Companies / FRS

FORRESTANIA RESOURCES LIMITED

ASX:FRSMaterials
1.59B shares on issueASX (delayed) · as of 28 July 2026$0.37price · delayed$588.1Mmarket cap · indicative
C
Dilution grade

Share count grew 755% in 24 months; 14 cash raises in 24 months; 7% of shares in the money

Cash runway37.4 quarters of funding
Share-count growth (24m)755.1%
Raise cadence (24m)14 cash raises
Options & rights overhang10.8% of shares
In-the-money supply6.6% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

FORRESTANIA RESOURCES LIMITED's ordinary share count grew 755.1% between October 2024 and July 2026, to 1.59B shares. The company raised capital 14 times in the 24-month window for total disclosed proceeds of A$659.6M, most recently a A$300.0M placement in June 2026. Options and rights on issue could convert into 172M new shares, equal to 10.8% of the current share count, of which 7% are in the money at the current share price; the nearest expiry is December 2027. At the June 2026 quarter the company reported A$508.8M in available cash, about 37.4 quarters of funding at its recent spending rate. Four proposed securities issues (Appendix 3B) are pending, the nearest with an expected issue date in July 2026.

AI-generated summary of this page's cited filings · updated 28 July 2026
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10.8%
Max option dilution
6.6%
ITM option dilution
6
Raises · last 12 months
37.4 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 1.59B per ASX (delayed) (28 July 2026).
0.51B0.90B1.30BDec 24Sept 25July 26Cash raise · 28 June 2026Cash raise · 26 June 2026Cash raise · 22 Jan 2026Cash raise · 13 Nov 2025Cash raise · 22 Sept 2025Cash raise · 26 Aug 2025Cash raise · 4 June 2025Cash raise · 28 May 2025Cash raise · 15 May 2025Cash raise · 6 May 2025Cash raise · 6 May 2025Cash raise · 7 Mar 2025Cash raise · 11 Feb 2025

Cash runway

37.4 qtrs
More than four quarters of funding at the recent spend rate.
$508.8M 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
21 July 20262A · quoted issueFRS : ORDINARY FULLY PAID1.59BAppendix 2A
17 July 20262A · quoted issueFRS : ORDINARY FULLY PAID1.59BAppendix 2A
13 July 20262A · quoted issueFRS : ORDINARY FULLY PAID1.59BAppendix 2A
8 July 20262A · quoted issueFRS : ORDINARY FULLY PAID1.58BAppendix 2A
3 July 20262A · quoted issueFRS : ORDINARY FULLY PAID1.34BAppendix 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

14 cash raises in the last 24 months · 6 in the last 12 months

$300.0M
Placement
28 June 2026 ACTIVE
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

4 proposed issues 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

10.8%
Total overhang · of current shares
6.6%
In the money · at current price
171.9M
Potential new shares
Dec 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
10 July 2026David GeraghtyBuy9.1M—$3.3M3Y notice
10 June 2026David GeraghtyBuy9.1M—$3.3M3Y notice
5 June 2026Adam TurnbullOther2.0M——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

28 July 2026Notice of General Meeting/Proxy Form
27 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
26 July 2026$PTOV: ZNC - Undertaking
26 July 2026Initial Director's Interest Notice
26 July 2026Appointment of Independent Non-Executive Director
24 July 2026$PZenith Minerals - Second Extension of Offer Period
23 July 2026$PDrilling Results Confirm British Hill Extension
22 July 2026$PResponse to Zenith Minerals Investor Statements
21 July 2026Cleansing Notice
21 July 2026Application for quotation of securities - FRS
17 July 2026Application for quotation of securities - FRS
13 July 2026Cleansing Notice
13 July 2026Application for quotation of securities - FRS
13 July 2026Change of Director's Interest Notice - DG (correction)
13 July 2026Change of Director's Interest Notice - DG
8 July 2026Change in substantial holding
8 July 2026Cleansing Notice
8 July 2026Application for quotation of securities - FRS
7 July 2026RMS: 2026 June Quarter Update
7 July 2026$PSupplementary Bidder's Statement

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