SYRAH RESOURCES LIMITED
ASX:SYRMaterialsToday’s holders own 98.3% of what they think they own, once every option and right converts.
Share count grew 124% in 24 months; runway 2–4 quarters; 3 cash raises in 24 months
SYRAH RESOURCES LIMITED's ordinary share count increased 124.4% between May 2024 and May 2026, its latest share-count filing, to 2.32B shares. The company raised capital three times within that 24-month window, with total disclosed proceeds of A$278.7M, the most recent being an Accelerated Non-Renounceable Entitlement Offer in March 2026 that raised A$104.3M. Options and rights on issue could convert into 41M new shares, representing 1.8% of the current share count, with none in the money; no expiry date for these securities is on record. The company has 2 to 4 quarters of funding at the recent spend rate. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in December 2026.
Quick answers · 5
Is SYR raising capital?
Syrah Resources has 1 proposed issue of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Accelerated Non-Renounceable Entitlement Offer (ANREO) of $104.3M on 26 Mar 2026.
How much placement capacity does SYR have left?
About 89% of the 15% placement capacity left, about 11% used in 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.
How much cash does SYR have?
In its quarterly cash report for the quarter ended 30 June 2026, Syrah Resources reported $143.0M of cash and estimated 9.3 quarters of funding available at its current rate of spending. That is the company's own estimate.
How many options and rights does SYR have outstanding?
Unexercised options and rights equal 1.8% of Syrah Resources's shares on issue.
How much has SYR's share count grown?
Syrah Resources has 2.32B shares on issue as at 28 Oct 2026, up 124.4% over 24 months according to its Appendix 2A filings.
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 |
|---|---|---|---|---|
| 9 July 2026 | 3H · cancellation | SYR : ORDINARY FULLY PAID | 2.32B | Appendix 3H |
| 20 May 2026 | 2A · quoted issue | SYR : ORDINARY FULLY PAID | 2.32B | Appendix 2A |
| 20 May 2026 | 2A · quoted issue | SYR : ORDINARY FULLY PAID | 2.31B | Appendix 2A |
| 20 May 2026 | 3G · unquoted | ORDINARY FULLY PAID | 2.31B | Appendix 3G |
| 24 Apr 2026 | 2A · quoted issue | SYR : ORDINARY FULLY PAID | 2.31B | 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 · 2 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
No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 40.7M 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 |
|---|---|---|---|---|---|---|
| SYRAG | Rights | Condition-triggered | — | — | 4.2M | Filing Meeting |
| SYRAC | Performance rights | Condition-triggered | — | — | 36.5M | 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.
- SYRAFconvertible notes39 July 2026 Appendix 2A
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 24 Apr 2026 | Robert Edel | Buy entitlement/SPP | 49k | — | — | $5k | 3Y notice |
| 24 Apr 2026 | Sara Watts | Buy entitlement/SPP | 157k | — | — | $17k | 3Y notice |
| 28 Jan 2026 | Shaun Verner | Sell incentive | — | 290k | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.