Companies / AXL

AXEL REE LIMITED

ASX:AXLMaterials
176.0M shares on issueASX (delayed) · as of 28 July 2026$0.065price · delayed$10.6Mmarket cap · indicative
C
Dilution grade

Share count grew 94% in 24 months; options/rights overhang 120% of shares

Cash runway10.1 quarters of funding
Share-count growth (24m)93.6%
Raise cadence (24m)0 cash raises
Options & rights overhang120.0% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

AXEL REE LIMITED's ordinary share count grew 93.6% between October 2024 and July 2026, to 176M shares. The company did not raise capital in the 24-month window to July 2026. Options and rights on issue could convert into 211M new shares, equal to 120.0% of the current share count, with 0% in the money and the nearest expiry in April 2027. At the March 2026 quarter the company reported A$5.8M in available cash, about 10.1 quarters of funding at its recent spending rate. No proposed securities issues (Appendix 3B) are currently pending.

AI-generated summary of this page's cited filings · updated 28 July 2026
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120.0%
Max option dilution
0.0%
ITM option dilution
0
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. Latest count 176.0M per ASX (delayed) (28 July 2026).
174.8M175.2M175.6MDec 24Sept 25July 26

Cash runway

10.1 qtrs
More than four quarters of funding at the recent spend rate.
$5.8M 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
26 July 20262A · quoted issueAXL : ORDINARY FULLY PAID176.0MAppendix 2A
21 Apr 20263H · cancellationAXL : ORDINARY FULLY PAID100.8MAppendix 3H
14 Nov 20253H · cancellationAXL : ORDINARY FULLY PAID100.8MAppendix 3H
14 Nov 20253G · unquotedAXL : ORDINARY FULLY PAID100.8MAppendix 3G
30 June 20252A · quoted issueAXL : ORDINARY FULLY PAID100.8MAppendix 2A
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

No equity raises in the last 24 months.
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

120.0%
Total overhang · of current shares
0.0%
In the money · at current price
211.2M
Potential new shares
Apr 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
17 Apr 2026Paul Andrew George DicksonSell380k190k—3Y notice
13 Nov 2025Paul Andrew George DicksonOther750k——3Y notice
7 Feb 2025Patrick John VolpeOther—250k—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

26 July 2026Application for quotation of securities - AXL
15 July 2026Release of Restricted Securities
9 July 2026$PInvestor Webinar Presentation
9 July 2026$PResponse to ASX Price Query
8 July 2026$PPause in Trading
3 July 2026Investor Webinar
21 June 2026$PAxel Validates Ionic REE ISR Development Pathway
11 June 2026Initial Director's Interest Notice - PM
10 June 2026$PAppointment of Managing Director
5 May 2026$PWoolrich REE Drilling Supports ISR and Resource Upgrade Path
4 May 2026$PRIU Resources Round-Up Presentation
28 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
21 Apr 2026Change of Director's Interest Notice - PD
21 Apr 2026Notification of cessation of securities - AXL
19 Apr 2026$PREE ISR Column Testing Achieves Flow-Through Milestone
16 Apr 2026$PEmerging Wealth Winners Conference Presentation
12 Apr 2026$PISR REE Field Trial Area Selected at Woolrich Deposit
13 Mar 2026Half Yearly Report and Accounts
5 Mar 2026Initial Director's Interest Notice - IR
3 Mar 2026Appointment of Non-Executive Director

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