Each one in plain English, with the numbers worked through for a shareholder.
17 Dec 2025capital raising announcement● Neutral
Cleansing prospectus offering up to 10,000 shares at A$0.001 (raising up to A$10), issued only to remove trading restrictions on shares from the December placement. No new funds of substance.
What it means for a shareholder
10,000 new shares at A$0.001 to raise about A$10. That's 0.00116% dilution: every existing holder's slice gets 0.00116% smaller. If you held A$1,000 of shares (1,000,000 at the issue price), your slice goes from 0.116% to 0.116% of the company. To keep it you'd need 12 more shares - about A$0 at the issue price.
8 Dec 2025capital raising announcement● NeutralMajor
Winchester announced a placement of A$300,000 at A$0.001 per share (300M shares), led by CPS Capital, to fund new growth opportunities and working capital. CEO McGoldrick (A$45k) and former director Peterson (A$100k) take part, subject to shareholder approval. Corrected in the next announcement.
What it means for a shareholder
300m new shares at about A$0.001 to raise about A$300,000. That's 26% dilution: every existing holder's slice gets 26% smaller. If you held A$1,000 of shares (1,000,000 at the issue price), your slice goes from 0.116% to 0.0859% of the company. To keep it you'd need 347,300 more shares - about A$347 at the issue price.
18 July 2024capital raising announcement● NeutralMajor
Entitlement offer closed with applications for $343,791 (114.6M shares at $0.003), well short of the roughly $765,000 maximum. About 140.5M shares remain as shortfall, which the board may place within three months.
What it means for a shareholder
115m new shares at A$0.003 to raise about A$343,791. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (333,333 at the issue price), your slice goes from 0.0386% to 0.0341% of the company. To keep it you'd need 44,223 more shares - about A$133 at the issue price.
Offer document opens the 1-for-4 non-renounceable entitlement offer at $0.003 per share, to raise up to about $765,000. It closes 12 July 2024. Terms repeat the 19 June announcement.
19 June 2024capital raising announcement● NeutralMajor
Company raised $750,000 via a placement of 250M shares at $0.003, plus a 1-for-4 entitlement offer at the same price to raise up to about $765,000. Funds go to lifting production, new opportunities and working capital. Holland also resigned from the board on 14 June.
What it means for a shareholder
250m new shares at A$0.003 to raise about A$750,000. That's 22% dilution: every existing holder's slice gets 22% smaller. If you held A$1,000 of shares (333,333 at the issue price), your slice goes from 0.0386% to 0.0299% of the company. To keep it you'd need 96,472 more shares - about A$289 at the issue price.
10,202,115 shares were issued in lieu of cash to settle payment for services. No cash raised and no value or price stated in the text. Small issue, about 1% of shares on issue.
26 May 2021capital raising announcement● NeutralMajor
Placement of 312.5m shares at A$0.016 raises A$5m, a 19% discount to the 15-day VWAP. Tranche 2 (139.7m shares plus 37.5m broker options) needs shareholder approval. Funds go to Bast Deep, workovers, a Mustang well and the Spitfire prospect. Cash was A$1.1m.
What it means for a shareholder
313m new shares at A$0.016 to raise about A$5.0m. That's 31% dilution: every existing holder's slice gets 31% smaller. If you held A$1,000 of shares (62,500 at the issue price), your slice goes from 0.00904% to 0.00623% of the company. To keep it you'd need 28,263 more shares - about A$452 at the issue price.
21 Nov 2019capital raising announcement▲ GoodMajor
Winchester raised A$6.4m via a placement of 128m shares at A$0.05, a 14% discount to the 10-day VWAP, led by Gleneagle and CPS Capital. Funds go to Mustang development, Lightning offsets and El Dorado/Spitfire drilling. Twice the August issue price of A$0.025.
What it means for a shareholder
128m new shares at A$0.050 to raise about A$6.4m. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (20,000 at the issue price), your slice goes from 0.00358% to 0.00291% of the company. To keep it you'd need 4,577 more shares - about A$229 at the issue price.
The August placement is complete: 106.9m shares issued at A$0.025 (about A$2.7m at that price), lifting shares on issue to 538.2m, a dilution of 19.8%. Estimated costs are A$195,000; proceeds fund Mustang development drilling and working capital.
What it means for a shareholder
107m new shares at A$0.025 to raise about A$2.7m. That's 17% dilution: every existing holder's slice gets 17% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.00776% to 0.00643% of the company. To keep it you'd need 8,299 more shares - about A$207 at the issue price.
Winchester received firm commitments for a placement of about 100 million shares at A$0.025 to raise about A$2.5 million, managed by CPS Capital. Proceeds are for Mustang development drilling, assessing new prospects and working capital, lifting shares on issue to about 531 million.
What it means for a shareholder
100m new shares at A$0.025 to raise about A$2.5m. That's 19% dilution: every existing holder's slice gets 19% smaller. If you held A$1,000 of shares (40,000 at the issue price), your slice goes from 0.00927% to 0.00753% of the company. To keep it you'd need 9,273 more shares - about A$232 at the issue price.
Rights issue closed with only A$847,982 raised, a 30% take-up of 42.4m shares at A$0.02. The remaining 100.2m shares, worth A$2.0m, will be placed as shortfall with CPS; the full A$2.85m is not yet secured.
What it means for a shareholder
42.4m new shares at A$0.020 to raise about A$847,982. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (50,000 at the issue price), your slice goes from 0.0175% to 0.0153% of the company. To keep it you'd need 7,435 more shares - about A$149 at the issue price.
Rights issue closing date extended from 23 January to 4 February 2019, with issue now expected around 11 February. Administrative, though it may suggest slower uptake (inference).
Confirms the rights issue timetable, with closing on 23 January 2019 and shortfall shares open to additional applications. Repeats earlier dates; no new substance.
Administrative notice that the rights issue offer documents have been sent to eligible shareholders (A$0.02, 1-for-2, about A$2.85m). No new information.
Shareholder notice for the A$2.85m rights issue at A$0.02: up to 142.6m new shares, with A$2.3m for prospect drilling and A$439,988 for working capital. CPS Capital manages the shortfall, with a 30m-share top-up to CPS if shortfall is smaller. Offer closes 23 January 2019.
7 Dec 2018capital raising announcement● NeutralMajor
Winchester launches a 1-for-2 non-renounceable rights issue at A$0.02 a share to raise about A$2.85m, far below the A$0.10 placement of Nov 2017. Funds mainly go to drilling the Mustang, El Dorado and Spitfire prospects (A$2.3m), with first well planned for early February 2019.
29 Nov 2017capital raising announcement▲ GoodMajor
Placement of about 35 million shares at A$0.10 to raise about A$3.5m before costs, led by Bell Potter, settling 4 December 2017. Proceeds fund the horizontal development drilling program on the Permian acreage. Adds to the A$2.57m rights issue earlier in 2017.
What it means for a shareholder
35.0m new shares at A$0.100 to raise about A$3.5m. That's 12% dilution: every existing holder's slice gets 12% smaller. If you held A$1,000 of shares (10,000 at the issue price), your slice goes from 0.004% to 0.00351% of the company. To keep it you'd need 1,399 more shares - about A$140 at the issue price.
26 June 2017capital raising announcement● NeutralMajor
Rights issue closed with applications for 28,573,898 shares, A$2,571,650 or 53% of the offer. A shortfall of 25,280,270 shares (A$2,275,224) remains, to be placed via Bell Potter within 3 months. Proceeds are for more White Hat wells.
Supplementary prospectus for the A$0.09 rights issue (up to A$4,846,875) extends the close from 16 to 21 June 2017. It clarifies shortfall allocation and says director Larry Liu is a nominee of largest shareholder Yang Xiangyang, planning to take up 14,028,747 shares.
26 May 2017capital raising announcement● NeutralMajor
Winchester launched a 1-for-4 non-renounceable rights issue at A$0.09 to raise up to A$4,846,875, issuing up to 53.9m shares. Funds are for more White Hat wells, working capital and costs. Shortfall is placed via Bell Potter; the offer closes 16 June.
What it means for a shareholder
53.9m new shares at about A$0.0899 to raise about A$4.8m. That's 20% dilution: every existing holder's slice gets 20% smaller. If you held A$1,000 of shares (11,121 at the issue price), your slice goes from 0.00516% to 0.00413% of the company. To keep it you'd need 2,783 more shares - about A$250 at the issue price.
Prospectus lodged for the 1-for-4 rights issue at A$0.09 to raise about A$4,846,875. Offer opens 6 June and closes 16 June, with new shares trading from 26 June. This is the formal document for the raising already announced the same day.
27 Aug 2014capital raising announcement● NeutralMajor
Winchester issued a prospectus to raise A$15 million at A$0.20 per share (75 million shares), with up to A$5 million more in oversubscriptions (A$20 million total), ahead of an ASX listing. Minimum subscription is A$10 million. The offer is described as highly speculative.
What it means for a shareholder
75.0m new shares at about A$0.200 to raise about A$15.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
