Companies / LM1

LEEUWIN METALS LTD

ASX:LM1Materials
129.8M shares on issueASX (delayed) · as of 28 July 2026$0.17price · delayed$22.7Mmarket cap · indicative
D
Dilution grade

Share count grew 176% in 24 months; runway 2–4 quarters; 4 cash raises in 24 months

Cash runway2.5 quarters of funding
Share-count growth (24m)175.7%
Raise cadence (24m)4 cash raises
Options & rights overhang56.4% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

LEEUWIN METALS LTD's ordinary share count grew 175.7% between January 2024 and July 2026, to 129M shares. The company conducted four capital raises in the 24-month window for total proceeds of A$12.4M, most recently a A$5.8M placement in October 2025. Options and rights on issue could convert into 73M new shares, equal to 56.4% of the current share count, with 0% in the money and the nearest expiry in May 2027. At the June 2026 quarter the company reported A$3.3M in available cash, representing 2.5 quarters of cover at the reported burn 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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56.4%
Max option dilution
0.0%
ITM option dilution
1
Raises · last 12 months
2.5 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 129.8M per ASX (delayed) (28 July 2026).
77.3M96.6M115.9MDec 24Sept 25July 26Cash raise · 20 Oct 2025Cash raise · 8 Apr 2025Cash raise · 21 Mar 2025Cash raise · 22 Jan 2025

Cash runway

2.5 qtrs
Two to four quarters of funding at the recent spend rate.
$3.3M 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
7 July 20262A · quoted issueLM1 : ORDINARY FULLY PAID128.9MAppendix 2A
7 July 20262A · quoted issueLM1 : ORDINARY FULLY PAID129.2MAppendix 2A
12 June 20263G · unquotedORDINARY FULLY PAID128.3MAppendix 3G
8 May 20262A · quoted issueLM1 : ORDINARY FULLY PAID128.3MAppendix 2A
23 Mar 20263H · cancellationLM1 : ORDINARY FULLY PAID127.2MAppendix 3H
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

4 cash raises in the last 24 months · 1 in the last 12 months

$5.8M
Placement
20 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

56.4%
Total overhang · of current shares
0.0%
In the money · at current price
73.2M
Potential new shares
May 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
7 July 2026Christopher PiggottOther450k——3Y notice
24 Dec 2025Christopher PiggottOther5.0M10.0M—3Y notice
24 Dec 2025Scott WilliamsonOther900k2.0M—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 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
17 July 2026Change in substantial holding x2
7 July 2026Change of Director's Interest Notice
7 July 2026Application for quotation of securities - LM1
7 July 2026Cleansing Notice
7 July 2026Application for quotation of securities - LM1
6 July 2026Proposed issue of securities - LM1
1 July 2026Change in substantial holding from FRS
22 June 2026$PSignificant Gold Intercepts at Marda Regional Targets
12 June 2026Notification regarding unquoted securities - LM1
11 June 2026Becoming a substantial holder from FRS
10 June 2026$PLeeuwin signs MOU with Bain & MEGA to advance Marda
19 May 2026$PResponse to ASX Price Query
18 May 2026$PHIGH IMPACT DRILLING COMMENCES AT MARDA
13 May 2026Change in substantial holding
8 May 2026Cleansing Notice
8 May 2026Application for quotation of securities - LM1
6 May 2026Proposed issue of securities - LM1
5 May 2026RIU Sydney Conference Presentation
29 Apr 2026$PDrilling Continues to Deliver Across Marda Gold Project

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