TARUGA MINERALS LIMITED
ASX:TARMaterialsToday’s holders own 84.8% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 42% in 24 months; options/rights overhang 18% of shares
TARUGA MINERALS LIMITED's ordinary share count grew 42.2% between May 2025 and October 2026, its latest share-count filing, to 1.02B shares. The company raised capital once in the 24-month window, a A$1.5M placement in December 2025, for total disclosed proceeds of A$1.5M. Options and rights on issue could convert into 181M new shares, equal to 17.9% of the current share count, of which 12% are in the money at the current share price; the nearest expiry falls in November 2027. The company has under 2 quarters of funding at the recent spend rate. Two proposed securities issues (Appendix 3B) are pending, with the nearest expected issue date in December 2026.
Quick answers · 5
Is TAR raising capital?
Taruga Minerals has 2 proposed issues of securities pending under Appendix 3B as at 28 Oct 2026; the most recent raise announced is Placement of $1.5M on 15 Dec 2025.
How much placement capacity does TAR have left?
About 83% of the 15% placement capacity left, about 17% 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 TAR have?
In its quarterly cash report for the quarter ended 30 June 2026, Taruga Minerals reported $1.8M of cash and estimated 3.3 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do TAR's options expire?
Unexercised options and rights equal 17.9% of Taruga Minerals's shares on issue; the nearest expiry is Nov 2027.
How much has TAR's share count grown?
Taruga Minerals has 1.02B shares on issue as at 28 Oct 2026, up 42.2% 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 |
|---|---|---|---|---|
| 21 Oct 2026 | 2A · quoted issue | TAR : ORDINARY FULLY PAID | 1.02B | Appendix 2A |
| 21 Sept 2026 | 2A · quoted issue | TAR : ORDINARY FULLY PAID | 955.2M | Appendix 2A |
| 3 Sept 2026 | 2A · quoted issue | TAR : ORDINARY FULLY PAID | 950.2M | Appendix 2A |
| 21 Aug 2026 | 2A · quoted issue | TAR : ORDINARY FULLY PAID | 949.5M | Appendix 2A |
| 20 July 2026 | 2A · quoted issue | TAR : ORDINARY FULLY PAID | 946.1M | 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
1 cash raise 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
At $0.021 today, 126.5M securities are in the money (12.5% of shares on issue). No more priced supply until 1.25× today’s price, which takes it to 181.5M (17.9% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| TARAX | Options | Price-triggered | $0.015 | 22 Nov 2027 | 126.5M | Filing |
| TARAAA | Options | Price-triggered | $0.025 | 4 Mar 2029 | 10.0M | Filing |
| TARAZ | Options | Price-triggered | $0.025 | 4 Mar 2031 | 45.0M | 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 |
|---|---|---|---|---|---|---|---|
| 20 Oct 2026 | Eric de Mori | Buy | 30.0M | — | — | $750k | 3Y notice |
| 20 Oct 2026 | Paul Cronin | Buy | 30.0M | — | — | $750k | 3Y notice |
| 4 Aug 2026 | Eric de Mori | Buy on-market | 2.6M | — | — | $54k | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.