Companies / WRX

WESTERN RIDGE RESOURCES LIMITED

ASX:WRXMaterials
191.9M shares on issueASX (delayed) · snapshot 11 Sept 2026219.7M fully diluted+14.5% if every option and right converts$0.029price · delayed$5.6Mmarket cap · indicative

Today’s holders own 87.4% of what they think they own, once every option and right converts.

High
Dilution riskprovisional — limited history

Runway under 2 quarters; share count grew 22% in 24 months; 3 cash raises in 24 months; since relisting as WRX; prior history under SUM not included

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.1 quarters of funding
Share-count growth (24m)21.5%since relisting as WRX; prior history under SUM not included
Raise cadence (24m)3 cash raisessince relisting as WRX; prior history under SUM not included
Options & rights overhang14.5% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesopen proposed issue (Appendix 3B)

WESTERN RIDGE RESOURCES LIMITED's ordinary share count grew 21.5% between March 2026 and August 2026, reaching 192M shares. The company has raised capital three times in the past 24 months for total disclosed proceeds of A$3.1M, with the most recent being a A$800K placement in August 2026. Options and rights on issue could convert into 28M new shares, representing 14.5% of the current share count, with the nearest expiry in December 2026. At the June 2026 quarter, the company reported A$702K in available cash, covering approximately 1.1 quarters of expenses. One proposed securities issue is pending, with an expected issue date in November 2026. All figures reflect activity only since March 2026, following a rename from SUM.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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14.5%
Options & rights overhang
—
In-the-money supply · most strikes not on record
3
Raises · last 12 months
1.1 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. Shown since relisting as WRX (2 Mar 2026); prior history under SUM is not included. Latest count 191.9M per ASX (delayed) (snapshot 11 Sept 2026).
160M170M180M190MMar 26June 26Sept 26Cash raise · 12 Aug 2026191.9M

Cash runway

1.1 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
The latest quarterly report funded operations to about Sept 2026 — that date has passed, and no later report is on record.
$695k 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: $408k cash at quarter end (item 4.6). Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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2 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 2 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
19 Aug 20262A · quoted issueWRX : ORDINARY FULLY PAID191.9MAppendix 2A
4 Mar 20262A · quoted issueWRX : ORDINARY FULLY PAID157.9MAppendix 2A
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2 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

3 cash raises in the last 24 months · 3 in the last 12 months · counted since relisting as WRX (2 Mar 2026); prior history under SUM is not included

every 5.4 monthsaverage gap between raises
1 monthssince the most recent
15 Sept 2025 – 12 Aug 2026first to most recent in this window
$800k
Placement
12 Aug 2026 ACTIVE
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4 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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7 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.

No estimate — no share count old enough to measure 15% of. The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure.
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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

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.
Paid plan
1 pending issue on record — Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

14.5%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
27.8M
Potential new shares
Dec 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered11.1M · 5.8% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered16.6M · 8.7% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 11.1M priced, 16.6M 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
13.9M27.8M$0.029 now0.25× today ($0.007) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.015) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.022) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.029) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.036) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($0.044) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($0.058) — 5.0M of the priced supply in the money, 2.6% of shares on issue3× today ($0.087) — 5.0M of the priced supply in the money, 2.6% of shares on issue5× today ($0.145) — 5.0M of the priced supply in the money, 2.6% of shares on issue10× today ($0.290) — 9.1M of the priced supply in the money, 4.8% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

An exercise price is on record for only 40.1% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.029 today. At double today’s price it is 5.0M (2.6% 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.
  • 16.6M (59.9% 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.
  • 2.0M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
WRXAABOptionsPrice-triggered$0.2229 Dec 20262.0MFiling
WRXAAAOptionsPrice-triggered$0.2529 Dec 20261.0MFiling
WRXAAEOptionsPrice-triggered$0.253 Oct 2027125kFiling
WRXAADOptionsPrice-triggered$0.4031 Dec 20272.0MFiling
WRXAEOptionsPrice-triggered$0.2223 Apr 20281.0MFiling
WRXAGOptionsPrice-triggered$0.0458 Dec 20285.0MFiling
WRXAACPerformance rightsCondition-triggered——16.6MFiling

“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.

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7 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
15 May 2026Peter AllenBuy on-market260k—2.1M—3Y notice
14 May 2026Peter AllenBuy on-market260k—2.1M—3Y notice
13 May 2026Peter AllenBuy on-market260k—2.1M—3Y notice
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3 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

19 Aug 2026Cleansing Notice
19 Aug 2026Application for quotation of securities - WRX
11 Aug 2026Proposed issue of securities - WRX
11 Aug 2026Proposed issue of securities - WRX
11 Aug 2026$PPlacement to Advance Keystone Exploration
31 July 2026$PQuarterly Activities and Cashflow Report
21 July 2026Keystone Exploration Target - Supplementary Information
14 July 2026$PKeystone Exploration Target Reinforces Scale Potential
6 July 2026$PKeystone Sampling Delivers Outstanding Results
17 June 2026Sulphide Mineralisation Confirmed at Keystone - Updated
15 June 2026$PSulphide Mineralisation Confirmed at Keystone
2 June 2026$PMaiden Drilling Program Confirmed for Keystone Project
27 May 2026$PSignificant Expansion of Keystone Project
18 May 2026Change of Director's Interest Notice
30 Apr 2026$PQuarterly Activities and Cashflow Report
28 Apr 2026$PExploration Earthworks Underway - Keystone Project
29 Mar 2026Western Ridge Completes OTC Listing
25 Mar 2026$PDrilling Approval Received - Keystone Project
13 Mar 2026Half Yearly Report and Accounts
10 Mar 2026Investor Presentation

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