Companies / VRC

VOLT RESOURCES LIMITED

ASX:VRCMaterialsSuspended from quotation
5.25B shares on issueASX (delayed) · snapshot 11 Sept 20265.58B fully diluted+6.4% if every option and right converts$0.005price · delayed—market cap · indicative

Today’s holders own 94.0% of what they think they own, once every option and right converts.

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Dilution risk

Not rated — the company is suspended from quotation

This company is suspended from ASX quotation. Scoring is paused until it resumes trading. Not rated means no assessment — not low risk.

MinimalVery high
Not placed on this scale.
Cash runway-0.3 quarters of funding
Share-count growth (24m)26.1%
Raise cadence (24m)2 cash raises
Options & rights overhang6.4% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

VOLT RESOURCES LIMITED's ordinary share count increased by 26.1% between April 2024 and April 2026, reaching 5.25B shares. In the past 24 months, the company undertook two capital raises totalling A$3.5M, with the most recent being a placement in October 2025 that raised A$2.2M. Options and rights on issue represent a potential of 335M new shares, or 6.4% of the current share count, with no options currently in the money; the nearest expiry is in May 2027. As of June 2026, the company reported negative cash of A$-146K, indicating a funding shortfall. No proposed securities issues are currently pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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6.4%
Options & rights overhang
0.0%
In-the-money supply
1
Raises · last 12 months
-0.3 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 5.25B per ASX (delayed) (snapshot 11 Sept 2026).
4.25B4.50B4.75B5.00B5.25BDec 24Oct 25Aug 26Cash raise · 30 Oct 2025Cash raise · 10 Jan 20255.25B

Cash runway

-0.3 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$-153k 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: $312k cash at quarter end (item 4.6), 3.9 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
30 Apr 20262A · quoted issueVRC : ORDINARY FULLY PAID5.25BAppendix 2A
24 Mar 20262A · quoted issueVRC : ORDINARY FULLY PAID5.24BAppendix 2A
24 Mar 20263G · unquotedVRC : ORDINARY FULLY PAID5.15BAppendix 3G
12 Mar 20263H · cancellationVRC : ORDINARY FULLY PAID5.15BAppendix 3H
16 Dec 20252A · quoted issueVRC : ORDINARY FULLY PAID5.04BAppendix 2A
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21 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

2 cash raises in the last 24 months · 1 in the last 12 months

every 9.6 monthsaverage gap between raises
10.4 monthssince the most recent
10 Jan 2025 – 30 Oct 2025first to most recent in this window
$2.2M
Placement
30 Oct 2025
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3 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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5 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 80% of the 15% placement capacity left — about 20% 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

6.4%
Options & rights overhang · of current shares
0.0%
In-the-money supply · at current price
334.7M
Potential new shares
May 2027
Nearest expiry
What this supply is, and what converts it
  • Price-triggered234.7M · 4.5% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Converts on terms100.0M · 1.9% of shares
    Convertibles with no exercise price — they convert on their own terms, so they are shares in all but name.

Exercise price on record: 234.7M priced, 100.0M 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
167.4M334.7M$0.005 now0.25× today ($0.001) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.003) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.004) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.005) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.007) — 33.8M of the priced supply in the money, 0.6% of shares on issue1.5× today ($0.008) — 48.8M of the priced supply in the money, 0.9% of shares on issue2× today ($0.011) — 48.8M of the priced supply in the money, 0.9% of shares on issue3× today ($0.017) — 234.7M of the priced supply in the money, 4.5% of shares on issue5× today ($0.027) — 234.7M of the priced supply in the money, 4.5% of shares on issue10× today ($0.055) — 234.7M of the priced supply in the money, 4.5% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.005 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 33.8M (0.6% 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.
  • 100.0M (29.9% 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
VRCAEOptionsPrice-triggered$0.0076 May 202710.0MFiling
VRCAAAOptionsPrice-triggered$0.00727 May 202710.0MFiling
VRCAFOptionsPrice-triggered$0.0072 July 20275.0MFiling
VRCAABOptionsPrice-triggered$0.00627 Sept 202723.8MFiling
VRCAGOptionsPrice-triggered$0.01111 Nov 2027185.9MFiling
VRCAACNotesConverts on terms——100.0MFiling

“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.
  • VRCAZCondition-triggered80.0M securities → 012 Mar 2026 Appendix 2A
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6 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
24 Mar 2026Mr Asimwe KabungaOther58.3M29.2M—$350k3Y notice
24 Mar 2026Mr Dominic VirgaraOther16.7M8.3M—$100k3Y notice
24 Mar 2026Trevor MatthewsOther8.3M4.2M—$50k3Y notice
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12 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

3 Aug 2026$PUpdate on Bunyu Mining Licences
30 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
15 July 2026$PZavalievsky Graphite to Launch July Production Campaign
25 May 2026$PContinuation of Suspension from Quotation
19 May 2026$PSuspension from Quotation
17 May 2026$PTrading Halt
5 May 2026Alabama Graphite Refinery - Customer Acquisition Progress
30 Apr 2026Cleansing Statement
30 Apr 2026Application for quotation of securities - VRC
28 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
22 Apr 2026VRC to Establish Alabama Customer Application and R&D Centre
6 Apr 2026Binding Term Sheet Extension
26 Mar 2026Change of Director's Interest Notice x 3
24 Mar 2026Cleansing Notice
24 Mar 2026Notification regarding unquoted securities - VRC
24 Mar 2026Application for quotation of securities - VRC
16 Mar 2026Successful HPG Production Campaign & Customer Order
13 Mar 2026Half Yearly Report and Accounts
12 Mar 2026Notification of cessation of securities - VRC
25 Feb 2026Results of Meeting

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