Companies / VMC

VENUS METALS CORPORATION LIMITED

ASX:VMCMaterials
207.2M shares on issueASX (delayed) · snapshot 11 Sept 2026212.4M fully diluted+2.5% if every option and right converts$0.16price · delayed$33.1Mmarket cap · indicative

Today’s holders own 97.5% of what they think they own, once every option and right converts.

Minimal
Dilution risk

Share count grew 6% in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runwaycash-generative (no net burn)
Share-count growth (24m)5.6%
Raise cadence (24m)0 cash raises
Options & rights overhang2.5% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

VENUS METALS CORPORATION LIMITED's ordinary share count grew 5.6% between September 2024 and September 2026, reaching 207M shares. The company did not undertake any capital raises in the past 24 months. Options and rights on issue represent potential new shares equivalent to 2.5% of the current share count, with the nearest expiry in November 2028; none of these are currently in the money. As of the June 2026 quarter, the company reported A$85.4M in available cash and non-negative net cash flow, meaning no funding-runway figure is applicable. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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2.5%
Options & rights overhang
0.0%
In-the-money supply
0
Raises · last 12 months
No net burn
Cash cover · cash-generative

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 207.2M per ASX (delayed) (snapshot 11 Sept 2026).
197.5M200.0M202.5M205.0M207.5MDec 24Oct 25Sept 26207.2M

Cash runway

—
The latest quarterly report shows no net cash burn, so there is no cash-out date.
$85.9M 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: $48.0M cash at quarter end (item 4.6), 55.1 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
10 Sept 20263G · unquotedVMC : ORDINARY FULLY PAID207.2MAppendix 3G
4 Sept 20262A · quoted issueVMC : ORDINARY FULLY PAID207.2MAppendix 2A
2 July 20262A · quoted issueVMC : ORDINARY FULLY PAID206.3MAppendix 2A
19 June 20262A · quoted issueVMC : ORDINARY FULLY PAID198.2MAppendix 2A
30 Jan 20263G · unquotedVMC : ORDINARY FULLY PAID197.6MAppendix 3G
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11 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

No equity raises in the last 24 months.
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2 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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2 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.

No Appendix 3B in the last 12 months reports an issue under the 15% placement capacity (as at 2026-09-12).
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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

2.5%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
5.3M
Potential new shares
Nov 2028
Nearest expiry
What a price move would switch on
2.6M5.3M$0.16 now0.25× today ($0.04) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.08) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.12) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.16) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.20) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.24) — 1.0M of the priced supply in the money, 0.5% of shares on issue2× today ($0.32) — 5.3M of the priced supply in the money, 2.5% of shares on issue3× today ($0.48) — 5.3M of the priced supply in the money, 2.5% of shares on issue5× today ($0.80) — 5.3M of the priced supply in the money, 2.5% of shares on issue10× today ($1.60) — 5.3M of the priced supply in the money, 2.5% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.16 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.5× today’s price, which takes it to 1.0M (0.5% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
—OptionsPrice-triggered$0.2030 Nov 20281.0MFiling
VMCAAOptionsPrice-triggered$0.3030 Nov 20284.3MFiling

“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.

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.
  • VMCAFCondition-triggered8.1M securities → 02 July 2026 Appendix 2A
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2 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
4 Sept 2026Matthew HoganOther3.6M1.9M4.5M$297k3Y notice
4 Sept 2026Selvakumar ArunachalamOther100k——$30k3Y notice
3 July 2026Matthew HoganOther incentive4.0M1.9M4.0M—3Y notice
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16 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

10 Sept 2026Notification regarding unquoted securities - VMC
10 Sept 2026Change of Director's Interest Notice x 2
9 Sept 2026Results of Meeting
8 Sept 20262026 AGM Address and Voting Information
7 Sept 2026Update - Dividend/Distribution - VMC
4 Sept 2026Application for quotation of securities - VMC
24 Aug 2026$PEncouraging Gold Results Bellchambers Gold Deposit
23 Aug 2026Appointment of Senior Exploration Manager
9 Aug 2026Dividend/Distribution - VMC
9 Aug 2026$PDeclaration of Special Cash Dividend $35 million
7 Aug 2026Notice of Annual General Meeting/Proxy Form
31 July 2026Appendix 4G
31 July 2026Annual Report to shareholders
21 July 20262026 Annual General Meeting - Key Dates
8 July 2026Change in substantial holding
6 July 2026$PRC Drilling commences at Bellchambers Gold Project
6 July 2026Change of Director's Interest Notice x3
6 July 2026Becoming a substantial holder
5 July 2026$PDeclaration of special dividend of Rox Shares
5 July 2026Dividend/Distribution - VMC

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