Companies / WYX

WESTERN YILGARN NL

ASX:WYXMaterials
172.0M shares on issueASX (delayed) · snapshot 11 Sept 2026319.8M fully diluted+86.0% if every option and right converts$0.040price · delayed$6.9Mmarket cap · indicative

Today’s holders own 53.8% of what they think they own, once every option and right converts.

Very high
Dilution risk

Runway under 2 quarters; share count grew 79% in 24 months; 6 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway1.4 quarters of funding
Share-count growth (24m)79.4%
Raise cadence (24m)6 cash raises
Options & rights overhang86.0% of shares
In-the-money supply4.8% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

WESTERN YILGARN NL's ordinary share count grew 79.4% between June 2024 and August 2026, reaching 172M shares. The company conducted six capital raises in the past 24 months, totalling A$2.3M, with the most recent being a A$440K Security Purchase Plan in July 2026. Existing options and rights on issue represent potential for 148M new shares, an 86% overhang of the current share count, with 5% in the money and the nearest expiry in November 2026. As of June 2026, the company held A$381K in cash, which covers approximately 1.4 quarters of its operating expenses. No new proposed share issues are currently lodged.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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86.0%
Options & rights overhang
4.8%
In-the-money supply · most strikes not on record
2
Raises · last 12 months
1.4 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 172.0M per ASX (delayed) (snapshot 11 Sept 2026).
100M125M150M175MDec 24Oct 25Sept 26Cash raise · 14 July 2026Cash raise · 30 Sept 2025Cash raise · 7 Apr 2025Cash raise · 4 Apr 2025Cash raise · 26 Mar 2025172.0M

Cash runway

1.4 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
Funds operations to about Oct 2026 at the reported spend rate.
$378k 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: $159k cash at quarter end (item 4.6), 0.8 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
17 Aug 20262A · quoted issueWYX : ORDINARY FULLY PAID172.0MAppendix 2A
18 Dec 20253G · unquotedWYX : ORDINARY FULLY PAID157.3MAppendix 3G
21 Oct 20252A · quoted issueWYX : ORDINARY FULLY PAID157.3MAppendix 2A
10 Oct 20252A · quoted issueWYX : ORDINARY FULLY PAID157.0MAppendix 2A
4 Sept 20252A · quoted issueWYX : ORDINARY FULLY PAID139.3MAppendix 2A
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30 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

6 cash raises in the last 24 months · 2 in the last 12 months

every 3.9 monthsaverage gap between raises
2 monthssince the most recent
27 Nov 2024 – 14 July 2026first to most recent in this window
$440k
Security Purchase Plan
14 July 2026 COMPLETE
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9 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.

25.0M of option supply could convert within 12 months — 14.6% of shares on issue
8.2M in the money, expiring in the window16.9M at a stated nil exercise price — nothing is paid to convert these
Out-of-the-money options are excluded — at today’s price they expire rather than convert. So is condition-triggered supply, which has no expiry and no price, and convertibles that convert on their own terms rather than on a date.
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11 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 — the filings already exceed 15% of the share count we can measure, which means securities were added to the base during the year that we cannot see. 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

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

86.0%
Options & rights overhang · of current shares
4.8%
In-the-money supply · most strikes not on record
147.8M
Potential new shares
Nov 2026
Nearest expiry
What a price move would switch on
73.9M147.8M$0.040 now0.25× today ($0.010) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.020) — 8.2M of the priced supply in the money, 4.8% of shares on issue0.75× today ($0.030) — 8.2M of the priced supply in the money, 4.8% of shares on issue1× today ($0.040) — 8.2M of the priced supply in the money, 4.8% of shares on issue1.25× today ($0.050) — 8.2M of the priced supply in the money, 4.8% of shares on issue1.5× today ($0.060) — 19.6M of the priced supply in the money, 11.4% of shares on issue2× today ($0.080) — 19.6M of the priced supply in the money, 11.4% of shares on issue3× today ($0.120) — 21.2M of the priced supply in the money, 12.3% of shares on issue5× today ($0.200) — 24.6M of the priced supply in the money, 14.3% of shares on issue10× today ($0.400) — 35.5M of the priced supply in the money, 20.6% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.040 today, 8.2M securities are in the money (4.8% of shares on issue) — a floor, because an exercise price is on record for only 27.1% of this supply. No more priced supply until 1.5× today’s price, which takes it to 19.6M (11.4% 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.
  • 16.9M (11.4% of the supply above) states a nil exercise price — nothing is paid to convert it, so no share price switches it on or off. It is the flat band, and it is not part of the in-the-money figure.
  • 95.5M (64.6% 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.
CodeSecurityTypeExercise priceExpiryOn issueSource
WYXAJOptionsPrice-triggeredNil24 Nov 20267.7MFiling
WYXABOptionsPrice-triggeredNil28 Nov 20268.8MFiling
WYXAROptionsPrice-triggered$0.2028 Nov 202610.0MFiling
WYXAMOptionsPrice-triggeredNil28 May 2027400kFiling
WYXAKOptionsPrice-triggered$0.01421 June 20278.2MFiling
WYXALOptionsPrice-triggered$0.2021 June 2027950kFiling
WYXAAOptionsPrice-triggered$0.05013 Mar 202811.4MFiling
WYXOAOptionsPrice-triggered—6 May 202895.5MFiling
WYXAOOptionsPrice-triggered$0.108 Aug 20281.7MFiling
WYXAPOptionsPrice-triggered$0.128 Aug 20281.7MFiling
WYXAQOptionsPrice-triggered$0.148 Aug 20281.7MFiling

“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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11 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
12 Aug 2026Darren FosterBuy on-market75k——$2k3Y notice
18 Dec 2025Darren FosterOther incentive—3.8M——3Y notice
18 Dec 2025John CiganekOther incentive—3.8M——3Y notice
18 Dec 2025Pedro KastellorizosOther incentive—3.8M——3Y notice
18 Dec 2025Peter MichaelOther incentive—3.8M——3Y notice
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14 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

17 Aug 2026Application for quotation of securities - WYX
16 Aug 2026Results of SPP
13 Aug 2026Change of Director's Interest Notice - DF
21 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
19 July 2026Share Purchase Plan Offer Open
19 July 2026Update - Proposed issue of securities - WYX
14 July 2026Proposed issue of securities - WYX
14 July 2026$PSPP Prospectus
14 July 2026$PWYX Launches Share Purchase Plan
13 July 2026$PGold Exploration at Ida Holmes Junction Project
24 May 2026$PHigh-Grade Gallium Delineated at Cardea 1
19 May 2026Technical Adviser Appointment
26 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
12 Apr 2026$PGranted Status given over Gascoyne Gold Projects
11 Mar 2026Half Year Accounts
17 Feb 2026$PHigh-Grade Cobalt-Nickel-Lead-Scandium over Ida Holmes
8 Feb 2026$PSurface Assay Results confirm High-Grade Gallium-Tellurium
28 Jan 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
19 Jan 2026$PLand Access Agreement Signed at Julimar West Bauxite Project
18 Dec 2025Change of Director's Interest Notice x4

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