Companies / ZNC

ZENITH MINERALS LIMITED

ASX:ZNCMaterials
640.0M shares on issueAppendix 2A · as of 27 July 2026$0.096price · delayed$58.7Mmarket cap · indicative
F
Dilution grade

Runway under 2 quarters; share count grew 71% in 24 months; 3 cash raises in 24 months

Cash runway1.2 quarters of funding
Share-count growth (24m)70.6%
Raise cadence (24m)3 cash raises
Options & rights overhang42.1% of shares
In-the-money supply25.5% of shares
Pending proposed issuesnone

ZENITH MINERALS LIMITED's ordinary share count grew 70.6% between October 2024 and July 2026, to 640M shares. The company completed three capital raises in the 24-month window for total proceeds of A$13.7M, most recently a A$7.7M placement in September 2025. Options and rights could convert into 270M new shares, equal to 42.1% of the current share count, of which 26% are in the money at the current share price; the nearest expiry is October 2026. At the March 2026 quarter the company reported A$2.7M in available cash, representing about 1.2 quarters of cover. 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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42.1%
Max option dilution
25.5%
ITM option dilution
1
Raises · last 12 months
1.2 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 640.0M per Appendix 2A (27 July 2026).
453.7M521.3M589.0MDec 24Sept 25July 26Cash raise · 24 Sept 2025Cash raise · 10 June 2025

Cash runway

1.2 qtrs
Less than two quarters of funding at the recent spend rate — near-term funding pressure.
$2.7M 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
27 July 20262A · quoted issueZNC : ORDINARY FULLY PAID640.0MAppendix 2A
23 July 20262A · quoted issueZNC : ORDINARY FULLY PAID638.1MAppendix 2A
23 July 20262A · quoted issueZNC : ORDINARY FULLY PAID638.0MAppendix 2A
20 July 20263H · cancellationZNC : ORDINARY FULLY PAID633.7MAppendix 3H
20 July 20262A · quoted issueZNC : ORDINARY FULLY PAID636.3MAppendix 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

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

$7.7M
Placement
24 Sept 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

42.1%
Total overhang · of current shares
25.5%
In the money · at current price
269.6M
Potential new shares
Oct 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
14 July 2026Stanley MacdonaldSell4.1M——3Y notice
3 July 2026Stanley MacdonaldSell4.1M7.0M—3Y notice
1 July 2026Euan JenkinsSell16.9M2.0M—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

27 July 2026Issue of Shares and Cleansing Notice
27 July 2026Application for quotation of securities - ZNC
26 July 2026Change in substantial holding from FRS
24 July 2026$PSecond Supplementary Target's Statement
23 July 2026$PTOV: ZNC - Panel Receives Application
23 July 2026Change in substantial holding from FRS
23 July 2026Updated Announcement - Issue of Shares and Cleansing Notice
23 July 2026Update - Application for quotation of securities - ZNC
23 July 2026Issue of Shares and Cleansing Notice
23 July 2026Application for quotation of securities - ZNC
23 July 2026Change in Substantial Holding
22 July 2026$PUpdate on Forrestania Takeover Offer
22 July 2026Change in substantial holding
21 July 2026Change in substantial holding from FRS
20 July 2026Issue of Shares and Cleansing Notice
20 July 2026Application for quotation of securities - ZNC
20 July 2026Notification of cessation of securities - ZNC
16 July 2026Change in substantial holding from FRS
16 July 2026Issue of Shares and Cleansing Notice
16 July 2026Application for quotation of securities - ZNC

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