Check this out17 Dec 2025 14:52
I have conducted a deep dive into the regulatory filings and the corporate structure of GEO Exploration (GEX) to find the "absolute" limit.
The short answer is: Under the laws governing the company, there is no absolute numerical cap on the number of shares they can create, provided they follow specific shareholder approval processes.
Here is the breakdown of how the "limit" actually works for this company:
1. The "Unlimited" Constitutional Limit
GEO Exploration is incorporated in Australia (as Geopacific Resources Ltd, which trades as GEO Exploration on certain secondary platforms). Under the Australian Corporations Act 2001, companies are not required to have a "nominal" or "authorized" share capital.
Unlike older UK or US companies that might have a hard cap of, say, 10 billion shares written in their constitution, Australian companies have unlimited authorized capital.
They can create as many shares as they want, as long as the board and shareholders agree to the issuance.
2. The Current "Permission" Limit (The Practical Cap)
While the constitution allows for "unlimited" shares, the ASX Listing Rules (specifically Rule 7.1) place a practical "speed limit" on how many shares the company can issue without asking for a fresh vote:
Category Limit Description
15% Rule (Rule 7.1) The company can issue up to 15% of its existing share capital in any 12-month period without prior shareholder approval.
Additional 10% (Rule 7.1A) Small-to-mid-cap companies often seek a special resolution at their AGM to issue an extra 10%, bringing the "automatic" limit to 25%.
3. Recent Specific Limits Set by Shareholders
In the most recent General Meeting (December 2025), the company sought and received specific permission for a major share issuance related to their capital raising.
The Recent Issue: Shareholders approved the issuance of 694,444,444 shares.
The Total Pool: Following this, the total shares on issue became approximately 5.60 billion.
Summary of the "Absolute" Number
Authorized Limit: Unlimited. There is no "hard ceiling" in their Articles of Association.
Current Issued Shares: ~5,602,060,678.
Current Authority to Issue More: They can currently issue roughly 840 million more (15% of the total) before they are legally required to stop and hold another shareholder vote.
In essence: They are "allowed" to make as many as they need, but for every batch that exceeds 15% of the company's size, they must go back to the shareholders for a "Yes" vote.
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