Companies / TMX

TERRAIN MINERALS LIMITED

ASX:TMXMaterials
3.71B shares on issueASX (delayed) · as of 28 July 2026$0.003price · delayed$11.1Mmarket cap · indicative
F
Dilution grade

Runway under 2 quarters; share count grew 159% in 24 months; 9 cash raises in 24 months

Cash runway0.9 quarters of funding
Share-count growth (24m)159.2%
Raise cadence (24m)9 cash raises
Options & rights overhang41.8% of shares
In-the-money supply0.0% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

TERRAIN MINERALS LIMITED's ordinary share count grew 159.2% between January 2024 and May 2026, to 3.71B shares. The company raised capital nine times in that period for total disclosed proceeds of A$9.3M, most recently A$1.5M in April 2026. Options and rights on issue could convert into 1.55B new shares, equal to 41.8% of the current share count, with 0% of current shares in the money and the nearest expiry in December 2026. At the June 2026 quarter the company reported A$1.0M in available cash, about 0.9 quarters of funding at its recent spending rate. No proposed securities issues (Appendix 3B) are pending.

AI-generated summary of this page's cited filings · updated 28 July 2026
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41.8%
Max option dilution
0.0%
ITM option dilution
3
Raises · last 12 months
0.9 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 3.71B per ASX (delayed) (28 July 2026).
2.20B2.76B3.31BDec 24Sept 25July 26Cash raise · 29 Apr 2026Cash raise · 4 Dec 2025Cash raise · 27 Oct 2025Cash raise · 9 May 2025Cash raise · 24 Apr 2025Cash raise · 17 Apr 2025Cash raise · 29 Jan 2025Cash raise · 17 Jan 2025

Cash runway

0.9 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$1.0M available cash at quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds.
Paid plan
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)

DateFormSecurityTotal on issue afterSource
11 May 20262A · quoted issueTMX : ORDINARY FULLY PAID3.71BAppendix 2A
11 May 20262A · quoted issueTMX : ORDINARY FULLY PAID3.34BAppendix 2A
3 Feb 20262A · quoted issueTMX : ORDINARY FULLY PAID3.33BAppendix 2A
3 Feb 20262A · quoted issueTMX : ORDINARY FULLY PAID3.23BAppendix 2A
15 Dec 20252A · quoted issueTMX : ORDINARY FULLY PAID3.22BAppendix 2A
Paid plan
Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

9 cash raises in the last 24 months · 3 in the last 12 months

$1.5M
Capital raise
29 Apr 2026
Paid plan
Full raise history
Issue price, discount, brokers, purpose and tranche detail for every raise on record.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

41.8%
Total overhang · of current shares
0.0%
In the money · at current price
1.55B
Potential new shares
Dec 2026
Nearest expiry
Paid plan
Per-line options & expiry cliffs
Each option line — code, strike, expiry, quantity and ITM value — plus the expiry-cliff chart.
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Director dealings

DateDirectorTypeSharesOptionsValueSource
10 July 2026MR JUSTIN VIRGINBuy5.0M—$15k3Y notice
3 Feb 2026MR JUSTIN VIRGINBuy111.3M—$10.0M3Y notice
25 Nov 2025MR JUSTIN VIRGINSell124.5M8.0M—3Y notice
Paid plan
Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

Free account
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

26 July 2026$PLightning Maiden 54koz Gold MRE Sets Growth Platform
21 July 2026$PQuarterly Activities and Cashflow Report
12 July 2026Appendix 3Y - Justin Virgin
30 June 2026$PExtensive Rare Earth System Emerging at Lort River
10 June 2026Investor Presentation - June 2026 Update
8 June 2026$PDrilling Confirms Open Gold-Silver System at Wildflower
3 June 2026$PCoherent Multi-Element Gold-Pathfinder Anomaly at Carlindie
25 May 2026$PIP Survey Expanded to Test Paradise City, Hurley & T17
20 May 2026$PLightning Gold MRE Activities Advancing to July 26 Target
18 May 2026Metallurgical Test Work Commences at Lightning Gold Project
12 May 2026$PNew IP Program Targets Repetition of the Lightning Discovery
11 May 2026Application for quotation of securities - TMX
11 May 2026Application for quotation of securities - TMX
11 May 2026Issue of Shares
4 May 2026Investor Presentation - RIU Conference Sydney 2026
3 May 2026Proposed issue of securities - TMX
3 May 2026$PPlacement Firm Bids $1,500,000
29 Apr 2026Investor Presentation - April 2026
29 Apr 2026$PQuarterly Activities and Cashflow Report
29 Apr 2026$PTrading Halt

Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 July 2026.