Companies / ASM

AUSTRALIAN STRATEGIC MATERIALS LIMITED

ASX:ASMMaterials
271.7M shares on issueASX (delayed) · as of 28 July 2026$1.01price · delayed$282.6Mmarket cap · indicative
C
Dilution grade

Share count grew 50% in 24 months; 6 cash raises in 24 months; runway 4–8 quarters

Cash runway5.4 quarters of funding
Share-count growth (24m)50.0%
Raise cadence (24m)6 cash raises
Options & rights overhang8.1% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

AUSTRALIAN STRATEGIC MATERIALS LIMITED's ordinary share count grew 50.0% between June 2024 and March 2026, to 272M shares. The company raised capital six times in that 24‑month window for total proceeds of A$160.0M, most recently a A$55.2M placement in October 2025. Options and rights on issue could convert into 22M new shares, equal to 8.1% of the current share count, with the nearest expiry in October 2027; 0% of current shares are in the money. At the March 2026 quarter the company reported A$53.4M in cash, equal to 5.4 quarters of cover at the reported run 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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8.1%
Max option dilution
0.0%
ITM option dilution
2
Raises · last 12 months
5.4 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. Latest count 271.7M per ASX (delayed) (28 July 2026).
200.3M226.5M252.7MDec 24Sept 25July 26Cash raise · 16 Oct 2025Cash raise · 16 Oct 2025Cash raise · 23 July 2025Cash raise · 23 July 2025Cash raise · 16 June 2025Cash raise · 11 June 2025

Cash runway

5.4 qtrs
More than four quarters of funding at the recent spend rate.
$53.4M 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
19 Mar 20262A · quoted issueASM : ORDINARY FULLY PAID271.7MAppendix 2A
13 Mar 20262A · quoted issueASM : ORDINARY FULLY PAID270.9MAppendix 2A
10 Feb 20262A · quoted issueASM : ORDINARY FULLY PAID268.1MAppendix 2A
4 Feb 20262A · quoted issueASM : ORDINARY FULLY PAID268.1MAppendix 2A
22 Dec 20253G · unquotedORDINARY FULLY PAID268.1MAppendix 3G
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 · 2 in the last 12 months

$55.2M
Placement
16 Oct 2025 COMPLETE
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

8.1%
Total overhang · of current shares
0.0%
In the money · at current price
22.1M
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
19 Mar 2026Ian Jeffrey GANDELBuy833k——3Y notice
13 Mar 2026Dominic John HEATONOther42k——3Y notice
22 Dec 2025Rowena SmithOther———3Y 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

27 July 2026$PCourt approves dispatch of Supplementary Scheme Booklet
26 July 2026Vesting of Performance Rights
26 June 2026$PIndicative timing for Scheme Meetings
23 June 2026$PEnergy Fuels transaction announcement
18 June 2026$PPostponement of Scheme Meetings
18 June 2026$PTrading Halt
18 June 2026$PPause in Trading
15 June 2026$PConfirmation of Independent Expert's conclusion
3 June 2026Update regarding dispatch of Proxy Forms and Access Letters
20 May 2026$PDispatch of Scheme Booklet
18 May 2026$PASIC Registration of Energy Fuels Scheme Booklet
17 May 2026Change in substantial holding
15 May 2026$PCourt approves Scheme Meetings & Dispatch of Scheme Booklet
29 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
23 Apr 2026$PFIRB approval received for Energy Fuels' acquisition of ASM
17 Apr 2026Change in substantial holding
6 Apr 2026Change in substantial holding
27 Mar 2026Becoming a substantial holder
19 Mar 2026Change of Director's Interest Notice
19 Mar 2026Cleansing Notice

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