Past year: ▼ 83%(23.5c – 1.52 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Aug 2026capital raising announcement▼ BadMajor
Entitlement offer closed raising $1.9m of the $4.69m offered at $0.30, with underwriters covering a further $0.8m. About $2.0m of shortfall remains unplaced. Placement raised $3.3m, plus $0.7m needing shareholder approval on 23 September. Total so far falls short of the ~$8.7m target.
7 Aug 2026capital raising announcement● Neutral
Prospectus and application forms for the 1-for-4.7 entitlement offer at $0.30 (free $0.36 option per share) were dispatched, with letters to ineligible holders. Offer closes 18 August 2026. Administrative step in the already-announced raising; no new terms.
29 July 2026capital raising announcement▼ BadMajor
Raising about $8.7m at $0.30 per share: a $4.0m placement plus a $4.7m 1-for-4.7 entitlement offer, partly underwritten to $2.7m, each with a free $0.36 option. Funds go to Wombat perforation and testing. Boyd White resigned; Hugh Robertson joined the board. Price is far below the $1.15 placement of 2025.
29 July 2026capital raising announcement● Neutral
Prospectus for the 1-for-4.7 entitlement offer at $0.30 to raise up to about $4.69m, with a free attaching option per new share. Documents the already-announced raising; no new terms visible.
12 Sept 2025capital raising announcement● NeutralMajor
Lakes raised $5.8m in a two-tranche placement at $1.15 a share (about 5.04m shares). Tranche one is 4,608,696 shares. A director-linked entity (Nick Mather) takes $500,000, subject to AGM approval. Funds go to the Wombat project and working capital.
4 Aug 2025capital raising announcement● Neutral
Closing date of the 4 July cleansing prospectus offer is extended from 5 August to 5 November 2025 to allow secondary trading of placement shares. Administrative; raises no meaningful money.
4 July 2025capital raising announcement● Neutral
Cleansing prospectus for up to 1,000 shares at $0.75, lodged 4 July 2025 to remove on-sale restrictions on shares issued in the placement. Administrative; raises only about $750.
What it means for a shareholder
1,000 new shares at A$0.750 to raise about A$750. That's 0.0017% dilution: every existing holder's slice gets 0.0017% smaller. If you held A$1,000 of shares (1,333 at the issue price), your slice goes from 0.00227% to 0.00227% of the company. To keep it you'd need 0 more shares - about A$0 at the issue price.
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4 July 2025capital raising announcement● Neutral
Duplicate lodgement of the 4 July 2025 cleansing prospectus for up to 1,000 shares at $0.75. Administrative, with no new information.
What it means for a shareholder
1,000 new shares at A$0.750 to raise about A$750. That's 0.0017% dilution: every existing holder's slice gets 0.0017% smaller. If you held A$1,000 of shares (1,333 at the issue price), your slice goes from 0.00227% to 0.00227% of the company. To keep it you'd need 0 more shares - about A$0 at the issue price.
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17 June 2025capital raising announcement▲ GoodMajor
Underwritten placement of 8,663,667 shares at $0.75 to raise $6,497,750, a 25% discount to the last trade price of $1.00 before the October 2023 suspension. Tranche one is issued after reinstatement; tranche two needs a shareholder vote. Pro forma cash is about $9.4m. Directors take up to $636,024 in lieu of owed fees.
29 Jan 2024capital raising announcement● Neutral
Acuity Capital agrees to extend the at-the-market subscription facility from 31 January 2024 to 31 January 2027, at no cost. Lakes has not drawn on it and is not required to.
12 Oct 2023capital raising announcement▼ BadMajor
The rights issue closed raising only $363,480 of a possible $1.73m, with 605.8m shares to be issued including bonus shares. The Chairman, the Managing Director and 1,295 others applied; about 2.29bn shares of shortfall remain, which directors may place.
19 Sept 2023capital raising announcement● Neutral
Closing date of the entitlement offer extended two weeks to 6 October 2023. Terms unchanged: 0.1 cent per share, up to $1,734,753 raised, with shortfall placeable at the board's discretion at no less than the offer price.
12 Sept 2023capital raising announcement● Neutral
Offer documents and entitlement forms sent to eligible shareholders; the offer closes 22 September unless extended. Administrative mailing notice with no new information.
7 Sept 2023capital raising announcement● Neutral
Launches the entitlement offer to raise about $1.7m for operations before Enterprise North-1, now targeted for 2024 (previously before end-2023). Effective price is 0.06 cent with bonus shares. Funding for Lakes' 49% share of drilling costs is still being investigated.
5 Sept 2023capital raising announcement● NeutralMajor
Prospectus for a non-renounceable entitlement offer: 3 new shares per 100 held at 0.1 cent, plus 2 free bonus shares per 3 subscribed. Maximum raise is $1,734,753, not underwritten, closing 22 September 2023. Follows cash falling to $758k.
15 Feb 2022capital raising announcement▲ GoodMajor
Underwriter Bizzell exercised its option to take a further $1.604m placement at the same terms, subject to shareholder approval at the coming AGM. This would lift total raised to $7.093m, excluding directors' subscriptions, and cut funding still needed for Wombat-5.
1 Feb 2022capital raising announcement▲ GoodMajor
Offer fully subscribed: $4,342,810 raised under the prospectus plus $1.146m of earlier placements, $5,488,810 in total, well above ASX's $3.55m. Shares issue 2 February; trading expected to resume by 7 February 2022.
27 Jan 2022capital raising announcement▲ GoodMajor
Minimum subscription of $2.404m reached on 25 January, taking total raised to $3,855,093 and exceeding the $3.55m ASX condition. Funds stay in escrow until trading resumes. This meets the main ASX reinstatement condition.
21 Jan 2022capital raising announcement● Neutral
Share offers under the replacement prospectus are now open at 0.08c per share and close 31 January 2022. Notice of opening only; no new terms.
20 Jan 2022capital raising announcement● Neutral
Replacement prospectus for up to 5.43bn shares at 0.08c (about $4.34m) replaces the 7 January one and now closes 31 January 2022. Changes include audited FY21 figures, added risk disclosure (climate, native title, R&D rebate) and removal of new-energy references.
What it means for a shareholder
5.43bn new shares at A$0.0008 to raise about A$4.3m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (1,250,000 at the issue price), your slice goes from 0.00352% to 0.00305% of the company. To keep it you'd need 191,082 more shares - about A$153 at the issue price.
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10 Jan 2022capital raising announcement▲ Good
Offers at 0.08c per share open 14 January and close 24 January 2022, up to $4.34m. With $1.146m of placements, an $0.8m advance subscription and a $1.604m Bizzell underwrite, $3.55m is assured. Funds are held in escrow until ASX confirms trading can resume.
7 Jan 2022capital raising announcement● NeutralMajor
Prospectus lodged 7 January 2022 offering up to 5.43bn shares at 0.08c to raise up to about $4.34m, closing 24 January 2022. Described as highly speculative. Lakes will seek ASX reinstatement; the text is truncated.
What it means for a shareholder
5.43bn new shares at A$0.0008 to raise about A$4.3m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (1,250,000 at the issue price), your slice goes from 0.00352% to 0.00305% of the company. To keep it you'd need 191,082 more shares - about A$153 at the issue price.
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23 Dec 2020capital raising announcement● NeutralMajor
Lakes placed 2.28bn convertible notes raising $2.075m at 0.09c each, with a new royalty on PRL 2 and PEP 167, 169 and 175. A further $1.1m of notes goes to directors Mather and Sleeman as loan settlement, subject to shareholder approval. Aim is to show 12 months of funding for ASX.
13 July 2020capital raising announcement● Neutral
Lakes raised $486,000 through 540,000 more convertible notes on the earlier terms. Company Secretary Melanie Leydin resigned; Chairman Richard Ash takes over the role, with Leydin Freyer continuing as accounting provider.
12 Dec 2019capital raising announcement● NeutralMajor
Lakes arranged up to $6.03m of convertible notes at 0.09 cents each, 15% interest, secured over its assets, maturing 31 December 2021. First $600k placed; balance to be underwritten by Bizzell, with $3m sub-underwritten by a Nick Mather-related trust. Funds Nangwarry-1.
31 Oct 2019capital raising announcement▲ GoodMajor
Lakes signed a Controlled Placement Agreement with Acuity Capital giving standby equity of up to $10m to 31 January 2022. Lakes decides if and when to use it. As collateral it will place 1.7bn shares for nil consideration, returned at expiry subject to shareholder approval.
18 Apr 2019capital raising announcement▼ BadMajor
Prospectus offering remaining Rawson holders 15 Lakes shares per Rawson share, closing 20 May 2019. It values Lakes shares at 0.1 cent. It warns the company is in a tight financial position and that auditors disclaimed a conclusion on going concern for the half-year.
22 Feb 2019capital raising announcement● Neutral
Lakes issued the 2,080,467,190 shares from the entitlement issue, raising $2.08m; 32.76bn shares are now on issue. Dark Horse holds 30.96%, Timeview 10.35%, Armour 6.49%.
21 Feb 2019capital raising announcement● Neutral
Applications received for 2,080,467,190 shares ($2.08m) in the entitlement issue, leaving 4.05bn shortfall shares. Shares on issue will rise from 30.68bn to 32.76bn.
20 Feb 2019capital raising announcement● NeutralMajor
The entitlement offer raised about $2.08m against the $6.13m target, leaving a $4.05m shortfall. Lakes says this is enough to commit to drilling Nangwarry-1, now expected May 2019, slipping from the earlier April target.
