Companies / FAL

FALCON METALS LTD

ASX:FALMaterials
213.7M shares on issueASX (delayed) · as of 28 July 2026$0.39price · delayed$85.5Mmarket cap · indicative
D
Dilution grade

Runway 2–4 quarters; share count grew 20% in 24 months; 2 cash raises in 24 months

Cash runway3.7 quarters of funding
Share-count growth (24m)20.5%
Raise cadence (24m)2 cash raises
Options & rights overhang7.8% of shares
In-the-money supply7.1% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

FALCON METALS LTD's ordinary share count grew 20.5% between July 2025 and February 2026, to 214M shares. The company raised capital twice in that 24-month window for total proceeds of A$40.0M, most recently a A$20.0M placement in August 2025. Options and rights could convert into 17M new shares, equal to 7.8% of the current share count, of which 7% are in the money; the nearest expiry is July 2026. At the June 2026 quarter the company reported A$14.2M in available cash, covering 3.7 quarters at the recent burn 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 28 July 2026
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7.8%
Max option dilution
7.1%
ITM option dilution
2
Raises · last 12 months
3.7 qtrs
Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 213.7M per ASX (delayed) (28 July 2026).
184.7M195.4M206.0MDec 24Sept 25July 26Cash raise · 12 Aug 2025Cash raise · 12 Aug 2025

Cash runway

3.7 qtrs
Two to four quarters of funding at the recent spend rate.
$14.2M available cash at quarter ended 30 June 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 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityTotal on issue afterSource
2 July 20263G · unquotedFAL : ORDINARY FULLY PAID213.7MAppendix 3G
23 Feb 20262A · quoted issueFAL : ORDINARY FULLY PAID213.7MAppendix 2A
27 Jan 20263G · unquotedFAL : ORDINARY FULLY PAID212.6MAppendix 3G
16 Dec 20253H · cancellationFAL : ORDINARY FULLY PAID212.6MAppendix 3H
20 Nov 20253G · unquotedFAL : ORDINARY FULLY PAID212.6MAppendix 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

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

$20.0M
Placement
12 Aug 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

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
Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

7.8%
Total overhang · of current shares
7.1%
In the money · at current price
16.6M
Potential new shares
July 2026
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
23 Feb 2026Alexander Carl DorschSell219k—$64k3Y notice
23 Feb 2026Timothy Shaun MarkwellSell344k—$101k3Y notice
23 Feb 2026Mark Anthony BennettSell300k—$89k3Y 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 2026$PGreen Light for Drilling at Errabiddy Gold Project
20 July 2026$PBlue Moon Strike Extended with Fifth Gold Zone Emerging
13 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
2 July 2026Notification regarding unquoted securities - FAL
2 July 2026Proposed issue of securities - FAL
18 May 2026Investor Presentation - Melbourne Mining Club Cutting Edge
18 May 2026$PGold Intersected at Blue Moon Over 600m of Strike Length
4 May 2026Third Diamond Drill Rig Commences at Blue Moon
23 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
13 Mar 2026Half Year Accounts
2 Mar 2026Becoming a substantial holder from MQG
23 Feb 2026Change of Director's Interest Notice
23 Feb 2026Application for quotation of securities - FAL
17 Feb 2026Investor Presentation - RIU Explorers Conference Freemantle
15 Feb 2026$PBlue Moon extended 80m along strike hitting 0.4m @ 167g/t Au
8 Feb 2026Investor Presentation - Bell Potter Unearthed
27 Jan 2026Notification regarding unquoted securities - FAL
22 Jan 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
17 Dec 2025$PBlue Moon Extended Along Strike Hitting 2.75m @ 41.9g/t Au
16 Dec 2025Change of Director's Interest Notice

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