ABx Group Limited (ABX: ASX) has announced it has received firm commitments to raise A$3.0 million (before costs) through a share placement to sophisticated and professional investors. ABx Group Limited (ABx) is a uniquely positioned Australian company delivering materials for a cleaner future. The placement will involve the issue of 46,875,000 new fully paid ordinary shares at A$0.0640 per share, representing a discount to recent trading prices. Alpine Capital Pty Ltd acted as Lead Manager for the placement.
Proceeds from the placement will primarily be used to advance the Deep Leads rare earth project in Tasmania. Specifically, the funds will facilitate the completion of scoping studies, expansion of exploration drilling in new tenements, and securing offtake agreements. A portion of the funds will also be allocated to working capital and costs associated with the offer. Several new institutional and high-net-worth investors participated in the placement, along with binding commitments of $100,000 from Board and Management, subject to shareholder approval at an Extraordinary General Meeting (EGM) in October 2025.
Subject to shareholder approval at the EGM, participants will receive one free attaching option for each new share allocated. These options will have an exercise price of A$0.10 and expire two years from the date of issue. If exercised, these placement options would provide an additional $4,687,500 in working capital for the company. The placement shares will be issued in two tranches, utilising the company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A.
Mark Cooksey, Managing Director and CEO of ABx Group, expressed delight with the strong investor support, stating that it would enable ABx to accelerate the development of its ionic clay rare earths project in Tasmania. He acknowledged the confidence of placement participants, directors, and shareholders as the company moves towards strategic project partnerships and near-term production. This announcement has been approved for release by the Board of ABx Group Limited.
