## ABx Group — Tasmania's Heavy Rare Earths
_Descriptive field note on the position — not investment advice, no price targets._
ABx Group is a Tasmanian resources name with three legs: ionic-adsorption-clay rare earths (IAC-REE), bauxite and the fluorine-recycling project ALCORE. The heart of the investment story is the T8 REE discovery in northern Tasmania — with notably high grades of dysprosium and terbium, the heavy rare earths at the centre of China's export restrictions.
### Thesis
Not every rare-earth story is alike. The value lies less in total tonnage than in composition: Dy and Tb are the elements whose scarcity outside China creates strategic premiums. ABx adds two proofs of seriousness — Tasmania's first REE JORC resource (Deep Leads–Rubble Mound: 3.94 Mt @ 918 ppm TREO) and tenure of more than 800 km² that gives the T8 trend room to grow. Bauxite and ALCORE are flanking optionality, not a distraction.
### Catalysts
- Further T8 drill results.
- Growth of the resource base beyond the first JORC.
- Customer validation of the MRE carbonate → a path to offtake.
- Progress at ALCORE (fluorine recycling).
### Risks
- Early stage: the story sits at the start of the valuation curve.
- Capital requirement and dilution on the road to resource.
- Rare-earth prices are volatile.
### Facts
- **Ticker:** ASX: ABX · **Region:** northern Tasmania
- **Core asset:** T8 — IAC-REE discovery with high Dy/Tb grades (heavy rare earths)
- **Resource:** Deep Leads–Rubble Mound JORC 3.94 Mt @ 918 ppm TREO — Tasmania's first REE JORC
- **Tenure:** > 800 km²
- **Other legs:** bauxite · ALCORE (fluorine recycling)
