Companies / TMB

TAMBOURAH METALS LTD

ASX:TMBMaterials
251.8M shares on issueASX (delayed) · snapshot 11 Sept 2026286.2M fully diluted+13.7% if every option and right converts$0.037price · delayed$9.3Mmarket cap · indicative

Today’s holders own 88.0% of what they think they own, once every option and right converts.

Low
Dilution risk

Share count grew 204% in 24 months; 1 cash raise in 24 months; options/rights overhang 14% of shares

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway12.6 quarters of funding
Share-count growth (24m)203.5%
Raise cadence (24m)1 cash raise
Options & rights overhang13.7% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

TAMBOURAH METALS LTD's ordinary share count increased by 203.5% between September 2024 and February 2026, reaching 252M shares. The company conducted one capital raise in the past 24 months, a Placement and Non-Renounceable Entitlement Offer in May 2025 that raised A$948K. There are currently no proposed securities issues pending. Options on issue could convert to 34M new shares, representing 13.7% of the current share count, with the nearest expiry in October 2026. The company reported A$4.7M in cash as of the June 2026 quarter, sufficient for approximately 12.6 quarters.

AI-generated summary of this page's cited filings · updated 10 Sept 2026
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13.7%
Options & rights overhang
0.0%
In-the-money supply
0
Raises · last 12 months
12.6 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 251.8M per ASX (delayed) (snapshot 11 Sept 2026).
100M150M200M250MDec 24Oct 25Sept 26Cash raise · 22 May 2025251.8M

Cash runway

12.6 qtrs
More than four quarters of funding at the recent spend rate.
More than three years of funding at the reported spend rate — far enough out that a dated estimate would be false precision.
$4.7M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $5.0M cash at quarter end (item 4.6), 14.2 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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11 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
4 Sept 20263H · cancellationTMB : ORDINARY FULLY PAID251.8MAppendix 3H
27 Feb 20262A · quoted issueTMB : ORDINARY FULLY PAID251.8MAppendix 2A
12 Jan 20262A · quoted issueTMB : ORDINARY FULLY PAID251.6MAppendix 2A
4 Dec 20253G · unquotedTMB : ORDINARY FULLY PAID251.6MAppendix 3G
20 Nov 20252A · quoted issueTMB : ORDINARY FULLY PAID251.6MAppendix 2A
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35 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

1 cash raise in the last 24 months · 0 in the last 12 months

$948k
Placement and Non-Renounceable Entitlement Offer
22 May 2025
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5 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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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.

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9 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

About 17% of the 15% placement capacity left — about 83% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

13.7%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
34.4M
Potential new shares
Oct 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered30.4M · 12.1% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered4.0M · 1.6% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 30.4M priced, 4.0M 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.

What a price move would switch on
17.2M34.4M$0.037 now0.25× today ($0.009) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.018) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.028) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.037) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.046) — 13.5M of the priced supply in the money, 5.4% of shares on issue1.5× today ($0.055) — 13.5M of the priced supply in the money, 5.4% of shares on issue2× today ($0.074) — 13.5M of the priced supply in the money, 5.4% of shares on issue3× today ($0.111) — 13.5M of the priced supply in the money, 5.4% of shares on issue5× today ($0.185) — 18.1M of the priced supply in the money, 7.2% of shares on issue10× today ($0.370) — 30.4M of the priced supply in the money, 12.1% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.037 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 13.5M (5.4% 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.
  • 4.0M (11.6% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
TMBAMOptionsPrice-triggered$0.04514 Oct 20266.1MFiling
TMBAJOptionsPrice-triggered$0.2015 Oct 2026300kFiling
TMBAKOptionsPrice-triggered$0.1231 Mar 2027600kFiling
TMBAROptionsPrice-triggered$0.04014 July 20273.3MFiling
TMBASOptionsPrice-triggered$0.04016 July 20273.6MFiling
TMBAHOptionsPrice-triggered$0.3516 Aug 20272.0MFiling
TMBATOptionsPrice-triggered$0.159 Oct 20274.0MFiling
TMBAVOptionsPrice-triggered$0.04030 Nov 2027500kFiling
TMBAUOptionsPrice-triggered$0.2530 Nov 202710.0MFiling
TMBAIPerformance rightsCondition-triggered——4.0MFiling 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.

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.

1 class ceased in the last 12 months and is not counted above
The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.
  • TMBAPPrice-triggered743k securities → 020 Oct 2025 Appendix 2A
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10 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
27 July 2026Rita BrooksOther off-market260k4.0M——3Y notice
12 June 2026Rita BrooksBuy on-market113k———3Y notice
12 June 2026Rita BrooksOther on-market113k4.0M——3Y notice
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17 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

4 Sept 2026Notification of cessation of securities - TMB
1 Sept 2026Bryah Gold Drilling Completed
19 Aug 2026Drilling Commences at Bryah Gold Targets
10 Aug 2026RC Drilling commences at Beatty Park South
3 Aug 2026Investor Presentation
31 July 2026Change of Director's Interest Notice
30 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
26 July 2026$PTMB expands Lithium Projects with CSIRO Collaboration
10 July 2026Drilling Commences at Tambourah King
8 July 2026Investor Webinar
1 July 2026Drilling Planned for Beatty Park Sth
1 July 2026RC Drilling Commences at Tambourah King
18 June 2026Change of Director's Interest Notice and Amendment
16 June 2026Change of Director's Interest Notice
5 May 2026RIU Investor Presentation Sydney
29 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
27 Apr 2026$PBeatty Park Sth EIS Co-Funding and T1 Drilling
31 Mar 2026AMEC Investor Presentation
23 Mar 2026Change of Director's Interest Notice
15 Mar 2026Half Yearly Report and Accounts

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.