Companies / MDI

MIDDLE ISLAND RESOURCES LIMITED

ASX:MDIMaterials
993.3M shares on issueASX (delayed) · as of 28 July 2026$0.014price · delayed$13.9Mmarket cap · indicative
D
Dilution grade

Share count grew 355% in 24 months; runway 2–4 quarters; 3 cash raises in 24 months

Cash runway3.4 quarters of funding
Share-count growth (24m)355.0%
Raise cadence (24m)3 cash raises
Options & rights overhang14.7% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

MIDDLE ISLAND RESOURCES LIMITED's ordinary share count grew 355.0% between July 2024 and November 2025, to 993M shares. The company raised capital three times in the 24-month window for total disclosed proceeds of A$4.2M, most recently raising A$3.4M in August 2025. Options and rights on issue could convert into 146M new shares, equal to 14.7% of the current share count, none of which are in the money at the current share price; the nearest expiry is November 2026. At the March 2026 quarter the company reported A$2.3M in available cash, about 3.4 quarters of funding at its recent spending 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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14.7%
Max option dilution
0.0%
ITM option dilution
1
Raises · last 12 months
3.4 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 993.3M per ASX (delayed) (28 July 2026).
992.3M992.7M993.0MNov 25Mar 26July 26

Cash runway

3.4 qtrs
Two to four quarters of funding at the recent spend rate.
$2.3M 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
17 Mar 20263G · unquotedMDI : ORDINARY FULLY PAID993.3MAppendix 3G
6 Feb 20263G · unquotedMDI : ORDINARY FULLY PAID993.3MAppendix 3G
6 Feb 20263G · unquotedMDI : ORDINARY FULLY PAID993.3MAppendix 3G
12 Nov 20252A · quoted issueMDI : ORDINARY FULLY PAID993.3MAppendix 2A
10 Nov 20253G · unquotedMDI : ORDINARY FULLY PAID992.0MAppendix 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

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

$3.4M
Capital raise
28 Aug 2025
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

14.7%
Total overhang · of current shares
0.0%
In the money · at current price
146.4M
Potential new shares
Nov 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
3 Feb 2026Daniel RaihaniBuy10.0M——3Y notice
22 Dec 2025Daniel RaihaniBuy4.0M——3Y notice
22 Dec 2025Bill Richie YangOther7.5M——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

19 July 2026MDI Strengthens Serbian Leadership Team
1 July 2026$PDrilling expands Large Gold Silver Base Metals System
2 June 2026$PBobija Drilling Expands Gold-Silver-Base Metal Footprint
27 May 2026$PResignation of CEO
13 May 2026$PMajor Polymetallic Target Emerges at Bobija
28 Apr 2026$PQuarterly Activities Report & Cashflow
25 Mar 2026$PField Programs Underway Across Multiple Targets in Bobija
17 Mar 2026Initial Director's Interest Notice - Sanela Karic
17 Mar 2026Notification regarding unquoted securities - MDI
15 Mar 2026Sanela Karic appointed to the Board of Directors
13 Mar 2026Half Yearly Report and Accounts
10 Mar 2026$PGold Target Emerging at Zabrnjica Prospect Priboj Project
11 Feb 2026$PLarge-Scale Silver-Lead-Zinc-Antimony Targets at Tisovik
6 Feb 2026Notification regarding unquoted securities - MDI
6 Feb 2026Notification regarding unquoted securities - MDI
6 Feb 2026Change of Director's Interest Notice
3 Feb 2026Change in substantial holding - Daniel Raihani
3 Feb 2026Change of Director's Interest Notice - D Raihani
29 Jan 2026$PQuarterly Activities Report & Cashflow
18 Jan 2026$PSignificant Copper Targets Confirmed at Priboj Project

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