As the next step in the development of our Deep Leads rare earths project in northern Tasmania, we have delivered a 100 kg bulk sample from our resource to ANSTO in Sydney. ANSTO will produce a high purity mixed rare carbonate (MREC) sample from this 100 kg of material.

Like all ABx rare earths, the sample is particularly high grade for the two crucial heavy rare earths, dysprosium and terbium. Additionally, we conducted in-house leach tests on the sample at the in-house facilities that our technical team has established in Launceston. We measured high extractions of the four magnet rare earths and, crucially, these tests were conducted at ambient temperatures and pressures with minimal acid for a short time. This indicates that the sample is an ionic adsorption clay, and these process conditions are conducive for lost cost rare earth production. To our knowledge, ABx is the only company in Australia that is conducting such in-house tests on clay-hosted rare earth deposits.

It is expected that ANSTO will produce the MREC sample before the end of 2025. Results and samples will be provided to prospective customers, who are keenly anticipating these results and have requested samples for their own evaluation.