SARAMA RESOURCES LTD
ASX:SRRMaterialsToday’s holders own 79.5% of what they think they own, once every option and right converts.
Share count grew 141% in 24 months; 2 cash raises in 24 months; options/rights overhang 26% of shares
SARAMA RESOURCES LTD had 504M shares on issue as of June 2026, according to the ASX market reading; the company’s filed 2A series ends earlier so share-count growth over the window is not stated. In the past 24 months, the company raised capital twice, totaling A$4.2M, most recently a A$1.5M placement in May 2026. Options and rights on issue could convert into 130M new shares, representing 25.8% of current shares, with the nearest expiry in December 2026; none of these options are in the money at the current share price. The company has no current quarterly or half-year/annual cash report runway figure on record. No proposed securities issues are pending.
Quick answers · 3
When did SRR last raise capital?
The last capital raise in Sarama Resources's filings is Placement of $1.5M announced 20 May 2026, one of 2 cash raises in 24 months.
How much placement capacity does SRR have left?
None of the 15% placement capacity counted as used in the last 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
When do SRR's options expire?
Unexercised options and rights equal 25.8% of Sarama Resources's shares on issue; the nearest expiry is Dec 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 |
|---|---|---|---|---|
| 27 Oct 2026 | 2A · quoted issue | SRR : CHESS DEPOSITARY INTERESTS 1:1 | 402.6M | Appendix 2A |
| 27 Oct 2026 | 3G · unquoted | SRR : CHESS DEPOSITARY INTERESTS 1:1 | 400.2M | Appendix 3G |
| 1 Sept 2026 | 3G · unquoted | CHESS DEPOSITARY INTERESTS 1:1 | 400.7M | Appendix 3G |
| 22 June 2026 | 3H · cancellation | SRR : CHESS DEPOSITARY INTERESTS | 402.9M | Appendix 3H |
| 15 June 2026 | 3H · cancellation | SRR : CHESS DEPOSITARY INTERESTS 1:1 | 402.9M | 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 (402.6M) need not equal the current count above (503.6M).
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 · 1 in the last 12 months
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-triggered101.8M · 20.2% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered28.1M · 5.6% 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: 101.8M priced, 28.1M 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.
At $0.027 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 9.9M (2.0% 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.
- 28.1M (21.6% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| SRRAQ | Options | Price-triggered | $0.050 | 5 Dec 2026 | 7.5M | Filing |
| SRRAP | Options | Price-triggered | $0.030 | 23 July 2027 | 9.9M | Filing |
| SRRAT | Options | Price-triggered | $0.040 | 2 Apr 2028 | 4.5M | Filing |
| SRRAR | Options | Price-triggered | $0.090 | 30 Nov 2028 | 79.8M | Filing |
| SRRAS | Performance rights | Condition-triggered | — | — | 28.1M | Filing Meeting |
“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.
A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | Adrian Byass | Other incentive | 1.4M | 2.0M | 2.5M | — | 3Y notice |
| 27 Oct 2026 | Andrew Dinning | Other incentive | 19.3M | 3.0M | 3.3M | $37k | 3Y notice |
| 27 Oct 2026 | Michael Bohm | Other incentive | 967k | 167k | 2.5M | $20k | 3Y notice |
| 27 Oct 2026 | Simon Jackson | Other incentive | 3.8M | 750k | 2.5M | $25k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.