US1 CRITICAL MINERALS LIMITED
ASX:USCMaterialsToday’s holders own 58.4% of what they think they own, once every option and right converts.
Runway under 2 quarters; 3 cash raises in 24 months; options/rights overhang 71% of shares; since relisting as USC; prior history under GLA not included
US1 CRITICAL MINERALS LIMITED's ordinary share count grew 5.2% between February 2026 and August 2026, its latest share-count filing, to 1.01B shares. The company raised capital three times in the past 24 months for total disclosed proceeds of A$3.7M, most recently a A$1.0M placement in April 2026. Options and rights on issue could convert into 721M new shares, equal to 71.1% of the current share count, of which 26% are in the money at the current share price; the nearest expiry falls in December 2026. No funding-runway figure applies as, at the reported spend rate, the reported cash would since have been used up and no later cash report is on record. No proposed securities issues are pending.
Quick answers · 3
When did USC last raise capital?
The last capital raise in Us1 Critical Minerals's filings is Placement of $1.0M announced 28 Apr 2026, one of 3 cash raises in 24 months.
How much cash does USC have?
In its quarterly cash report for the quarter ended 30 June 2026, Us1 Critical Minerals reported $303k of cash and estimated 0.2 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do USC's options expire?
Unexercised options and rights equal 71.1% of Us1 Critical Minerals'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 |
|---|---|---|---|---|
| 11 Aug 2026 | 2A · quoted issue | USC : ORDINARY FULLY PAID | 1.01B | Appendix 2A |
| 28 July 2026 | 3G · unquoted | USC : ORDINARY FULLY PAID | 1.01B | Appendix 3G |
| 26 May 2026 | 2A · quoted issue | USC : ORDINARY FULLY PAID | 1.01B | Appendix 2A |
| 26 May 2026 | 3G · unquoted | USC : ORDINARY FULLY PAID | 963.9M | Appendix 3G |
| 9 Mar 2026 | 3G · unquoted | USC : ORDINARY FULLY PAID | 963.9M | Appendix 3G |
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 · counted since relisting as USC (1 Dec 2025); prior history under GLA is not included
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 $0.018 today, 260.0M securities are in the money (25.6% of shares on issue) — a floor, because an exercise price is on record for only 45.7% of this supply. No more priced supply until 1.25× today’s price, which takes it to 288.0M (28.4% 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.
- 391.5M (54.3% 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 |
|---|---|---|---|---|---|---|
| USCAD | Options | Price-triggered | $0.050 | 31 Dec 2026 | 16.5M | Filing |
| USCAR | Options | Price-triggered | $0.020 | 31 Aug 2027 | 3.0M | Filing |
| USCAA | Options | Price-triggered | $0.012 | 30 Sept 2027 | 200.0M | Filing |
| USCAS | Options | Price-triggered | $0.015 | 8 Mar 2029 | 60.0M | Filing |
| USCO | Options | Price-triggered, no exercise price stated | — | 31 Mar 2029 | 391.5M | Filing |
| USCAB | Options | Price-triggered | $0.025 | 26 May 2029 | 25.0M | Filing |
| USCAC | Options | Price-triggered | $0.020 | 31 May 2029 | 25.0M | 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 |
|---|---|---|---|---|---|---|---|
| 9 Mar 2026 | Avi Geller | Other | — | 60.0M | — | — | 3Y notice |
| 20 Feb 2026 | Matthew Boysen | Other | 44.8M | 9.0M | — | — | 3Y notice |
| 20 Feb 2026 | Peter Tsegas | Other | — | 2.5M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.