ABx Group (ASX:ABX) announced financial results for the quarter ended 30 September 2022.

ABx?s confirmed REE IAC mineralisation is the main target at Deep Leads & Rubble Mound.

Deep Leads & Rubble Mound amalgamated into a 6.5 x 7km REE mineralised zone.

Positive test results using the specialised laboratory reactor to investigate the reaction of bath with oleum to produce hydrogen fluoride. It is expected that the initial operating conditions for the pilot plant reactor will be determined early in the next quarter.

The design and layout of the pilot plant was further developed, and it is anticipated that pilot plant construction will commence in the next quarter.

Queensland and Tasmanian mine lease applications progressing well, with surveys and studies well underway and on track for submissions.

Appointment of Dr Mark Cooksey as Managing Director on 1 September 2022.

Group available cash at quarter end was $2.98 million.

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

Following the announcement the company?s share price rose 3.448%.