QMines Limited (ASX:QML) has issued 10,556,116 unlisted options to its lead manager as part consideration for completion of a placement, according to a company disclosure lodged on 10 November 2026.

Key Points

  • 10,556,116 unlisted options were issued on 9 November 2026 as part consideration for completion of a placement
  • Options are exercisable at $0.078 each and expire on 9 November 2029
  • The options were not issued for cash consideration and are not intended to be quoted on ASX
  • Upon exercise, the options convert into QML ordinary fully paid shares
  • Following the issue, QML's total quoted ordinary fully paid securities on issue stand at 876,879,555

Terms of the Unlisted Options Issued to Lead Manager

According to the filing, the 10,556,116 unlisted options were issued on 9 November 2026 and carry an exercise price of AUD $0.078 per option, with an expiry date of 9 November 2029. The options form a new class of unquoted securities, with an ASX security code yet to be confirmed. The securities are denominated in Australian dollars and, upon exercise or conversion, will result in the issue of QML ordinary fully paid shares. The filing confirms QMines received ASX confirmation that the terms of the securities are appropriate and equitable under listing rule 6.1.

Options Issued as Non-Cash Consideration for Placement Completion

The filing states the options were issued to the lead manager in part consideration for completion of the placement, and no cash consideration was received for the securities. The transaction was previously announced to the market via an Appendix 3B lodged on 3 November 2026, titled "New – Proposed issue of securities – QML," and was categorised as a placement or other type of issue. The filing confirms there are no further issues of securities yet to take place to complete the transactions referred to in that Appendix 3B.

QMines Unquoted and Quoted Securities Position Following Issue

Following the issue of the new options, QMines discloses total quoted ordinary fully paid securities on issue of 876,879,555. The company's unquoted securities now comprise 31,000,000 options expiring 15 December 2028 at an exercise price of $0.0825 (code: QMLAL), 5,000,000 options expiring 6 May 2028 at $0.0675 (code: QMLAK), 37,000,000 performance rights (code: QMLAG), and the newly issued 10,556,116 unlisted options exercisable at $0.078 expiring 9 November 2029, for which an ASX security code is yet to be assigned.