Each one in plain English, with the numbers worked through for a shareholder.
6 Mar 2026capital raising announcement▲ GoodMajor
Pilot secures a three-year, A$25m equity facility from LDA Capital, drawn at Pilot's option by issuing shares at 90% of recent average price. Costs are a A$500,000 fee and options over 7,386,062 shares at $0.09. This adds a flexible funding source, but any draw dilutes shareholders.
What it means for a shareholder
7.4m new shares at A$0.090 to raise about A$500,000. That's 1.4% dilution: every existing holder's slice gets 1.4% smaller. If you held A$1,000 of shares (11,111 at the issue price), your slice goes from 0.00216% to 0.00213% of the company. To keep it you'd need 159 more shares - about A$14 at the issue price.
28 Jan 2026capital raising announcement● NeutralMajor
Pilot raises $3.44m through a placement of 955.6m shares at $0.0036, a 10% discount, well below April 2025's $0.010 raise. Each share carries a free option at $0.0036. Funds go mainly to Cliff Head operations. Directors take about $200k, subject to approval; second tranche follows the 24 February meeting.
What it means for a shareholder
956m new shares at A$0.0036 to raise about A$3.4m. That's 31% dilution: every existing holder's slice gets 31% smaller. If you held A$1,000 of shares (277,778 at the issue price), your slice goes from 0.0128% to 0.00888% of the company. To keep it you'd need 122,272 more shares - about A$440 at the issue price.
Pilot notes the 16 April cleansing prospectus offer closed today. The prospectus was a compliance document that lets placement securities be resold freely. Administrative, no new information.
Pilot raises $5.0m by placing 500m shares at $0.010 with 1-for-1 $0.033 options. Tranche 1 is 324.4m shares; tranche 2 needs approval at a 4 June meeting. Directors take $455k. Pilot says it is now adequately capitalised, and mentions a non-binding approach from a foreign state-owned company for a Cliff Head CCS stake.
What it means for a shareholder
500m new shares at A$0.010 to raise about A$5.0m. That's 23% dilution: every existing holder's slice gets 23% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.00603% to 0.00463% of the company. To keep it you'd need 30,145 more shares - about A$301 at the issue price.
Cleansing prospectus for the placement, offering only 10,000 shares at $0.01 and 10,000 options at $0.033 (expiring 13 December 2026). It exists to remove resale restrictions on placement securities. Administrative.
What it means for a shareholder
10,000 new shares at A$0.010 to raise about A$100. That's 0.000603% dilution: every existing holder's slice gets 0.000603% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.00603% to 0.00603% of the company. To keep it you'd need 1 more shares - about A$0 at the issue price.
5 Mar 2025capital raising announcement● NeutralMajor
Pilot extends its suspension to 5 April 2025 or until a raising is announced. It plans a $7–8m share placement led by Alpine Capital, in two tranches, first settling by 28 March and second (needing shareholder approval) in May. Triangle talks remain unresolved; price not given.
23 Jan 2025capital raising announcement● NeutralMajor
Pilot received $1.805m from two investors for convertible notes on the same terms as earlier issues (12% interest, $0.02 conversion, December 2027 maturity). Issue depends on placement capacity after the 12 February 2025 AGM. Funds support Cliff Head operations; the Triangle purchase is not mentioned.
11 Dec 2024capital raising announcement● NeutralMajor
Pilot has binding commitments for $2m of convertible notes, on the same terms as the November Discovery facility: 12% interest, $0.02 conversion price, maturity December 2027. Funds are due by 24 December and issue needs refreshed placement capacity after the 12 December meeting. Proceeds go toward Cliff Head.
14 Oct 2024capital raising announcement● NeutralMajor
Pilot raised $3.855m through a placement of 214.2m shares at $0.018, a 10% discount to last trade, with one $0.033 option per two shares. Funds mainly go to the Triangle Cliff Head purchase. Directors are participating, subject to shareholder approval.
What it means for a shareholder
214m new shares at A$0.018 to raise about A$3.9m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (55,556 at the issue price), your slice goes from 0.00389% to 0.00338% of the company. To keep it you'd need 8,334 more shares - about A$150 at the issue price.
8 Aug 2024capital raising announcement● NeutralMajor
Pilot signed an at-the-market agreement with Dolphin Corporate Investments for up to $7.5m of standby equity over 3 years, used at Pilot's discretion. It put up 32,561,791 security shares at nil cash. Funds are meant for the Cliff Head acquisition and operating costs.
17 June 2024capital raising announcement▲ GoodMajor
Pilot raised $4.0m through a placement of 181.8m shares at $0.022, a 22% premium to the last close, with one free $0.033 option per four shares. Funds go to closing out pre-FEED, Cliff Head operations and working capital. Whairo Capital led it.
What it means for a shareholder
182m new shares at A$0.022 to raise about A$4.0m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (45,455 at the issue price), your slice goes from 0.00382% to 0.00332% of the company. To keep it you'd need 6,949 more shares - about A$153 at the issue price.
27 Feb 2024capital raising announcement▲ GoodMajor
The $3.5m convertible notes completed on 19 February 2024, with the remaining $2.5m received after shareholders overwhelmingly approved them at the 6 February AGM. Pilot also received a $1.3m R&D tax refund on 23 February. Funds go to pre-FEED work and working capital.
15 Dec 2023capital raising announcement● NeutralMajor
Pilot signed binding convertible note agreements for $3.5m with a syndicate led by Discovery Investments (Greg Columbus): $1.0m paid early and a $2.5m note, with issue conditional on the 6 February 2024 AGM. It follows the $3.0m note from May 2023. Conversion terms not visible.
6 Nov 2023capital raising announcement● NeutralMajor
Pilot raised $2.424m via a placement of 121.2m shares at $0.02, with one option per four shares (30.3m, $0.033, expiring Aug 2025). Directors participate, subject to approval. It funds the Mid West project pre-FEED and working capital. Text cites a 4.8% discount to a $0.21 close, which looks inconsistent.
What it means for a shareholder
121m new shares at A$0.020 to raise about A$2.4m. That's 10% dilution: every existing holder's slice gets 10% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.00482% to 0.00431% of the company. To keep it you'd need 5,841 more shares - about A$117 at the issue price.
4 May 2023capital raising announcement● NeutralMajor
Pilot signed a binding $3.0m convertible note with a syndicate led by Greg Columbus, with a 12% coupon, $0.02 conversion price, 24-month term, unsecured. It needed shareholder approval, and funds were for CCS FEED, pre-FEED work and working capital.
Pilot raised $1.7m via a placement of 170m shares at $0.01, with 1 option per 2 shares at $0.02 expiring April 2026. This is below the $0.015 price of the December raise. Funds go to CCS FEED, pre-FEED and working capital; directors and management participating.
What it means for a shareholder
170m new shares at A$0.010 to raise about A$1.7m. That's 18% dilution: every existing holder's slice gets 18% smaller. If you held A$1,000 of shares (100,000 at the issue price), your slice goes from 0.0126% to 0.0104% of the company. To keep it you'd need 21,403 more shares - about A$214 at the issue price.
30 Nov 2022capital raising announcement● NeutralMajor
Pilot raised $2.0m via a placement of 133.3m shares at $0.015 (12% discount), with 1 option per 2 shares at $0.033. Directors are participating, subject to AGM approval. Pilot says this funds Cliff Head CCS regulatory approval and hydrogen pre-FEED. Declaration application lodged 29 Nov.
What it means for a shareholder
133m new shares at A$0.015 to raise about A$2.0m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (66,667 at the issue price), your slice goes from 0.0102% to 0.0085% of the company. To keep it you'd need 13,658 more shares - about A$205 at the issue price.
11 July 2022capital raising announcement● NeutralMajor
Pilot raised $2.2m via a placement of 129.4m shares at $0.017, a 17.1% discount to the last close, with one free option per two shares (exercise $0.033, three years). $1.67m comes in tranche 1; the rest needs shareholder approval on about 19 August. It funds CCS milestones towards a final investment decision.
What it means for a shareholder
129m new shares at A$0.017 to raise about A$2.2m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (58,824 at the issue price), your slice goes from 0.0117% to 0.00929% of the company. To keep it you'd need 15,105 more shares - about A$257 at the issue price.
11 Aug 2021capital raising announcement▲ GoodMajor
The $8m placement is complete: 133.3m shares at $0.06, with tranche 2 (120.8m shares) issued 11 August after the 4 August vote. Pilot says ASX reinstatement conditions are met, and the Chapter 11 feasibility-study limits (including $1.2m wind and solar spend) are confirmed.
What it means for a shareholder
133m new shares at A$0.060 to raise about A$8.0m. That's 26% dilution: every existing holder's slice gets 26% smaller. If you held A$1,000 of shares (16,667 at the issue price), your slice goes from 0.0044% to 0.00326% of the company. To keep it you'd need 5,871 more shares - about A$352 at the issue price.
Pilot issued a cleansing prospectus offering 16,666 shares at $0.06 to raise $1,000. Its stated purpose is to lift trading restrictions on shares issued earlier, including the placement and shares issued during suspension. Administrative step toward reinstatement.
What it means for a shareholder
16,666 new shares at A$0.060 to raise about A$1,000. That's 0.0044% dilution: every existing holder's slice gets 0.0044% smaller. If you held A$1,000 of shares (16,667 at the issue price), your slice goes from 0.0044% to 0.0044% of the company. To keep it you'd need 1 more shares - about A$0 at the issue price.
28 June 2021capital raising announcement● NeutralMajor
Pilot has firm commitments for an $8m placement of 133.3m shares at $0.06, a 26.8% discount to the $0.082 pre-suspension price. Tranche 2 needs shareholder approval. ASX has signalled intent to reinstate trading, indicatively 11 August.
What it means for a shareholder
133m new shares at A$0.060 to raise about A$8.0m. That's 27% dilution: every existing holder's slice gets 27% smaller. If you held A$1,000 of shares (16,667 at the issue price), your slice goes from 0.00455% to 0.00334% of the company. To keep it you'd need 6,072 more shares - about A$364 at the issue price.
The share purchase plan raised only $115,500, with 3,500,000 shares at 3.3c and no scale back, against a $500,000 target. Underwriter Bridge Street is left to cover the remaining $384,500, subject to shareholder approval at the next meeting.
What it means for a shareholder
3.5m new shares at A$0.033 to raise about A$115,500. That's 2.7% dilution: every existing holder's slice gets 2.7% smaller. If you held A$1,000 of shares (30,303 at the issue price), your slice goes from 0.024% to 0.0234% of the company. To keep it you'd need 841 more shares - about A$28 at the issue price.
Bridge Street Capital Partners, already Pilot's corporate adviser, fully underwrites the $500,000 share purchase plan for a 6% fee. Shareholder approval is needed to issue any shortfall, and Bridge Street can terminate if approval is not obtained by 15 January 2021.
The share purchase plan closing date is extended from 2 November to 20 November 2020 to give holders more time. Price stays 3.3c. Funds are earmarked for the wind and solar feasibility study, Cliff Head production work and working capital.
7 Oct 2020capital raising announcement● NeutralMajor
Pilot's share purchase plan opens at 3.3c per share, targeting $500,000, not underwritten, with up to $30,000 per eligible holder. This is the retail offer foreshadowed alongside the September $2.5m placement.
Pilot agrees a placement of 15,894,128 shares at $0.03, raising almost $477,000, to Walkerindo Nusatama Mandiri. The price is stated as 48% above the current share price. Dr Walker Li, nominated by the investor, joins as Non-Executive Director. This delivers the capital raising flagged for 2018.
What it means for a shareholder
15.9m new shares at A$0.030 to raise about A$477,000. That's 0.498% dilution: every existing holder's slice gets 0.498% smaller. If you held A$1,000 of shares (33,333 at the issue price), your slice goes from 0.00105% to 0.00104% of the company. To keep it you'd need 167 more shares - about A$5 at the issue price.
14 July 2017capital raising announcement▲ GoodMajor
Pilot receives the $720,000 from Giant Rainbow for 240 million shares at 0.3 cents, following shareholder approval at the general meeting. This completes the placement announced in April; shares are to be issued shortly.
What it means for a shareholder
240m new shares at A$0.003 to raise about A$720,000. That's 7.5% dilution: every existing holder's slice gets 7.5% smaller. If you held A$1,000 of shares (333,333 at the issue price), your slice goes from 0.0113% to 0.0105% of the company. To keep it you'd need 27,222 more shares - about A$82 at the issue price.
Pilot agrees to raise $720,000 by placing 240 million shares at 0.3 cents with Giant Rainbow Investments, a 67% premium to the 30-day average price. The investor is a related party linked to Chairman Xue, so shareholder approval and an independent expert's report are needed; meeting planned for June.
What it means for a shareholder
240m new shares at A$0.003 to raise about A$720,000. That's 7.5% dilution: every existing holder's slice gets 7.5% smaller. If you held A$1,000 of shares (333,333 at the issue price), your slice goes from 0.0113% to 0.0105% of the company. To keep it you'd need 27,222 more shares - about A$82 at the issue price.
27 June 2016capital raising announcement▲ GoodMajor
Tranche 2 completes after shareholders approved it on 23 June: 933.34 million shares at 0.3c raise A$2.8m, finishing the A$3.6m cornerstone raising. Wilson Xue joins the board; Todd and McGoldrick become advisers, and Xingjin Wang is engaged as an adviser.
What it means for a shareholder
933m new shares at A$0.003 to raise about A$2.8m. That's 32% dilution: every existing holder's slice gets 32% smaller. If you held A$1,000 of shares (333,333 at the issue price), your slice goes from 0.0166% to 0.0113% of the company. To keep it you'd need 155,132 more shares - about A$465 at the issue price.
Tranche 1 of the cornerstone placement completes: 400 million shares issued at 0.2c, raising A$800,000. A further A$2.8m at 0.3c awaits shareholder approval, with a meeting expected mid-June 2016. Shares on issue rise to about 2.005bn.
What it means for a shareholder
400m new shares at A$0.002 to raise about A$800,000. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (500,000 at the issue price), your slice goes from 0.0311% to 0.0249% of the company. To keep it you'd need 124,574 more shares - about A$249 at the issue price.
