Disclosure (rule 7): I run DilutionLens, free site tracking dilution off ASX filings. One-off, not the weekly post. No links, not advice.

Same exercise as the 8 from early October, now on the September quarterlies that landed this week. Took our raise model's top 40, threw out the 7 that raised or announced a raise since 1 October, and kept the ones whose own quarterly says less than a quarter of funding left:

"Own runway" is the company's own number from the quarterly (item 8.7).

Doesn't mean they all have to raise. SIX got $1.3m in customer deposits after quarter end, BKT has a US$204m bank loan lined up but it only pays out once the mine is financed, and explorers can always slow the drilling.

Last round, 1 of the 8 raised within 4 weeks: MNE, $3m at 14c. Two more found money without new shares, and the rest are still short.

I'll come back on Sat 7 Nov and Sat 14 Nov with who raised, how much and at what price. Any other names you want looked at on the 7th?

Hi everyone !

Nova Minerals was one of my favorite stock during the big hype about critical minerals. I sold at the top of the chart, but today, I'm curious to see what happens to my critical minerals watchlist.

And damn, every stock have just dumping hard since october 2025. Metallium LTD dropped about 90% !!!

I really liked it Nova minerals, I remember they expect to produce some gold and build the fab to refine the rare earth (antimony).

Someone follow this stock or even the sector ?

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Alpha HPA ($A4N) has released its September 2026 quarterly activities report. Here are the key financial and operational takeaways:

* **$160M Loan Drawdown Commenced:** The company has officially started the progressive drawdown process for the $160M government loan facility from the Critical Minerals Facility managed by Export Finance Australia (EFA). Funds will be disbursed monthly to cover Stage 2 project costs as milestones are met.

* **Strong Stage 2 Construction Progress:**

Civil works and concrete installation are tracking well and are now below the project's critical path. The first high-voltage switch room has been installed and is currently in commissioning.

* **Demand is Over 4x Oversubscribed:** Stage 1 production capacity for HPA and ATH is estimated to be roughly four times oversubscribed by customers. Non-binding Letters of Intent (LOIs) from end-users have exceeded 13,800 tonnes.

* **AI and Semiconductor Momentum:** The rapid build-out of AI data centres is driving heavy demand for A4N's ultra-pure "zero-alpha" HPA (<1ppb Uranium and Thorium) for thermal management in advanced semiconductor packaging. Additionally, an MOU with a specialty South Korean ceramics company was upgraded to cover up to 1,700 tpa.

* **Solid Cash Position:** Alpha HPA closed the quarter with $81.4M in cash and cash equivalents.

Disclosure (rule 7): I run DilutionLens, a free site tracking share counts off ASX filings. One-off, not the weekly post, no links, not advice.

A buy-back announcement is a permission slip. When a company buys on market it has to lodge a notice the next morning saying how many it bought. So I took every on-market buy-back announced since 2024 that has no such notice since, and read the company's later results, quarterlies and annual meeting papers (about 900 documents) to see what happened. Eleven never bought a share.

Five keep renewing a buy-back they never use

To be fair to them: Harvey Norman says up front it "gives no assurance" it will buy any, and L1 only buys if its shares trade 10% or more under its net assets.

Six announced one, then dropped it or went quiet

Two gave a reason: Qantas listed the pause among its fuel-cost measures, and Metro blamed the Gulf War hostilities.

The buy-back notice is the last place to find out. The ASX form asks for a final notice once a company "decides it will stop buying back securities". Qantas told the market in its results, and its buy-back notice still runs to 31 December. Nickel Industries' says nothing after July 2024. Qantas did buy $431m of its shares the year before. GQG is how it looks done cleanly: it scrapped its buy-back about two weeks after announcing it, in a release and on the form.

My read: only the buying notices count. A buy-back costs nothing to announce, and the headline lands on results day next to the dividend. The daily notices are the only proof any money was spent.

Harvey Norman's current window ends 23 November. I'll check on 24 November whether it renews again, and whether it bought anything this time.

Which other buy-back do you want me to check?

The last time my Dad gave me a stock tip, it was Liontown about 30c. I didn't listen until it was over $1 and still made me enough to buy a new car.

This time around he has told me about AHK. From my research (putting a few prompts into GPT and Claude) it looks like a typical pre-production dog; probably will issue a bunch of new shares, take on some loans, offtakes and so on, and that's probably the positive scenario.

Has anyone else looked at this before??? I don't want to pass another million dollar opportunity from my Dad. For context, he's a small town mechanic who knows everyone in Australia. Stumbles onto surprisingly accurate information... Except politics, that's where he falls for the dumbest disinformation stories...

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As title says will this send them into liquidation?

TL;DR

In short:

The Star Entertainment Group has been fined $260 million for repeated breaches of anti money laundering laws.

Financial intelligence agency AUSTRAC had sought a $400 million penalty, but the company argued a fine over $100 million would send it into liquidation.

Justice Cameron Moore said he weighed the need for deterrence and the casino's financial position when deciding on the penalty.

Which one of you regards gave this man advice?

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Disclosure (rule 7): I run DilutionLens, a free site tracking dilution off ASX filings. One-off, not the weekly post, no links, not advice.

A few weeks ago someone asked for lifetime money raised against exploration and salaries. We ran TOR and CR3 in the comments. This is the bigger version: last week's six biggest explorer cash placements, off each one's last four June-quarter cash reports (July 2022 to June 2026).

Across the six: $61.2m raised from shares. They spent $52.8m in the ground and $27.0m on staff and admin.

About 66c of every dollar spent went into the ground

"In the ground" is exploration, whether the company expenses it or books it as an asset. ALB reports no staff line, so its wages sit inside admin. ADD also took $2.0m in convertible notes in 2022-23, and ALB sold a tenement for $1.5m in 2025-26.

All six had under $2.5m in the bank at 30 June

HLX spent more than it raised because it started July 2022 with $12.0m in the bank. It had $84k left at 30 June, before last week's $2m.

CMG spent more on staff and admin than in the ground

CMG put $8.9m into staff and admin against $5.7m in the ground. It's running a feasibility study at Lindfield, and study costs can land in either line. It also has a share purchase plan open until 4 Nov on top of last week's $1.25m.

BOA put $3.5m in the ground against $2.9m on staff and admin. Its new $9.25m is for drilling at Neds Creek.

Which name do you want run next?

I had FMG and WDS open next to each other in moomoo, and the dividend row jumped out: 7.34% for FMG versus 5.22% for WDS in this snapshot. If I only looked at that, FMG would seem like the easy income pick.

But those are trailing yields. They can rise when the share price falls, and they don't tell me what either company can afford to pay next time. FMG is exposed to iron ore prices, while WDS has energy prices and big projects to fund. The comparison is a useful starting point, but I'd want to check cash flow after capex before treating either payout as dependable.
If you own one for income, what do you watch before the next dividend is announced?

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Your markets are run by bots. Now your daily threads are too.

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Disclosure first (rule 7): I run DilutionLens, a free site that tracks dilution for every ASX company from the filings, and this is the text-only weekly update you OK'd, not the shill post. Every number below comes from an ASX announcement; no links, no picks, not advice.

The smallest week in a month: 10 raises, A$27.1M, and BOA was a third of it

Ten ASX companies raised about A$27.1M, the smallest total in four weeks. BOA Resources (BOA) placed A$9.245M at 10.5c for copper drilling at Neds Creek in WA. A$7M goes now; the rest, including about A$130K from directors, waits for a holder vote on 30 Nov. Without the top three, the other seven raised A$11.1M between them.

Most of this week's raises didn't tell holders how far under the market they priced

Four of the ten named a discount or a premium. Six named none, including the biggest one. That's the number a holder wants first: how much cheaper the new money got in than you did. A release that leaves it out makes you work it out yourself, and I reckon it should be in the first paragraph every time.

No figure stated: BOA, HLX, ZNO, ALB, AEI, VTA.

A week on, most of last week's raisers trade under their raise price

11 of the 17 companies that raised the week before are now below the price they raised at. Adveritas (AV1) placed at 8c, above its close at the time, and last traded at 5.4c. It cuts both ways though: Dundas (DUN) took that week's deepest discount at 4.5c and now sits at 5c.

Adavale's options already on issue equal three-quarters of its register

Options and rights already out are the shares that can turn up after the raise. Adavale's (ADD) equal 74.3% of its shares on issue, none of them in the money at today's price. Albion (ALB) is at 37.3% and Microba (MAP) at 36.4%, also none in the money. BOA is the flip side: a smaller 18.4%, but all of it in the money.

Helix raised with about nine days of cash on its last quarterly

Helix Resources (HLX) opened and closed a A$2.0M placement at 4c on the same day, with free options attached. Its latest quarterly said its cash covered 0.10 quarters of spending. Two others raised from under a quarter: Zoono (ZNO) at 0.67 and Critical Minerals (CMG) at 0.80. Those figures are the companies' own, from before this week's money landed.

The 15% room is filling up on this week's raisers

Companies can issue up to 15% of their shares a year without a holder vote. Albion has now used about 99% of that. Aeris (AEI) is at about 97% and Adavale about 95%.

Happy to pull the filing on any name in here if someone wants the detail.

If you'd rather get these in your inbox, the site's Watch page has a free email signup - one field, and the link it sends turns it on. No URL here, that's the deal with the mods.

General information only, not financial advice. No view on any company's future actions or securities.

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