XSTATE RESOURCES LIMITED
ASX:XSTEnergyToday’s holders own 78.8% of what they think they own, once every option and right converts.
Runway under 2 quarters; share count grew 62% in 24 months; 3 cash raises in 24 months
XSTATE RESOURCES LIMITED had approximately 480M shares outstanding as of April 2026. The company underwent an approximately 1-for-2.2 share consolidation in July 2025. In the 24-month window, XSTATE RESOURCES LIMITED raised capital three times, totalling A$7.7M, with the most recent being a A$1.7M placement in April 2026. Options and rights on issue could convert into 129M new shares, representing 27.0% of the current share count, with the nearest expiry in March 2027; none of these options are currently in the money. As of the June 2026 quarter, the company reported negative A$990K in available cash, indicating a shortfall of approximately 0.4 quarters of funding based on its recent operating expenditure. There are no pending proposed issues.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 16 June 2026 | 3G · unquoted | XST : ORDINARY FULLY PAID | 479.9M | Appendix 3G |
| 16 June 2026 | 3G · unquoted | XST : ORDINARY FULLY PAID | 479.9M | Appendix 3G |
| 16 June 2026 | 3G · unquoted | XST : ORDINARY FULLY PAID | 479.9M | Appendix 3G |
| 23 Apr 2026 | 2A · quoted issue | XST : ORDINARY FULLY PAID | 467.5M | Appendix 2A |
| 22 Apr 2026 | 2A · quoted issue | XST : ORDINARY FULLY PAID | 441.1M | Appendix 2A |
Capital raises
3 cash raises in the last 24 months · 2 in the last 12 months
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.
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.
Pending proposed issues
Options & convertible securities
At $0.015 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 3× today’s price, which takes it to 95.9M (20.0% 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.
- 33.5M (25.9% 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.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| XSTAC | Options | Price-triggered | — | 5 Mar 2027 | 16.4M | Filing |
| XSTAD | Options | Price-triggered | $0.040 | 17 Dec 2029 | 95.9M | Filing |
| — | Options | Price-triggered | — | — | 17.1M | Filing |
“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.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 16 June 2026 | Andrew Bald | Other | 3.8M | 1.8M | 8.5M | — | 3Y notice |
| 16 June 2026 | Andrew Childs | Other | — | 1.8M | 7.0M | — | 3Y notice |
| 16 June 2026 | Greg Channon | Other | 517k | 1.8M | 7.0M | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.