VERITY RESOURCES LIMITED
ASX:VRLMaterialsToday’s holders own 65.0% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 209% in 24 months; 4 cash raises in 24 months; since relisting as VRL; prior history under SI6 not included
VERITY RESOURCES LIMITED renamed in December 2024, and its share-count figures cover only the period since then. Between December 2024 and March 2026, its latest share-count filing, ordinary shares grew 209.3% to 491M. The company raised capital four times in that window for total disclosed proceeds of A$6.5M, most recently a A$2.0M Non-Renounceable Entitlement Offer in February 2026. Options and rights on issue could convert into 264M new shares, equal to 53.8% of the current share count, none are in the money; the nearest expiry is November 2027. The company has under 2 quarters of funding at the recent spend rate. No proposed securities issues are pending.
Quick answers · 4
When did VRL last raise capital?
The last capital raise in Verity Resources's filings is Non-Renounceable Entitlement Offer of $2.0M announced 3 Feb 2026, one of 4 cash raises in 24 months.
How much placement capacity does VRL have left?
None of the 15% placement capacity counted as used in the last 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does VRL have?
In its quarterly cash report for the quarter ended 30 June 2026, Verity Resources reported $1.0M of cash and estimated 1.4 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do VRL's options expire?
Unexercised options and rights equal 53.8% of Verity Resources's shares on issue; the nearest expiry is Nov 2027.
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 |
|---|---|---|---|---|
| 18 Mar 2026 | 2A · quoted issue | VRL : ORDINARY FULLY PAID | 491.0M | Appendix 2A |
| 11 Mar 2026 | 2A · quoted issue | VRL : ORDINARY FULLY PAID | 491.0M | Appendix 2A |
| 11 Mar 2026 | 3G · unquoted | VRL : ORDINARY FULLY PAID | 409.1M | Appendix 3G |
| 10 Feb 2026 | 3G · unquoted | VRL : ORDINARY FULLY PAID | 406.5M | Appendix 3G |
| 9 Feb 2026 | 2A · quoted issue | VRL : ORDINARY FULLY PAID | 409.1M | Appendix 2A |
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
4 cash raises in the last 24 months · 1 in the last 12 months · counted since relisting as VRL (9 Dec 2024); prior history under SI6 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
- Price-triggered259.5M · 52.9% of sharesOptions and warrants — they convert when the share price clears their exercise price.
- Condition-triggered4.5M · 0.9% of sharesPerformance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.
Exercise price on record: 259.5M priced, 4.5M 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.
At $0.009 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 111.5M (22.7% 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.
- 4.5M (1.7% 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 |
|---|---|---|---|---|---|---|
| VRLAA | Options | Price-triggered | $0.048 | 13 Nov 2027 | 41.7M | Filing |
| VRLAL | Options | Price-triggered | $0.022 | 19 Mar 2028 | 111.5M | Filing |
| VRLAB | Options | Price-triggered | $0.036 | 13 Nov 2028 | 17.0M | Filing |
| VRLAN | Options | Price-triggered | $0.036 | 3 Dec 2028 | 7.5M | Filing |
| VRLAP | Options | Price-triggered | $0.036 | 11 Mar 2031 | 81.8M | Filing |
| VRLAQ | Performance rights | Condition-triggered | — | — | 4.5M | Filing 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. For what expires soon across other listed companies, see the options expiry calendar.
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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 11 Mar 2026 | Patrick Antonio Volpe | Buy entitlement/SPP | 34.1M | 34.1M | — | $852k | 3Y notice |
| 11 Mar 2026 | Paul Andrew George Dickson | Other entitlement/SPP | 4.0M | 4.0M | — | $100k | 3Y notice |
| 13 Nov 2025 | Elvis Mosweu | Other incentive | — | 2.0M | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.