ABx Group Limited is undertaking a $4.1 million capital raising package to fund its Tasmanian rare earths development and the construction of its clean fluorine pilot plant.

The financing comprises a $2.1 million placement and a fully underwritten $2.0 million share purchase plan. Strategic partner Good Importing International has committed $1.0 million to the placement, while board and management have provided binding commitments of $100,000, subject to shareholder approval. The placement involves issuing approximately 67.7 million shares at $0.031 per share with attaching options exercisable at $0.046.

The funds will support the ongoing rare earth exploration drilling program across northern Tasmanian tenements aimed at delineating potential mine areas within the Deep Leads - Rubble Mound deposit. ABx also plans to allocate capital toward the construction and commissioning of the ALCORE continuous pilot plant at Bell Bay in northern Tasmania, which follows the receipt of building permits and the commencement of civil works.

"This funding provides ABx with additional financial capacity to accelerate our key development priorities across rare earths and ALCORE."

"We have important work programs underway across both businesses, from advancing Deep Leads and our rare earths commercialisation strategy to progressing ALCORE's continuous pilot plant at Bell Bay. This funding puts us in a stronger position to maintain that momentum."

— Dr Mark Cooksey, Managing Director and CEO of ABx Group

Eligible shareholders in Australia and New Zealand can participate in the fully underwritten share purchase plan to raise up to $2.0 million through new shares priced at the lower of the placement price or a discount to the five-day volume-weighted average price.

Regional activity across northern Tasmania has seen Meryllion Resources Corporation report shallow scout drilling assay results up to 879 ppm total rare earth oxides at its nearby project.

The issuance of placement options, share purchase plan securities, underwriter options, and director participation shares remains subject to shareholder approval at an Extraordinary General Meeting scheduled for Thursday, 29 October 2026.

Read the full announcement: $4.1M Secured to Advance Rare Earths and ALCORE