ABX Group Targets $4.1M Raise for Rare Earths and ALCORE Development
Key Takeaways
- ABx Group is raising $4.1M via a $2.1M placement (binding commitments received) and a fully underwritten $2.0M Share Purchase Plan to fund its Deep Leads rare earths project and ALCORE pilot plant.
- Strategic partner Good Importing International (GII) has committed $1.0M to the placement, deepening an existing commercial relationship that has already delivered a $2.7M initial payment to ABx under bauxite agreements.
- The Deep Leads project has produced a maiden mixed rare earth carbonate with record dysprosium-terbium concentrations and secured a radioactivity exemption, removing a key regulatory hurdle for commercial offtake discussions.
- The ALCORE continuous pilot plant at Bell Bay is currently under construction, with this raise funding its construction and commissioning phase — targeting hydrogen fluoride production from aluminium smelter by-product.
- Placement shares are priced at $0.031 (an 18% discount to the 15-day VWAP of $0.0378), with 1-for-2 attaching options exercisable at $0.046 over three years; an EGM to approve related resolutions is scheduled for 29 October 2026.
ABx Group secures $4.1M to accelerate rare earths and ALCORE development
ABx Group (ASX: ABX) is undertaking a $4.1M capital raise, structured as a $2.1M placement (for which it has received binding commitments) and a fully underwritten $2.0M Share Purchase Plan (SPP). Strategic partner Good Importing International (GII) has committed $1.0M to the placement, signalling continued confidence from an existing commercial partner. Proceeds are directed at advancing the Deep Leads rare earths project in Tasmania and the construction and commissioning of the ALCORE continuous pilot plant at Bell Bay.
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How the capital raise is structured
The raise has two components with distinct terms for each.
Placement ($2.1M):
- Approximately 67.7 million new shares issued at $0.031 per share
- Issue price represents an 18% discount to the 15-day VWAP of $0.0378
- Approximately 33.8 million attaching options, exercisable at $0.046, expiring 3 years from issue date, on a 1-for-2 basis
- Board and management have made binding commitments of $100,000 to the placement, subject to shareholder approval
- Alpine Capital Pty Ltd acted as lead manager
Share Purchase Plan ($2.0M):
- Open to eligible shareholders with a registered address in Australia or New Zealand
- Each participant may apply for up to $30,000 worth of SPP shares
- SPP price is the lower of the placement price ($0.031) or 95% of the 5-day VWAP to the closing date (rounded down to nearest $0.001)
- Same 1-for-2 attaching option structure applies: exercisable at $0.046, 3-year expiry
- Fully underwritten by Alpine Capital Pty Ltd
- Board and management intend to commit a further $60,000 to the SPP
- An Extraordinary General Meeting (EGM) is expected to be held on or about 29 October 2026 to approve the options and related resolutions
Key timetable
| Event | Details | Date |
|---|---|---|
| SPP Prospectus dispatched & Offer Open | Prospectus and Application Form sent to eligible shareholders; SPP offer opens | Monday, 28 September 2026 |
| EGM Notice of Meeting dispatched | Notice of EGM lodged with ASX and dispatched to shareholders | Monday, 28 September 2026 |
| SPP Closing Date | Applications must be received by 5:00pm (AEST) | Friday, 23 October 2026 |
| EGM | Shareholder meeting to approve Placement Options, SPP Securities, Underwriter Options and related resolutions | Thursday, 29 October 2026 |
| Commencement of trading SPP Shares | SPP Securities commence trading on ASX (subject to ASX Listing Rules) | Monday, 2 November 2026 |
What ABx Group is building — and why this funding matters
Both projects receiving funding are at active development stages. Capital deployed now is intended to enable next-stage milestones rather than early-stage exploration.
Deep Leads rare earths project
The Deep Leads project in Tasmania targets heavy rare earths, which feed into Western supply chains for advanced technology applications. ABx has already produced a maiden mixed rare earth carbonate and received positive feedback from multiple customers, placing the project at a meaningful stage of its rare earths commercialisation strategy.
ABx has already produced a maiden mixed rare earth carbonate and received positive feedback from multiple customers, and its rare earth carbonate dysprosium-terbium levels have since reached record concentrations, a result that strengthens the project’s commercial case for Western supply chain customers.
ALCORE pilot plant at Bell Bay
ALCORE produces hydrogen fluoride — a key industrial chemical — from aluminium smelter by-product, offering a cleaner production pathway compared to conventional methods. The continuous pilot plant is currently under construction at Bell Bay, Tasmania, with this raise funding its construction and commissioning phase.
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Strategic backing and what comes next
GII’s $1.0M commitment within the placement carries particular weight given the existing commercial relationship. ABx has previously executed bauxite agreements with GII for projects in Queensland, and has already received a $2.7M initial payment under those arrangements. GII’s participation in this raise reflects a deepening of that relationship rather than a new entrant coming to the register.
Dr Mark Cooksey, Managing Director and CEO, ABx Group
“We are particularly pleased to have the continued support of GII through its $1 million investment in the placement. GII is already an important strategic partner to ABx through our bauxite assets, and its participation further strengthens that relationship.”
Dr Cooksey also noted the broader context for the raise: “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…”
The placement is also supported by other existing and new investors, while the underwritten SPP provides eligible shareholders with the opportunity to participate alongside institutional and strategic participants. With capital now in place, ABx is positioned to maintain momentum across both the Deep Leads and ALCORE programs through their respective next development phases.
A confirmed radioactivity exemption for the Deep Leads carbonate removes a significant regulatory hurdle that commonly delays rare earth product shipments, allowing ABx to move toward commercial offtake discussions without the transport and handling restrictions that affect many competing projects.
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