Companies / XRA

XENORA MINERALS LTD

ASX:XRAMaterials
60.9M shares on issueASX (delayed) · snapshot 11 Sept 202676.0M fully diluted+24.8% if every option and right converts$0.34price · delayed$20.4Mmarket cap · indicative

Today’s holders own 80.1% of what they think they own, once every option and right converts.

Low
Dilution riskprovisional — limited history

Options/rights overhang 25% of shares; 17% of shares in the money; 1 cash raise in 24 months; since relisting as XRA; prior history under TX3 not included

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway10.1 quarters of funding
Share-count growth (24m)4.4%since relisting as XRA; prior history under TX3 not included
Raise cadence (24m)1 cash raisesince relisting as XRA; prior history under TX3 not included
Options & rights overhang24.8% of shares
In-the-money supply16.8% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

XENORA MINERALS LTD, which has been trading as XRA only since September 2025, reports its ordinary share count grew 4.4% between October 2025 and January 2026, to 61M shares. The company raised capital once since the rename, a A$2.1M placement in September 2025. Options and rights on issue could convert into 15M new shares, equal to 24.8% of the current share count, of which 17% are in the money at the current share price; the nearest expiry falls in December 2026. At the June 2026 quarter the company reported A$2.0M in available cash, about 10.2 quarters of funding at its recent spending rate. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in November 2026.

AI-generated summary of this page's cited filings · updated 3 Sept 2026
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24.8%
Options & rights overhang
16.8%
In-the-money supply
1
Raises · last 12 months
10.1 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. Shown since relisting as XRA (22 Sept 2025); prior history under TX3 is not included. Latest count 60.9M per ASX (delayed) (snapshot 11 Sept 2026).
50M55M60MSept 25Mar 26Sept 26Cash raise · 30 Sept 202560.9M

Cash runway

10.1 qtrs
More than four quarters of funding at the recent spend rate.
Funds operations to about Dec 2028 at the reported spend rate.
$2.0M 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: $2.2M cash at quarter end (item 4.6), 11.0 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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4 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
19 June 20263H · cancellationXRA : ORDINARY FULLY PAID60.9MAppendix 3H
1 May 20263H · cancellationXRA : ORDINARY FULLY PAID60.9MAppendix 3H
9 Jan 20262A · quoted issueXRA : ORDINARY FULLY PAID60.9MAppendix 2A
2 Dec 20253G · unquotedXRA : ORDINARY FULLY PAID58.4MAppendix 3G
2 Dec 20252A · quoted issueXRA : ORDINARY FULLY PAID60.5MAppendix 2A
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7 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 · 1 in the last 12 months · counted since relisting as XRA (22 Sept 2025); prior history under TX3 is not included

$2.1M
Placement
30 Sept 2025
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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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5 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

24.8%
Options & rights overhang · of current shares
16.8%
In-the-money supply · at current price
15.1M
Potential new shares
Dec 2026
Nearest expiry
What this supply is, and what converts it
  • Price-triggered10.4M · 17.0% of shares
    Options and warrants — they convert when the share price clears their exercise price.
  • Condition-triggered4.8M · 7.8% 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: 10.4M priced (of which 10.3M in the money), 4.8M 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
7.6M15.1M$0.34 now0.25× today ($0.08) — 8.8M of the priced supply in the money, 14.4% of shares on issue0.5× today ($0.17) — 8.8M of the priced supply in the money, 14.4% of shares on issue0.75× today ($0.25) — 10.3M of the priced supply in the money, 16.8% of shares on issue1× today ($0.34) — 10.3M of the priced supply in the money, 16.8% of shares on issue1.25× today ($0.42) — 10.3M of the priced supply in the money, 16.8% of shares on issue1.5× today ($0.50) — 10.3M of the priced supply in the money, 16.8% of shares on issue2× today ($0.67) — 10.3M of the priced supply in the money, 16.8% of shares on issue3× today ($1.01) — 10.3M of the priced supply in the money, 16.8% of shares on issue5× today ($1.68) — 10.4M of the priced supply in the money, 17.0% of shares on issue10× today ($3.35) — 10.4M of the priced supply in the money, 17.0% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.34 today, 10.3M securities are in the money (16.8% of shares on issue). No more priced supply until 5× today’s price, which takes it to 10.4M (17.0% 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.
  • 4.8M (31.5% 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
XRAANOptionsPrice-triggered$1.4021 Dec 202667kFiling
XRAAAOptionsPrice-triggered$1.6017 Dec 202743kFiling
XRAAPOptionsPrice-triggered$0.06523 Sept 20288.8MFiling
XRAABOptionsPrice-triggered$0.243 Dec 20281.5MFiling
XRAAMPerformance rightsCondition-triggered——4.8MFiling

“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.

1 class ceased in the last 12 months and is not counted above
The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.
  • XRAAOCondition-triggered472k securities → 01 May 2026 Appendix 2A
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5 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
30 Jan 2026Peretz SchapiroBuy on-market75k———3Y notice
3 Dec 2025Chris ZielinskiBuy placement125k———3Y notice
3 Dec 2025Peretz SchapiroBuy placement172k2.5M——3Y notice
3 Dec 2025William DixBuy placement172k—472k—3Y notice
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5 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

11 Sept 2026Corporate Calendar
23 Aug 2026Exploration Update
27 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
19 June 2026Notification of cessation of securities - XRA
1 May 2026Notification of cessation of securities - XRA
19 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
2 Apr 2026Proposed issue of securities - XRA
31 Mar 2026Initial Director's Interest Notice
31 Mar 2026New Director Appointment
31 Mar 2026Final Director's Interest Notice
4 Mar 2026$PCorporate Update
9 Feb 2026$PNew Geochemical Results at the Dudley Lithium Project
6 Feb 2026Half Year Accounts
1 Feb 2026Change of Director's Interest Notice
22 Jan 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
9 Jan 2026Xenora Elects to Continue Farm-In at Dudley
9 Jan 2026Cleansing Notice
9 Jan 2026Application for quotation of securities - XRA
4 Dec 2025Change of Director Interest Notices x 3
2 Dec 2025Cleansing Notice

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