R&D Tax Rebate Received for Rare Earths Activities
Released
Released
Announcement PDF
ASX Announcement
10 September 2024
ASX: ABX
R&D Tax Rebate Received for Rare Earths Activities
R&D tax offset of $437,185 received for ABx Group’s rare earths activities
undertaken in 2023 financial year
Tax offset follows a $474,126 rebate received for activities undertaken by
ALCORE in 2023 financial year
Offsets support ABx to continue investing in its rare earths and ALCORE projects
ABx Group (ASX: ABX) (“ABx”) is pleased to announce the Company has received a research
and development (R&D) tax offset totalling $437,185.43 from the Australian Tax Office (ATO)
for activities undertaken during 2023 financial year.
These involved developing techniques for exploring, drilling and processing ionic adsorption
clay (IAC) REE deposits mainly related to the Company’s wholly-owned Deep Leads – Rubble
Mound rare earths project in northern Tasmania.
The R&D offset follows a similar offset of $474,126.21 recently awarded to ABx Group’s 83%owned subsidiary ALCORE Limited.1
The combined offsets total over $900,000 and underpin the Company’s balance sheet,
supporting further investment in the rare earths and ALCORE projects.
ABx Group Managing Director and CEO Mark Cooksey said:
"We are pleased to receive the R&D tax rebate, which is a testament to our ongoing commitment
to innovation and the advancement of our rare earths activities in Tasmania. This rebate not only
underscores the importance of our work in developing sustainable and efficient rare earths
extraction technologies but also provides essential support as we continue to advance our project
in this critical sector."
This announcement is approved for release by the board of directors.
For further information please contact:
Dr Mark Cooksey
MD & CEO
ABx Group
+61 447 201 536
mcooksey@abxgroup.com.au
www.abxgroup.com.au
Media
Chapter One Advisors
David Tasker / Alex Baker
+61 433 112 936 / +61 432 801 745
dtasker@chapteroneadvisors.com.au /
abaker@chapteroneadvisors.com.au
About ABx Group Limited
1
ASX announcement, 21 August 2024
ABx Group Limited
Level 4, 100 Albert Road, South Melbourne, VIC 3205
ABN 14 139 494 885
P: +61 3 9692 7222
F: +61 2 9956 7355
ASX announcement 10 September 2024
page 2
ABx Group Limited (ABx) is a uniquely positioned Australian company delivering materials
for a cleaner future.
The two areas of focus are:
Creation of an ionic adsorption clay rare earth project in northern Tasmania
Establishment of a plant to produce hydrogen fluoride and aluminium fluoride from
recycled industrial waste, to replace imports (ALCORE)
There is also a niche business of mining and enhancing bauxite resources for cement,
aluminium and fertiliser production.
ABx endorses best practices on agricultural land and strives to leave land and environment
better than we find it. We only operate where welcomed.
Disclaimer Regarding Forward Looking Statements
This ASX announcement (Announcement) contains various forward-looking statements. All
statements other than statements of historical fact are forward-looking statements.
Forward-looking statements are inherently subject to uncertainties in that they may be
affected by a variety of known and unknown risks, variables and factors which could cause
actual values or results, performance, or achievements to differ materially from the
expectations described in such forward-looking statements.
ABx does not give any assurance that the anticipated results, performance, or achievements
expressed or implied in those forward-looking statements will be achieved.
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