Companies / WCN

WHITE CLIFF MINERALS LIMITED

ASX:WCNMaterials
3.30B shares on issueASX (delayed) · as of 28 July 2026$0.018price · delayed$56.2Mmarket cap · indicative
F
Dilution grade

Runway under 2 quarters; share count grew 102% in 24 months; 6 cash raises in 24 months

Cash runway-0.1 quarters of funding
Share-count growth (24m)101.9%
Raise cadence (24m)6 cash raises
Options & rights overhang68.1% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

WHITE CLIFF MINERALS LIMITED's ordinary share count grew 101.9% between July 2024 and July 2026, to 3.29B shares. The company raised capital six times in the last 24 months for total disclosed proceeds of A$20.1M, most recently A$200K in June 2025. Options and rights on issue could convert into 2.25B new shares, equal to 68.1% of the current share count, none of which are in the money at the current share price; the nearest expiry is October 2027. At the March 2026 quarter the company reported A$-308K in available cash, equivalent to -0.1 quarters of funding at its recent spending rate. No proposed securities issues (Appendix 3B) are pending.

AI-generated summary of this page's cited filings · updated 28 July 2026
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68.1%
Max option dilution
0.0%
ITM option dilution
0
Raises · last 12 months
-0.1 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 3.30B per ASX (delayed) (28 July 2026).
2.19B2.60B3.01BDec 24Sept 25July 26Cash raise · 5 June 2025Cash raise · 14 May 2025Cash raise · 13 May 2025Cash raise · 9 May 2025Cash raise · 7 May 2025

Cash runway

-0.1 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$-308k available cash at quarter ended 31 Mar 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds.
Paid plan
Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 31 Mar 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityTotal on issue afterSource
17 July 20263G · unquotedWCN : ORDINARY FULLY PAID3.30BAppendix 3G
13 July 20263G · unquotedWCN : ORDINARY FULLY PAID3.24BAppendix 3G
13 July 20262A · quoted issueWCN : ORDINARY FULLY PAID3.29BAppendix 2A
13 July 20262A · quoted issueWCN : ORDINARY FULLY PAID3.25BAppendix 2A
2 July 20262A · quoted issueWCN : ORDINARY FULLY PAID3.09BAppendix 2A
Paid plan
Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

6 cash raises in the last 24 months · 0 in the last 12 months

$200k
Capital raise
5 June 2025
Paid plan
Full raise history
Issue price, discount, brokers, purpose and tranche detail for every raise on record.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

68.1%
Total overhang · of current shares
0.0%
In the money · at current price
2.25B
Potential new shares
Oct 2027
Nearest expiry
Paid plan
Per-line options & expiry cliffs
Each option line — code, strike, expiry, quantity and ITM value — plus the expiry-cliff chart.
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Director dealings

DateDirectorTypeSharesOptionsValueSource
13 July 2026John HancockOther3.3M10.2M$35k3Y notice
13 July 2026Troy WhittakerBuy25.0M——3Y notice
13 July 2026Gavin RezosOther1.0M3.2M$11k3Y notice
Paid plan
Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

Free account
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

28 July 2026Investor Webinar
27 July 2026$PFirst Diamond Drill Hole Assays 50.9M at 2.81% Cu
17 July 2026Notification regarding unquoted securities - WCN
16 July 2026Ceasing to be a substantial holder - Rod McIllree
13 July 2026Notification regarding unquoted securities - WCN
13 July 2026Appendix 3Y - Sara Kelly
13 July 2026Appendix 3Y - John Hancock
13 July 2026Appendix 3Y - Eric Sondergaard
13 July 2026Appendix 3Y - Troy Whittaker
13 July 2026Appendix 3Y - Gavin Rezos
13 July 2026Issue of Shares and Cleansing Notice
13 July 2026Application for quotation of securities - WCN
13 July 2026Application for quotation of securities - WCN
12 July 2026$PAssays Confirm High Grade Cu over 5.4km
2 July 2026Issue of Shares and Cleansing Notice
2 July 2026Application for quotation of securities - WCN
1 July 2026Issue of Shares and Cleansing Notice
1 July 2026Application for quotation of securities - WCN
30 June 2026Issue of Shares and Cleansing Notice
30 June 2026Application for quotation of securities - WCN

Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 July 2026.