Companies / WEC

WHITE ENERGY COMPANY LIMITED

ASX:WECEnergy
441.5M shares on issueASX (delayed) · as of 28 July 2026$0.18price · delayed$81.7Mmarket cap · indicative
D
Dilution grade

Runway under 2 quarters; share count grew 122% in 24 months; 2 cash raises in 24 months

Cash runway-0.7 quarters of funding
Share-count growth (24m)121.9%
Raise cadence (24m)2 cash raises
Options & rights overhang1.2% of shares
In-the-money supply1.2% of shares
Pending proposed issuesnone

WHITE ENERGY COMPANY LIMITED's ordinary share count grew 121.9% between June 2024 and December 2025, to 441M shares. The company raised capital twice in that 24-month window for total proceeds of A$7.3M, most recently raising A$3.5M in November 2025. Options and rights on issue could convert into 5M new shares, equal to 1.2% of the current share count, of which 1% are in the money; the nearest expiry is June 2027. At the March 2026 quarter the company reported A$-1.3M in available cash, representing -0.7 quarters of cover on the reported basis. 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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1.2%
Max option dilution
1.2%
ITM option dilution
1
Raises · last 12 months
-0.7 qtrs
Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 441.5M per ASX (delayed) (28 July 2026).
249.9M320.2M390.5MDec 24Sept 25July 26Cash raise · 18 Nov 2025Cash raise · 25 Feb 2025

Cash runway

-0.7 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$-1.3M 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 4 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityTotal on issue afterSource
15 Dec 20252A · quoted issueWEC : ORDINARY FULLY PAID441.5MAppendix 2A
26 Mar 20252A · quoted issueWEC : ORDINARY FULLY PAID311.6MAppendix 2A
4 Dec 20243G · unquotedWEC : ORDINARY FULLY PAID199.0MAppendix 3G
5 June 20242A · quoted issueWEC : ORDINARY FULLY PAID199.0MAppendix 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

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

$3.5M
Capital raise
18 Nov 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

1.2%
Total overhang · of current shares
1.2%
In the money · at current price
5.4M
Potential new shares
June 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
17 Dec 2025Gregory Keith WhitehouseBuy370k—$10k3Y notice
17 Dec 2025Brian FlanneryOther27.2M—$734k3Y notice
17 Dec 2025Vince O'RourkeOther481k—$13k3Y 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

22 July 2026General Meeting Access Letter, Notice of Meeting & Proxy
8 July 2026Update on Proposed Acquisitions & Cap Raising from 22 May 26
23 June 2026$PUnsecured Loan Agreement
21 May 2026Non-Binding Indicative Term Sheet for Proposed Coal Acqs
30 Apr 2026$PQuarterly Activities Report and Appendix 5B
30 Apr 2026$PSpecimen Hill - potential for multiple mineralisation styles
11 Mar 2026Half Yearly Report and Accounts
29 Jan 2026$PQuarterly Activities Report and Appendix 5B
29 Jan 2026WEC update on drilling program in Specimen Hill Project
28 Jan 2026$PAgreement to sell Mountainside Coal Company assets
7 Jan 2026$PExclusive agency agreement for sale of briquettor machines
16 Dec 2025Change of Director's Interest Notice - BF
16 Dec 2025Change of Director's Interest Notice - KW
16 Dec 2025Change of Director's Interest Notice - VO
16 Dec 2025Change in substantial holding - Gaffwick
16 Dec 2025Change in substantial holding - Ilwella
15 Dec 2025Application for quotation of securities - WEC
12 Dec 2025$PEntitlement Offer Results
11 Dec 2025Investor Webinar Link
2 Dec 2025Investor Webinar

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