ABx : Half Yearly Report and Accounts

Half-Yearly Report 2022

ASX:ABX

Interim Financial Report

for the half‐year ended 30 June 2022

Table of Contents	Page
CORPORATE DIRECTORY	3
REVIEW OF OPERATIONS	4
DIRECTORS' REPORT	13
AUDITOR'S INDEPENDENCE DECLARATION	16
INDEPENDENT AUDITOR'S REVIEW REPORT	17
DECLARATION BY DIRECTORS	18
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME	19
CONSOLIDATED STATEMENT OF FINANCIAL POSITION	20
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	21
CONSOLIDATED STATEMENT OF CASH FLOW	22
NOTES TO THE FINANCIAL STATEMENTS	23

This interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended 31 December 2021 and any public announcements made by ABx Group Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

Interim Financial Report for the Half-Year Ended 30 June 2022

Page | 2

ABx Group Limited and Controlled Entities

ACN 139 494 885

CORPORATE DIRECTORY

ABx Group Limited

ACN 139 494 885

ABN 14 139 494 885

Registered and Corporate Office

Level 5

52 Phillip Street

Sydney NSW 2000

Telephone:	[phone]
Fax:	[phone]

Email: [e-mail]

Website: www.abxgroup.com.au

Auditor

K.S. Black & Co

Level 1

251 Elizabeth Street

Sydney NSW 2000

Telephone: [phone]

Lawyers

Piper Alderman

Level 23, Governor Macquarie Tower

1 Farrer Place

Sydney NSW 2000

Telephone: [phone]

Bankers

Australia & New Zealand Banking Group Limited

20 Martin Place

Sydney NSW 2000

Telephone: [phone]

St George Bank Limited

Level 14, 182 George St

Sydney NSW 2200

Telephone: [phone]

Directors

Paul Lennon (Non-Executive Chairman)

Ian Levy (Executive Director)

Ken Boundy (Non-Executive Director)

CEO

Dr Mark Cooksey

Company Secretary

Henry Kinstlinger

Share Registry

Computershare Investor Services Pty Limited

Level 3

60 Carrington Street

Sydney NSW 2000, Australia

Telephone: [phone] (within Australia)

ASX Code - ABX

ABx Group Limited shares are listed on the Australian Securities Exchange.

This financial report covers the Consolidated Entity consisting ABx Group Limited and its controlled entities.

ABx Group Limited is a company limited by shares, incorporated and domiciled in Australia.

Interim Financial Report for the Half-Year Ended 30 June 2022

Page | 3

ABx Group Limited and Controlled Entities

ACN 139 494 885

REVIEW OF OPERATIONS

Highlights

Rare earth elements: discoveries of ionic adsorption clays confirmed in northern Tasmania

Three new rare earth discoveries were made, meaning that ABx now has four rare earth discoveries in Northern Tasmania

Exploration Licence EL10/2021 granted which, in combination with the four discoveries,confirms that ABx now controls a rare earth province that is at least 52 km wide

The highest-grade results are 3,943 ppm total rare earths oxide (TREO) at the Deep Leads discovery and 4,800 ppm TREO at the Portrush discovery

Rare earth mineralisation at Deep Leads proven to be ionic adsorption clay (IAC), the major source of permanent magnet rare earths

Alcore (Production of aluminium fluoride from aluminium smelterwaste): awardedgrant for commercial plant, and pilot plant program continuing

Granted $7.5M from the Australian Government's Modern Manufacturing Initiative tosupport its proposed $16.4M aluminium smelter bath recycling plant in Tasmania

Three new laboratory reactors commissioned, with results to aid finalisation of the continuous pilot plant design

Bauxite Operations: Sunrise Bauxite Project joint venture signed

A joint venture agreement was signed with Alumin Pty Ltd for the development of the Sunrise Bauxite Project, comprising a bauxite mine at Binjour plateau and portoperations at Bundaberg in Queensland

Completed stage 1 terrestrial ecology studies and ground water monitoring of theBinjour mine and Bundaberg port operational sites

Corporate

Appointment of Dr Mark Cooksey as CEO to lead ABx through major transformations

Group available cash at 30 June 2022 was $4.28 million

ABx securities total 223,590,814 ordinary shares and 78,820,500 quoted options

Interim Financial Report for the Half-Year Ended 30 June 2022

Page | 4