Companies / TKM

TREK METALS LIMITED

ASX:TKMMaterials
731.2M shares on issueASX (delayed) · as of 28 July 2026$0.12price · delayed$87.7Mmarket cap · indicative
C
Dilution grade

Share count grew 42% in 24 months; 3 cash raises in 24 months; options/rights overhang 115% of shares

Cash runway8.2 quarters of funding
Share-count growth (24m)42.4%
Raise cadence (24m)3 cash raises
Options & rights overhang115.1% of shares
In-the-money supply0.0% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

TREK METALS LIMITED's ordinary share count grew 42.4% between March 2024 and July 2026, to 731M shares. The company raised capital three times in that period for total disclosed proceeds of A$19.5M, most recently a A$15.0M placement in February 2026. Options and rights on issue could convert into 841M new shares, equal to 115.1% of the current share count, of which 0% are in the money at the current share price; the nearest expiry is February 2028. At the June 2026 quarter the company reported A$13.8M in available cash, about 8.2 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
Email me when this grade changes
Alerts are coming soon — this opens a pre-filled email that puts you on the list.
115.1%
Max option dilution
0.0%
ITM option dilution
2
Raises · last 12 months
8.2 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 731.2M per ASX (delayed) (28 July 2026).
564.4M625.6M686.9MDec 24Sept 25July 26Cash raise · 12 Feb 2026Cash raise · 19 Nov 2025Cash raise · 21 Apr 2025

Cash runway

8.2 qtrs
More than four quarters of funding at the recent spend rate.
$13.8M 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.
Join the waitlist

Issuance timeline

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

DateFormSecurityTotal on issue afterSource
17 July 20263G · unquotedCHESS DEPOSITARY INTERESTS 1:1731.2MAppendix 3G
14 July 20262A · quoted issueTKM : CHESS DEPOSITARY INTERESTS 1:1731.2MAppendix 2A
18 June 20262A · quoted issueTKM : CHESS DEPOSITARY INTERESTS 1:1728.3MAppendix 2A
21 May 20262A · quoted issueTKM : CHESS DEPOSITARY INTERESTS 1:1727.8MAppendix 2A
20 May 20263G · unquotedCHESS DEPOSITARY INTERESTS727.2MAppendix 3G
Paid plan
Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
Join the waitlist

Capital raises

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

$15.0M
Placement
12 Feb 2026 COMPLETE
Paid plan
Full raise history
Issue price, discount, brokers, purpose and tranche detail for every raise on record.
Join the waitlist

Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

115.1%
Total overhang · of current shares
0.0%
In the money · at current price
841.5M
Potential new shares
Feb 2028
Nearest expiry
Paid plan
Per-line options & expiry cliffs
Each option line — code, strike, expiry, quantity and ITM value — plus the expiry-cliff chart.
Join the waitlist

Director dealings

DateDirectorTypeSharesOptionsValueSource
16 July 2026Neil BiddleOther21.1M—$740k3Y notice
16 July 2026John YoungOther11.9M—$740k3Y notice
16 July 2026Andrew ReeceOther24.1M—$740k3Y notice
Paid plan
Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
Join the waitlist

Ownership

Free account
Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
Sign up free — coming soon

Latest announcements

27 July 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
23 July 2026Investor Presentation - RRS Twilight Conference - Perth
22 July 2026$PIP Drilling Validates Concealed Manganese Targeting at Kuro
21 July 2026Change of Director's Interest Notice
17 July 2026Notification regarding unquoted securities - TKM
16 July 2026Results of Meeting
14 July 2026Application for quotation of securities - TKM
5 July 2026$PDrilling Continues to Intersect Mineralisation at Kuro
28 June 2026$PMultiple Mineralised Zones Intersected at Kuro
18 June 2026Application for quotation of securities - TKM
16 June 2026Notice of Annual General Meeting/Proxy Form/Access letter
15 June 2026Drill program commences at the Kuro Manganese discovery
1 June 2026Geophysical Programs and Pre-Drilling Earthworks underway
31 May 2026Appendix 4G & Corporate Governance Statement
31 May 2026Annual Report to shareholders
29 May 2026AGM and Notice under LR 3.13.1
21 May 2026Pre-drilling Earthworks Commence at Christmas Creek
21 May 2026Application for quotation of securities - TKM
20 May 2026Notification regarding unquoted securities - TKM
20 May 2026Notification regarding unquoted securities - TKM

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