
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
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 150.0M 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 |
|---|---|---|---|---|---|---|
| SRNOD | Options | Price-triggered, no exercise price stated | — | 30 Nov 2026 | 14.0M | Filing |
| SRNOE | Options | Price-triggered, no exercise price stated | — | 11 July 2027 | 45.4M | Filing |
| SRNO | Options | Price-triggered, no exercise price stated | — | 30 June 2029 | 90.6M | 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 |
|---|---|---|---|---|---|---|---|
| 7 Oct 2026 | Michael Povey | Sell | — | — | 72k | — | 3Y notice |
| 7 Oct 2026 | Roger Smith | Sell | — | — | 59k | — | 3Y notice |
| 7 Oct 2026 | Vladimir Nikolaenko | Sell | — | — | 2.7M | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.