Companies / WA1

WA1 RESOURCES LTD

ASX:WA1Materials
74.3M shares on issueASX (delayed) · snapshot 11 Sept 202674.8M fully diluted+0.6% if every option and right converts$10.89price · delayed$809.6Mmarket cap · indicative

Today’s holders own 99.4% of what they think they own, once every option and right converts.

Low
Dilution risk

Share count grew 15% in 24 months; 1 cash raise in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway15.1 quarters of funding
Share-count growth (24m)14.6%
Raise cadence (24m)1 cash raise
Options & rights overhang0.6% of shares
In-the-money supplyno data — no exercise price on record
Pending proposed issuesnone

WA1 RESOURCES LTD's ordinary share count grew 14.6% between July 2024 and July 2026, reaching 74M shares. The company raised capital once in the past 24 months, with a A$100.0M placement in August 2025. Options and rights on issue could convert into 467,750 new shares, representing 0.6% of the current share count. No expiry date for these securities is stated on record. At the June 2026 quarter, the company reported A$117.5M in available cash, sufficient for approximately 15.1 quarters at its recent spending rate. No proposed securities issues are pending.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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0.6%
Options & rights overhang
In-the-money supply · no stated strikes
0
Raises · last 12 months
15.1 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 74.3M per ASX (delayed) (snapshot 11 Sept 2026).
67.5M70.0M72.5MDec 24Oct 25Sept 26Cash raise · 13 Aug 202574.3M

Cash runway

15.1 qtrs
More than four quarters of funding at the recent spend rate.
More than three years of funding at the reported spend rate — far enough out that a dated estimate would be false precision.
$117.4M 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: $123.8M cash at quarter end (item 4.6), 24.2 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
7 Aug 20263H · cancellationWA1 : ORDINARY FULLY PAID74.3MAppendix 3H
31 July 20263G · unquotedORDINARY FULLY PAID74.3MAppendix 3G
17 July 20262A · quoted issueWA1 : ORDINARY FULLY PAID74.3MAppendix 2A
27 Mar 20262A · quoted issueWA1 : ORDINARY FULLY PAID74.3MAppendix 2A
4 Feb 20263G · unquotedORDINARY FULLY PAID74.3MAppendix 3G
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17 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

1 cash raise in the last 24 months · 0 in the last 12 months

$100.0M
Placement
13 Aug 2025 COMPLETE
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1 raise 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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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

0.6%
Options & rights overhang · of current shares
In-the-money supply · no stated strikes
468k
Potential new shares
Nearest expiry
What a price move would switch on

No option supply on record carries an exercise price to pay, so no share price switches any of it on. All 468k of it converts on something else — a hurdle that may never be met, or terms the filing does not price.

CodeSecurityTypeExercise priceExpiryOn issueSource
WA1AHPerformance rightsCondition-triggered468kFiling 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.

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1 option line 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
10 July 2025Thomas LyonsOther650k3Y notice
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1 notice 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

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