Highlights

  • ABx Group reported customer engagement and product testing progress in its September 2026 quarterly activities update.
  • Six potential customers received 10-gram mixed rare earth carbonate samples, with most evaluations completed.
  • A non-binding memorandum of understanding supports discussions about potential Downstream rare earth processing.
  • Deep Leads has a reported 89-million-tonne mineral resource, with measured, indicated and inferred components.
  • The company is progressing further drilling and an ALCORE pilot plant, while production timing remains undefined.

ABx Group Limited (ASX:ABX) develops mineral and industrial technology projects in Australia, including the Deep Leads rare earths project in Tasmania and the ALCORE fluorine-processing initiative at Bell Bay. Its quarterly activities report for the three months ended 30 September 2026, released on 30 October, described a programme combining resource evaluation, product sampling and potential customer engagement. No commercial production date has been established.

Customer Samples and Potential Processing Partnerships

During the September quarter, ABx Group Limited (ASX:ABX) reported sending 10-gram samples of mixed rare earth carbonate to six prospective customers in two markets. Most recipients had evaluated the material by the reporting date, and the company characterised the feedback as positive. These early evaluations provide information about product characteristics and potential customer requirements, but they are not equivalent to contracted sales or approved project development.

The company also disclosed a non-binding memorandum of understanding with a prospective North American rare earth processor. The arrangement supports further engagement around possible processing pathways; however, the Quarterly Report did not establish binding offtake volumes, product prices or delivery commitments. Customer interest therefore remains an input to project planning rather than a confirmed source of revenue.

Deep Leads Resource and Metallurgical Work

Deep Leads occupies part of a broader tenement position of 1,000 square kilometres in Tasmania, . ABx Group Limited (ASX:ABX) reports a JORC 2012 mineral resource of 89 million tonnes: 6 million tonnes measured at 998 parts per million total rare earth oxides, 42 million tonnes indicated at 856 ppm and 41 million tonnes inferred at 811 ppm.

The company has emphasised the resource’s heavy rare earth composition, reporting an average combined dysprosium and terbium content of 36 ppm, representing approximately 4.3% of total rare earth oxides. Mixed rare earth carbonate products prepared from tank and column leach testing contained these two elements at 4.6% and 5.4% of rare earth oxides, respectively.

ABx Group Limited (ASX:ABX) is undertaking additional drilling, initially in the Deep Leads–Rubble Mound area, with further work planned. The quarterly report did not provide a completed economic study or a timetable for commercial rare earth production.

ALCORE Pilot Plant, Funding and Next Milestones

Alongside Deep Leads, the ALCORE Subsidiary is constructing a continuous pilot plant at Bell Bay designed to produce anhydrous hydrogen fluoride from aluminium smelter bath material. The September-quarter report stated that major process equipment was substantially manufactured, a new substation had been installed and the main switchboard was expected in November 2026. Environmental assessment was also progressing.

In September 2026, ABx Group Limited (ASX:ABX) announced a AUD 2.1 million Placement and a fully underwritten AUD 2.0 million share purchase plan intended to support work at Deep Leads and ALCORE. The company also reported no borrowings or financing facilities.

Key Insights

ABx Group Limited (ASX:ABX) is developing its Deep Leads strategy through parallel resource, processing and customer work. Sample evaluations and a non-binding memorandum provide commercial feedback, while drilling and pilot-plant construction address technical questions. The next substantive milestones are further exploration results, progress on economic studies, pilot-plant commissioning and any binding customer agreements. Until those steps advance, resource size and positive product feedback should not be interpreted as proof of commercial viability.