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's ordinary share count expanded by 231.1% between December 2024 and March 2026, reaching 491M shares. The company raised capital four times in the 24-month period for a total of A$6.5M. The latest raise was a A$2.0M Non-Renounceable Entitlement Offer in January 2026. Options and rights on issue could convert into 264M new shares, representing 53.8% of the current share count, with the nearest expiry in November 2027; none of these are currently in the money. As of the June 2026 quarter, the company reported A$374K in available cash, covering approximately 0.5 quarters of its expenses. No proposed securities issues are currently pending. The company is trading as VERITY RESOURCES LIMITED only since December 2024, after a rename from SI6.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 17 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 |
| 9 Feb 2026 | 2A · quoted issue | VRL : ORDINARY FULLY PAID | 409.1M | Appendix 2A |
| 9 Feb 2026 | 3G · unquoted | VRL : ORDINARY FULLY PAID | 406.5M | Appendix 3G |
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 allows 15% of ordinary securities in any 12 months, and every Appendix 3B 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 $0.013 today, 0 securities are in the money (0.0% of shares on issue). At double today’s price it is 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.
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 12 Sept 2026.